Citizens Financial Group Inc RI grew its holdings in shares of Avery Dennison Corp (NYSE:AVY) by 28.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,720 shares of the industrial products company’s stock after buying an additional 382 shares during the quarter. Citizens Financial Group Inc RI’s holdings in Avery Dennison were worth $175,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bay Harbor Wealth Management LLC grew its stake in Avery Dennison by 1,809.1% during the fourth quarter. Bay Harbor Wealth Management LLC now owns 210 shares of the industrial products company’s stock worth $27,000 after buying an additional 199 shares during the period. Lloyd Advisory Services LLC. purchased a new stake in Avery Dennison during the fourth quarter worth approximately $29,000. First Horizon Advisors Inc. grew its stake in Avery Dennison by 291.5% during the first quarter. First Horizon Advisors Inc. now owns 278 shares of the industrial products company’s stock worth $27,000 after buying an additional 207 shares during the period. CWM LLC lifted its position in shares of Avery Dennison by 692.5% during the first quarter. CWM LLC now owns 317 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 277 shares in the last quarter. Finally, TRUE Private Wealth Advisors acquired a new position in shares of Avery Dennison during the fourth quarter worth $46,000. Institutional investors own 89.38% of the company’s stock.
A number of research analysts have recently commented on AVY shares. Morgan Stanley reduced their target price on shares of Avery Dennison from $112.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 30th. UBS Group boosted their target price on shares of Avery Dennison from $126.00 to $128.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Zacks Investment Research cut shares of Avery Dennison from a “hold” rating to a “sell” rating and set a $106.00 target price on the stock. in a research report on Tuesday, April 7th. ValuEngine raised shares of Avery Dennison from a “sell” rating to a “hold” rating in a research report on Friday, March 6th. Finally, Loop Capital raised shares of Avery Dennison from a “hold” rating to a “buy” rating and set a $125.00 target price on the stock in a research report on Friday, March 20th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $124.55.
In other Avery Dennison news, CAO Lori J. Bondar bought 500 shares of the company’s stock in a transaction on Friday, February 28th. The shares were bought at an average cost of $112.85 per share, with a total value of $56,425.00. Following the completion of the acquisition, the chief accounting officer now owns 14,394 shares of the company’s stock, valued at $1,624,362.90. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is currently owned by corporate insiders.
AVY opened at $106.45 on Friday. The stock has a market capitalization of $8.83 billion, a PE ratio of 15.38, a P/E/G ratio of 2.70 and a beta of 1.20. The firm’s fifty day moving average price is $106.42 and its 200 day moving average price is $121.38. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.14 and a quick ratio of 0.86. Avery Dennison Corp has a 12-month low of $76.96 and a 12-month high of $141.09.
Avery Dennison (NYSE:AVY) last posted its quarterly earnings results on Wednesday, April 29th. The industrial products company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.16. The firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Avery Dennison had a net margin of 8.29% and a return on equity of 51.00%. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.48 earnings per share. On average, equities research analysts forecast that Avery Dennison Corp will post 5.77 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd will be issued a dividend of $0.58 per share. The ex-dividend date is Tuesday, June 2nd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.18%. Avery Dennison’s dividend payout ratio (DPR) is 35.15%.
Avery Dennison Company Profile
Avery Dennison Corporation produces and sells pressure-sensitive materials worldwide. The company's Label and Graphic Materials segment offers pressure-sensitive label and packaging materials; and graphics and reflective products under the Fasson, JAC, Avery Dennison, and Mactac brands, as well as durable cast and reflective films.
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