Wells Fargo & Company MN raised its holdings in shares of Avery Dennison Corp (NYSE:AVY) by 24.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,186,196 shares of the industrial products company’s stock after acquiring an additional 233,134 shares during the quarter. Wells Fargo & Company MN owned approximately 1.35% of Avery Dennison worth $136,247,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the business. APG Asset Management N.V. grew its stake in Avery Dennison by 125.4% during the 4th quarter. APG Asset Management N.V. now owns 1,145,053 shares of the industrial products company’s stock valued at $109,528,000 after acquiring an additional 637,000 shares in the last quarter. Westfield Capital Management Co. LP grew its stake in Avery Dennison by 21.3% during the 3rd quarter. Westfield Capital Management Co. LP now owns 911,591 shares of the industrial products company’s stock valued at $89,646,000 after acquiring an additional 159,800 shares in the last quarter. Skandinaviska Enskilda Banken AB publ grew its stake in Avery Dennison by 15.3% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 856,936 shares of the industrial products company’s stock valued at $84,271,000 after acquiring an additional 113,600 shares in the last quarter. Congress Asset Management Co. MA grew its stake in Avery Dennison by 1.1% during the 4th quarter. Congress Asset Management Co. MA now owns 837,546 shares of the industrial products company’s stock valued at $96,201,000 after acquiring an additional 9,124 shares in the last quarter. Finally, Neuberger Berman Group LLC grew its stake in Avery Dennison by 6.2% during the 3rd quarter. Neuberger Berman Group LLC now owns 801,191 shares of the industrial products company’s stock valued at $78,789,000 after acquiring an additional 46,706 shares in the last quarter. 83.65% of the stock is currently owned by institutional investors.
In related news, Director Peter K. Barker sold 2,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 26,703 shares in the company, valued at approximately $3,064,436.28. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Anthony Anderson sold 2,770 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was 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 of the company’s stock, valued at $471,645. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.
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, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.08. Avery Dennison had a return on equity of 42.26% and a net margin of 4.26%. The business had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.70 billion. During the same quarter in the previous year, the business posted $0.99 EPS. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. research analysts expect that Avery Dennison Corp will post 5.88 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 21st. Investors of record on Wednesday, March 7th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, March 6th. This represents a $1.80 annualized dividend and a yield of 1.52%. Avery Dennison’s dividend payout ratio (DPR) is currently 57.51%.
Several equities research analysts recently commented on AVY shares. Zacks Investment Research cut Avery Dennison from a “buy” rating to a “hold” rating in a research note on Tuesday, February 6th. Robert W. Baird reissued a “buy” rating and issued a $115.00 price target on shares of Avery Dennison in a research note on Friday, October 27th. Barclays boosted their price target on Avery Dennison from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Monday, February 12th. JPMorgan Chase & Co. cut Avery Dennison from a “neutral” rating to an “underweight” rating and set a $113.00 price target for the company. in a research note on Thursday, February 1st. Finally, Loop Capital boosted their price target on Avery Dennison from $99.00 to $106.00 and gave the company a “hold” rating in a research note on Thursday, October 26th. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $122.75.
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Avery Dennison 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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