Eaton Vance Management decreased its stake in shares of Avery Dennison Corp. (NYSE:AVY) by 0.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,427 shares of the company’s stock after selling 2 shares during the period. Eaton Vance Management’s holdings in Avery Dennison Corp. were worth $1,153,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the stock. Bank of Montreal Can bought a new position in Avery Dennison Corp. during the second quarter valued at approximately $158,866,000. Commonwealth Equity Services Inc boosted its position in Avery Dennison Corp. by 2.8% in the second quarter. Commonwealth Equity Services Inc now owns 7,301 shares of the company’s stock valued at $546,000 after buying an additional 200 shares in the last quarter. Norges Bank bought a new position in Avery Dennison Corp. during the fourth quarter valued at approximately $56,921,000. HBK Investments L P boosted its position in Avery Dennison Corp. by 27.8% in the first quarter. HBK Investments L P now owns 10,100 shares of the company’s stock valued at $728,000 after buying an additional 2,200 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in Avery Dennison Corp. by 36.5% in the first quarter. Renaissance Technologies LLC now owns 771,900 shares of the company’s stock valued at $55,662,000 after buying an additional 206,400 shares in the last quarter. Institutional investors and hedge funds own 89.50% of the company’s stock.
Avery Dennison Corp. (NYSE:AVY) traded down 0.442% on Monday, reaching $77.904. 111,178 shares of the company’s stock were exchanged. The firm has a market cap of $6.92 billion, a PE ratio of 23.220 and a beta of 1.01. The firm’s 50-day moving average is $77.54 and its 200-day moving average is $74.66. Avery Dennison Corp. has a 12 month low of $55.29 and a 12 month high of $79.27.
Avery Dennison Corp. (NYSE:AVY) last issued its earnings results on Tuesday, July 26th. The company reported $1.09 EPS for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.08. Avery Dennison Corp. had a return on equity of 34.82% and a net margin of 5.18%. The company earned $1.54 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the previous year, the firm posted $0.91 earnings per share. Avery Dennison Corp.’s quarterly revenue was up 1.7% compared to the same quarter last year. On average, equities analysts forecast that Avery Dennison Corp. will post $3.94 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 21st. Shareholders of record on Wednesday, September 7th were paid a $0.41 dividend. The ex-dividend date of this dividend was Friday, September 2nd. This represents a $1.64 dividend on an annualized basis and a yield of 2.10%. Avery Dennison Corp.’s payout ratio is currently 48.81%.
AVY has been the subject of several analyst reports. Zacks Investment Research raised shares of Avery Dennison Corp. from a “hold” rating to a “buy” rating and set a $87.00 price objective for the company in a research note on Wednesday, September 21st. Bank of America Corp. lowered shares of Avery Dennison Corp. from a “buy” rating to an “underperform” rating and set a $75.00 price objective for the company. in a research note on Friday, July 1st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Avery Dennison Corp. from $78.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday, July 27th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $78.00.
In other Avery Dennison Corp. news, insider Dean A. Scarborough sold 50,000 shares of Avery Dennison Corp. stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $78.51, for a total value of $3,925,500.00. Following the completion of the transaction, the insider now directly owns 156,066 shares in the company, valued at $12,252,741.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Susan C. Miller sold 2,000 shares of Avery Dennison Corp. stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $73.31, for a total value of $146,620.00. Following the completion of the transaction, the vice president now owns 8,518 shares of the company’s stock, valued at $624,454.58. The disclosure for this sale can be found here. 2.70% of the stock is owned by company insiders.
Avery Dennison Corp. Company Profile
Avery Dennison Corporation (Avery Dennison) is engaged in the production of pressure-sensitive materials and a range of tickets, tags, labels and other converted products. The Company’s pressure-sensitive materials are sold to label printers and converters that convert the materials into labels and other products through embossing, printing, stamping and die-cutting.
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