Wells Fargo & Company MN raised its holdings in shares of Avery Dennison Corp (NYSE:AVY) by 24.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,186,196 shares of the industrial products company’s stock after buying an additional 233,134 shares during the quarter. Wells Fargo & Company MN’s holdings in Avery Dennison were worth $136,247,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. West Oak Capital LLC lifted its holdings in shares of Avery Dennison by 114.3% during the fourth quarter. West Oak Capital LLC now owns 1,500 shares of the industrial products company’s stock worth $172,000 after buying an additional 800 shares during the last quarter. Conning Inc. acquired a new position in shares of Avery Dennison during the third quarter worth approximately $200,000. Davidson & Garrard Inc. acquired a new position in shares of Avery Dennison during the third quarter worth approximately $202,000. Univest Corp of Pennsylvania acquired a new position in shares of Avery Dennison during the fourth quarter worth approximately $205,000. Finally, Bank of Stockton acquired a new position in shares of Avery Dennison during the fourth quarter worth approximately $206,000. Institutional investors own 83.65% of the company’s stock.
In other Avery Dennison news, Director Peter K. Barker sold 2,000 shares of the company’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $114.76, for a total value of $229,520.00. Following the sale, the director now directly owns 26,703 shares in the company, valued at $3,064,436.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Anthony Anderson sold 2,770 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $117.50, for a total value of $325,475.00. Following the completion of the sale, the director now owns 4,014 shares in the company, valued at $471,645. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.
A number of research analysts recently commented on AVY shares. Zacks Investment Research lowered Avery Dennison from a “buy” rating to a “hold” rating in a research note on Friday, January 5th. UBS Group started coverage on Avery Dennison in a research note on Thursday, January 18th. They issued a “buy” rating and a $135.00 target price for the company. Bank of America upped their target price on Avery Dennison from $128.00 to $133.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Barclays upped their target price on Avery Dennison from $105.00 to $120.00 and gave the company an “overweight” rating in a research note on Monday, October 30th. Finally, JPMorgan Chase & Co. lowered Avery Dennison from an “overweight” rating to a “neutral” rating in a research note on Thursday, October 26th. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Avery Dennison presently has an average rating of “Buy” and an average price target of $122.75.
Avery Dennison Corp (NYSE:AVY) opened at $118.80 on Tuesday. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.13 and a quick ratio of 0.83. The company has a market capitalization of $10,460.00, a price-to-earnings ratio of 37.96, a P/E/G ratio of 2.89 and a beta of 1.20. Avery Dennison Corp has a 12 month low of $78.47 and a 12 month high of $123.67.
Avery Dennison (NYSE:AVY) last announced its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.08. Avery Dennison had a return on equity of 42.26% and a net margin of 4.26%. The firm had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.70 billion. During the same period in the prior year, the business posted $0.99 earnings per share. The business’s revenue was up 11.9% compared to the same quarter last year. research analysts predict that Avery Dennison Corp will post 5.88 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 21st. Shareholders of record on Wednesday, March 7th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend is Tuesday, March 6th. Avery Dennison’s dividend payout ratio (DPR) is 57.51%.
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Avery Dennison 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 segments include Label and Graphic Materials (LGM); Retail Branding and Information Solutions (RBIS), and Industrial and Healthcare Materials (IHM).
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