Avery Dennison Co. (NYSE:AVY) Shares Sold by Pitcairn Co.

Pitcairn Co. decreased its holdings in Avery Dennison Co. (NYSE:AVY) by 7.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,411 shares of the industrial products company’s stock after selling 342 shares during the quarter. Pitcairn Co.’s holdings in Avery Dennison were worth $974,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Innealta Capital LLC purchased a new position in Avery Dennison during the 2nd quarter worth approximately $28,000. Kennebec Savings Bank purchased a new position in Avery Dennison during the 3rd quarter worth approximately $36,000. Peterson Financial Group Inc. purchased a new position in Avery Dennison during the 3rd quarter worth approximately $39,000. Ashton Thomas Private Wealth LLC purchased a new position in Avery Dennison during the 2nd quarter worth approximately $42,000. Finally, 1620 Investment Advisors Inc. purchased a new position in Avery Dennison during the 2nd quarter worth approximately $51,000. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. StockNews.com cut shares of Avery Dennison from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. BMO Capital Markets lowered their price target on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Barclays lowered their price target on shares of Avery Dennison from $250.00 to $245.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. Citigroup lowered their price target on shares of Avery Dennison from $241.00 to $240.00 and set a “neutral” rating on the stock in a report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. cut shares of Avery Dennison from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $230.00 to $210.00 in a report on Thursday, October 24th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $244.96.

Avery Dennison Stock Up 1.5 %

AVY stock opened at $202.59 on Monday. The company has a current ratio of 0.92, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85. Avery Dennison Co. has a 1 year low of $187.93 and a 1 year high of $233.48. The company has a fifty day simple moving average of $210.78 and a 200 day simple moving average of $216.75. The firm has a market cap of $16.28 billion, a PE ratio of 24.32, a PEG ratio of 1.53 and a beta of 0.89.

Avery Dennison (NYSE:AVY) last released its earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.32 by $0.01. The firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.20 billion. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. The business’s revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.10 EPS. Sell-side analysts anticipate that Avery Dennison Co. will post 9.42 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date is Wednesday, December 4th. Avery Dennison’s dividend payout ratio is 42.26%.

Avery Dennison Company Profile

Avery Dennison Corporation operates as a materials science and digital identification solutions company in the United States, Europe, the Middle East, North Africa, Asia, Latin, America, and internationally. It provides pressure-sensitive materials comprising papers, plastic films, metal foils, and fabrics; performance tapes products, including tapes for wire harnessing, as well as cable wrapping for automotive, electrical, and general industrial applications; mechanical fasteners, which are precision-extruded and injection-molded plastic devices used in various automotive, general industrial, and retail applications; and other pressure-sensitive adhesive-based materials and converted products under the Fasson, JAC, Yongle, and Avery Dennison brands.