Jaffetilchin Investment Partners LLC raised its position in shares of Avery Dennison Corp (NYSE:AVY) by 42.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,455 shares of the industrial products company’s stock after acquiring an additional 2,817 shares during the quarter. Jaffetilchin Investment Partners LLC’s holdings in Avery Dennison were worth $1,086,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the business. ETRADE Capital Management LLC lifted its holdings in shares of Avery Dennison by 12.8% during the third quarter. ETRADE Capital Management LLC now owns 20,961 shares of the industrial products company’s stock valued at $2,061,000 after purchasing an additional 2,377 shares during the last quarter. Piedmont Investment Advisors LLC lifted its holdings in shares of Avery Dennison by 77.6% during the third quarter. Piedmont Investment Advisors LLC now owns 44,577 shares of the industrial products company’s stock valued at $4,384,000 after purchasing an additional 19,479 shares during the last quarter. Aurora Investment Counsel purchased a new position in shares of Avery Dennison during the fourth quarter valued at approximately $565,000. JPMorgan Chase & Co. raised its holdings in Avery Dennison by 2.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 585,504 shares of the industrial products company’s stock worth $51,742,000 after acquiring an additional 12,873 shares during the last quarter. Finally, IFM Investors Pty Ltd purchased a new position in Avery Dennison in the 3rd quarter worth approximately $317,000. 85.48% of the stock is currently owned by institutional investors and hedge funds.
Shares of Avery Dennison Corp (NYSE AVY) opened at $120.36 on Friday. The company has a market cap of $10,600.00, a price-to-earnings ratio of 38.45, a price-to-earnings-growth ratio of 3.07 and a beta of 1.24. Avery Dennison Corp has a one year low of $78.17 and a one year high of $123.67. The company has a quick ratio of 0.82, a current ratio of 1.13 and a debt-to-equity ratio of 1.14.
Avery Dennison (NYSE:AVY) last announced its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.25 by $0.08. The business had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.70 billion. Avery Dennison had a net margin of 6.27% and a return on equity of 40.52%. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.99 EPS. equities analysts forecast that Avery Dennison Corp will post 4.93 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 21st. Stockholders of record on Wednesday, March 7th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend is Tuesday, March 6th. Avery Dennison’s dividend payout ratio is 57.51%.
A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered shares of Avery Dennison from a “neutral” rating to an “underweight” rating and set a $113.00 price objective for the company. in a report on Thursday. Zacks Investment Research lowered shares of Avery Dennison from a “buy” rating to a “hold” rating in a report on Tuesday, January 23rd. Bank of America boosted their price objective on shares of Avery Dennison from $128.00 to $133.00 and gave the stock a “buy” rating in a report on Thursday. UBS Group began coverage on shares of Avery Dennison in a research report on Thursday, January 18th. They issued a “buy” rating and a $135.00 target price for the company. Finally, Loop Capital lifted their target price on shares of Avery Dennison from $99.00 to $106.00 and gave the stock a “hold” rating in a research report on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $120.75.
In other news, VP Deon Stander sold 6,400 shares of the company’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $107.64, for a total transaction of $688,896.00. Following the sale, the vice president now directly owns 9,426 shares in the company, valued at approximately $1,014,614.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Julia A. Stewart sold 4,000 shares of the stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $108.42, for a total transaction of $433,680.00. The disclosure for this sale can be found here. Insiders have sold a total of 26,255 shares of company stock worth $2,877,388 over the last 90 days. Corporate insiders own 1.40% of the company’s stock.
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About Avery Dennison
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 segments include Label and Graphic Materials (LGM); Retail Branding and Information Solutions (RBIS), and Industrial and Healthcare Materials (IHM).
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