IFP Advisors Inc Reduces Stake in Avery Dennison Corp (AVY)

IFP Advisors Inc decreased its stake in shares of Avery Dennison Corp (NYSE:AVY) by 67.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,220 shares of the industrial products company’s stock after selling 2,498 shares during the quarter. IFP Advisors Inc’s holdings in Avery Dennison were worth $140,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of AVY. KAMES CAPITAL plc bought a new position in shares of Avery Dennison during the 4th quarter worth about $71,586,000. State of Tennessee Treasury Department increased its stake in Avery Dennison by 265.7% in the third quarter. State of Tennessee Treasury Department now owns 490,850 shares of the industrial products company’s stock valued at $48,270,000 after acquiring an additional 356,628 shares during the period. Atlantic Trust Group LLC increased its stake in Avery Dennison by 3,229.7% in the third quarter. Atlantic Trust Group LLC now owns 357,606 shares of the industrial products company’s stock valued at $35,167,000 after acquiring an additional 346,866 shares during the period. State Street Corp increased its stake in Avery Dennison by 5.0% in the second quarter. State Street Corp now owns 4,776,961 shares of the industrial products company’s stock valued at $422,140,000 after acquiring an additional 229,297 shares during the period. Finally, APG Asset Management N.V. increased its stake in Avery Dennison by 50.5% in the third quarter. APG Asset Management N.V. now owns 508,053 shares of the industrial products company’s stock valued at $49,962,000 after acquiring an additional 170,400 shares during the period. Institutional investors own 85.88% of the company’s stock.

Shares of Avery Dennison Corp (NYSE AVY) opened at $111.46 on Friday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.83 and a current ratio of 1.13. The firm has a market cap of $9,751.79, a PE ratio of 22.11, a price-to-earnings-growth ratio of 2.69 and a beta of 1.20. Avery Dennison Corp has a 52 week low of $78.47 and a 52 week high of $123.67.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $1.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.08. The firm had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.70 billion. Avery Dennison had a net margin of 4.26% and a return on equity of 42.26%. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.99 earnings per share. sell-side analysts predict that Avery Dennison Corp will post 5.88 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 21st. Shareholders of record on Wednesday, March 7th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, March 6th. This represents a $1.80 annualized dividend and a yield of 1.61%. Avery Dennison’s dividend payout ratio is 57.51%.

A number of research firms recently weighed in on AVY. Zacks Investment Research cut shares of Avery Dennison from a “buy” rating to a “hold” rating in a research note on Tuesday. Bank of America upped their target price on shares of Avery Dennison from $128.00 to $133.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. JPMorgan Chase & Co. cut shares of Avery Dennison from a “neutral” rating to an “underweight” rating and set a $113.00 target price on the stock. in a research note on Thursday, February 1st. UBS Group began coverage on shares of Avery Dennison in a research note on Thursday, January 18th. They issued a “buy” rating and a $135.00 target price on the stock. Finally, Barclays upped their target price on shares of Avery Dennison from $105.00 to $120.00 and gave the company an “overweight” rating in a research note on Monday, October 30th. One 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 issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $120.25.

In other Avery Dennison news, CAO Lori J. Bondar sold 10,855 shares of the company’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $110.88, for a total transaction of $1,203,602.40. Following the sale, the chief accounting officer now directly owns 18,556 shares of the company’s stock, valued at $2,057,489.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Peter K. Barker sold 2,000 shares of the company’s stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $114.76, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold 16,855 shares of company stock worth $1,866,802 over the last ninety days. Insiders own 1.40% of the company’s stock.

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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).

Institutional Ownership by Quarter for Avery Dennison (NYSE:AVY)

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