Avery Dennison Co. (NYSE:AVY) Shares Sold by Jane Street Group LLC

Jane Street Group LLC trimmed its stake in shares of Avery Dennison Co. (NYSE:AVY) by 70.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 31,207 shares of the industrial products company’s stock after selling 75,731 shares during the quarter. Jane Street Group LLC’s holdings in Avery Dennison were worth $6,889,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in AVY. Victory Capital Management Inc. increased its position 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 worth $312,772,000 after buying an additional 90,250 shares during the period. Seven Eight Capital LP acquired a new stake in shares of Avery Dennison in the 2nd quarter worth about $1,271,000. Icon Wealth Advisors LLC lifted its position in Avery Dennison by 553.5% in the 3rd quarter. Icon Wealth Advisors LLC now owns 3,137 shares of the industrial products company’s stock valued at $693,000 after purchasing an additional 2,657 shares during the last quarter. Bank of Montreal Can boosted its stake in Avery Dennison by 1.9% during the 2nd quarter. Bank of Montreal Can now owns 250,213 shares of the industrial products company’s stock valued at $57,581,000 after purchasing an additional 4,752 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Avery Dennison by 27.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,978 shares of the industrial products company’s stock worth $3,931,000 after purchasing an additional 3,905 shares during the last quarter. Institutional investors own 94.17% of the company’s stock.

Avery Dennison Trading Down 1.3 %

Avery Dennison stock opened at $195.14 on Friday. Avery Dennison Co. has a 1 year low of $193.49 and a 1 year high of $233.48. The firm’s 50 day moving average price is $206.51 and its two-hundred day moving average price is $214.37. The firm has a market cap of $15.68 billion, a price-to-earnings ratio of 23.43, a price-to-earnings-growth ratio of 1.52 and a beta of 0.87. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.92.

Avery Dennison (NYSE:AVY) last issued 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. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The firm had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.20 billion. During the same quarter last year, the business posted $2.10 EPS. Avery Dennison’s revenue was up 4.1% on a year-over-year basis. On average, research analysts predict that Avery Dennison Co. will post 9.42 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date is Wednesday, December 4th. Avery Dennison’s dividend payout ratio is 42.26%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on AVY shares. StockNews.com downgraded Avery Dennison from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. cut Avery Dennison from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $230.00 to $210.00 in a research note on Thursday, October 24th. BMO Capital Markets cut their price objective on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Citigroup decreased their target price on shares of Avery Dennison from $241.00 to $240.00 and set a “neutral” rating for the company in a research report on Wednesday, October 2nd. Finally, Barclays dropped their price target on shares of Avery Dennison from $250.00 to $245.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $244.96.

Insiders Place Their Bets

In related news, SVP Nicholas Colisto sold 3,679 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $206.00, for a total transaction of $757,874.00. Following the transaction, the senior vice president now directly owns 7,126 shares of the company’s stock, valued at approximately $1,467,956. The trade was a 34.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Avery Dennison Profile

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.