Citigroup Inc. Has $12.20 Million Stock Holdings in Avery Dennison Co. (NYSE:AVY)

Citigroup Inc. lifted its holdings in shares of Avery Dennison Co. (NYSE:AVYGet Rating) by 25.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 70,127 shares of the industrial products company’s stock after buying an additional 14,144 shares during the period. Citigroup Inc. owned about 0.09% of Avery Dennison worth $12,200,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. GSA Capital Partners LLP acquired a new stake in Avery Dennison in the 1st quarter valued at about $778,000. Envestnet Asset Management Inc. lifted its stake in Avery Dennison by 2.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 76,719 shares of the industrial products company’s stock valued at $13,347,000 after purchasing an additional 1,912 shares during the last quarter. DAVENPORT & Co LLC acquired a new stake in Avery Dennison in the 1st quarter valued at about $299,000. Kentucky Retirement Systems lifted its stake in Avery Dennison by 5.0% in the 1st quarter. Kentucky Retirement Systems now owns 5,277 shares of the industrial products company’s stock valued at $918,000 after purchasing an additional 253 shares during the last quarter. Finally, Mascoma Wealth Management LLC lifted its stake in Avery Dennison by 60.2% in the 1st quarter. Mascoma Wealth Management LLC now owns 346 shares of the industrial products company’s stock valued at $60,000 after purchasing an additional 130 shares during the last quarter. 90.21% of the stock is currently owned by institutional investors and hedge funds.

Avery Dennison Stock Down 0.0 %

Shares of AVY opened at $185.48 on Monday. The firm’s 50 day moving average is $180.72 and its 200-day moving average is $174.85. The stock has a market capitalization of $15.07 billion, a PE ratio of 20.27, a P/E/G ratio of 2.68 and a beta of 0.97. The company has a current ratio of 0.98, a quick ratio of 0.65 and a debt-to-equity ratio of 1.29. Avery Dennison Co. has a 12 month low of $151.62 and a 12 month high of $229.24.

Avery Dennison (NYSE:AVYGet Rating) last issued its earnings results on Wednesday, July 27th. The industrial products company reported $2.64 earnings per share for the quarter, beating analysts’ consensus estimates of $2.37 by $0.27. Avery Dennison had a net margin of 8.48% and a return on equity of 40.75%. The firm had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same quarter last year, the business posted $2.25 earnings per share. The company’s quarterly revenue was up 11.7% on a year-over-year basis. Equities research analysts forecast that Avery Dennison Co. will post 9.93 EPS for the current year.

Avery Dennison Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 21st. Shareholders of record on Wednesday, September 7th will be given a $0.75 dividend. The ex-dividend date of this dividend is Tuesday, September 6th. This represents a $3.00 dividend on an annualized basis and a yield of 1.62%. Avery Dennison’s dividend payout ratio is currently 32.79%.

Analyst Ratings Changes

AVY has been the topic of several research analyst reports. StockNews.com raised shares of Avery Dennison from a “hold” rating to a “buy” rating in a report on Thursday, July 28th. UBS Group lowered their price target on shares of Avery Dennison from $195.00 to $180.00 in a report on Wednesday, July 13th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $205.57.

Avery Dennison Company Profile

(Get Rating)

Avery Dennison Corporation manufactures and markets pressure-sensitive materials and products in the United States, Europe, Asia, Latin America, and internationally. 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.

Further Reading

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

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