Texas Permanent School Fund Has $1.87 Million Stake in Avery Dennison Co. (NYSE:AVY)

Texas Permanent School Fund raised its holdings in Avery Dennison Co. (NYSE:AVYGet Rating) by 6.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,497 shares of the industrial products company’s stock after buying an additional 734 shares during the period. Texas Permanent School Fund’s holdings in Avery Dennison were worth $1,871,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AVY. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Avery Dennison by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 11,078 shares of the industrial products company’s stock valued at $1,927,000 after buying an additional 686 shares during the last quarter. Great West Life Assurance Co. Can increased its stake in Avery Dennison by 28.5% in the 1st quarter. Great West Life Assurance Co. Can now owns 46,710 shares of the industrial products company’s stock valued at $8,530,000 after buying an additional 10,370 shares during the last quarter. Yousif Capital Management LLC increased its stake in Avery Dennison by 0.5% in the 1st quarter. Yousif Capital Management LLC now owns 12,732 shares of the industrial products company’s stock valued at $2,215,000 after buying an additional 65 shares during the last quarter. Raymond James Trust N.A. increased its stake in Avery Dennison by 61.4% in the 1st quarter. Raymond James Trust N.A. now owns 4,968 shares of the industrial products company’s stock valued at $864,000 after buying an additional 1,889 shares during the last quarter. Finally, Blair William & Co. IL increased its stake in Avery Dennison by 2.2% in the 1st quarter. Blair William & Co. IL now owns 8,215 shares of the industrial products company’s stock valued at $1,429,000 after buying an additional 173 shares during the last quarter. 89.05% of the stock is currently owned by institutional investors and hedge funds.

Avery Dennison Stock Performance

Shares of AVY stock opened at $189.73 on Wednesday. The company has a market capitalization of $15.36 billion, a price-to-earnings ratio of 19.18, a PEG ratio of 2.68 and a beta of 0.98. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.66 and a current ratio of 1.01. The company has a 50-day simple moving average of $183.57 and a 200 day simple moving average of $179.70. Avery Dennison Co. has a 52 week low of $151.62 and a 52 week high of $215.96.

Avery Dennison (NYSE:AVYGet Rating) last announced its earnings results on Wednesday, October 26th. The industrial products company reported $2.46 EPS for the quarter, missing the consensus estimate of $2.51 by ($0.05). The company had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.30 billion. Avery Dennison had a return on equity of 40.82% and a net margin of 8.88%. The business’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.14 EPS. On average, sell-side analysts predict that Avery Dennison Co. will post 9.64 earnings per share for the current year.

Avery Dennison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 21st. Shareholders of record on Wednesday, December 7th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date was Tuesday, December 6th. Avery Dennison’s dividend payout ratio is currently 30.33%.

Analyst Ratings Changes

AVY has been the topic of several recent analyst reports. Citigroup boosted their price objective on shares of Avery Dennison from $204.00 to $216.00 in a research note on Wednesday, January 4th. Raymond James lowered their price objective on shares of Avery Dennison from $200.00 to $190.00 and set an “outperform” rating on the stock in a research note on Thursday, October 27th. Robert W. Baird lowered their price objective on shares of Avery Dennison from $250.00 to $210.00 in a research note on Thursday, October 27th. Bank of America upgraded shares of Avery Dennison from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $200.00 to $205.00 in a research note on Thursday, December 15th. Finally, StockNews.com lowered shares of Avery Dennison from a “buy” rating to a “hold” rating in a research note on Thursday, December 15th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Avery Dennison presently has an average rating of “Moderate Buy” and a consensus price target of $201.44.

About Avery Dennison

(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 under the Fasson, JAC, and Avery Dennison brands; graphics products under the Avery Dennison and Mactac brands; and reflective products under the Avery Dennison brand.

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

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