Avery Dennison Co. (NYSE:AVY) Position Trimmed by Jennison Associates LLC

Jennison Associates LLC trimmed its position in shares of Avery Dennison Co. (NYSE:AVY) by 13.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 171,763 shares of the industrial products company’s stock after selling 26,975 shares during the period. Jennison Associates LLC’s holdings in Avery Dennison were worth $37,918,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Victory Capital Management Inc. lifted its stake in Avery Dennison by 6.8% in the third quarter. Victory Capital Management Inc. now owns 1,416,798 shares of the industrial products company’s stock valued at $312,772,000 after acquiring an additional 90,250 shares during the last quarter. Boston Partners lifted its stake in shares of Avery Dennison by 3.6% in the 1st quarter. Boston Partners now owns 1,019,802 shares of the industrial products company’s stock valued at $227,660,000 after purchasing an additional 35,538 shares during the last quarter. Meridiem Investment Management Ltd. boosted its holdings in Avery Dennison by 0.7% in the third quarter. Meridiem Investment Management Ltd. now owns 794,092 shares of the industrial products company’s stock worth $175,261,000 after purchasing an additional 5,756 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Avery Dennison by 4.3% during the second quarter. Dimensional Fund Advisors LP now owns 787,716 shares of the industrial products company’s stock worth $172,254,000 after buying an additional 32,467 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Avery Dennison by 2.7% during the second quarter. Bank of New York Mellon Corp now owns 646,223 shares of the industrial products company’s stock valued at $141,297,000 after buying an additional 17,158 shares in the last quarter. Institutional investors own 94.17% of the company’s stock.

Avery Dennison Price Performance

Shares of AVY stock opened at $199.12 on Friday. Avery Dennison Co. has a 12 month low of $187.93 and a 12 month high of $233.48. The company has a market capitalization of $16.00 billion, a P/E ratio of 23.90, a P/E/G ratio of 1.51 and a beta of 0.89. The stock has a 50 day moving average of $211.50 and a two-hundred day moving average of $217.06. The company has a current ratio of 0.92, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.32 by $0.01. The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.20 billion. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. The business’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.10 earnings per share. As a group, equities analysts expect that Avery Dennison Co. will post 9.42 EPS for the current year.

Avery Dennison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be paid a $0.88 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $3.52 annualized dividend and a dividend yield of 1.77%. Avery Dennison’s dividend payout ratio is currently 42.26%.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Bank of America upgraded Avery Dennison from an “underperform” rating to a “buy” rating and upped their price target for the stock from $207.00 to $250.00 in a research note on Thursday, October 17th. Citigroup lowered their price target on Avery Dennison from $241.00 to $240.00 and set a “neutral” rating on the stock in a report on Wednesday, October 2nd. Barclays decreased their price objective on shares of Avery Dennison from $250.00 to $245.00 and set an “overweight” rating for the company in a report on Monday, October 28th. StockNews.com downgraded shares of Avery Dennison from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Finally, JPMorgan Chase & Co. lowered shares of Avery Dennison from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $230.00 to $210.00 in a research report on Thursday, October 24th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $244.96.

About Avery Dennison

Avery Dennison Corporation operates as a materials science and digital identification solutions company in the United States, Europe, the Middle East, North Africa, Asia, Latin, America, and internationally. It provides pressure-sensitive materials comprising papers, plastic films, metal foils, and fabrics; performance tapes products, including tapes for wire harnessing, as well as cable wrapping for automotive, electrical, and general industrial applications; mechanical fasteners, which are precision-extruded and injection-molded plastic devices used in various automotive, general industrial, and retail applications; and other pressure-sensitive adhesive-based materials and converted products under the Fasson, JAC, Yongle, and Avery Dennison brands.