Avery Dennison Co. (NYSE:AVY) Shares Acquired by TD Asset Management Inc

TD Asset Management Inc raised its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 1.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 302,905 shares of the industrial products company’s stock after buying an additional 4,968 shares during the period. TD Asset Management Inc owned about 0.38% of Avery Dennison worth $52,039,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Tokio Marine Asset Management Co. Ltd. boosted its holdings in Avery Dennison by 3.5% during the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,587 shares of the industrial products company’s stock worth $273,000 after buying an additional 54 shares in the last quarter. Savant Capital LLC boosted its holdings in Avery Dennison by 3.3% during the first quarter. Savant Capital LLC now owns 1,842 shares of the industrial products company’s stock worth $330,000 after buying an additional 58 shares in the last quarter. Raymond James Trust N.A. boosted its holdings in Avery Dennison by 1.2% during the first quarter. Raymond James Trust N.A. now owns 5,378 shares of the industrial products company’s stock worth $963,000 after buying an additional 62 shares in the last quarter. Yousif Capital Management LLC boosted its holdings in Avery Dennison by 0.5% during the first quarter. Yousif Capital Management LLC now owns 12,732 shares of the industrial products company’s stock worth $2,215,000 after buying an additional 65 shares in the last quarter. Finally, Brown Brothers Harriman & Co. boosted its holdings in Avery Dennison by 23.4% during the first quarter. Brown Brothers Harriman & Co. now owns 385 shares of the industrial products company’s stock worth $69,000 after buying an additional 73 shares in the last quarter. 91.09% of the stock is currently owned by institutional investors.

Avery Dennison Stock Up 0.5 %

Avery Dennison stock opened at $188.88 on Thursday. The company has a market capitalization of $15.21 billion, a P/E ratio of 31.74, a P/E/G ratio of 3.26 and a beta of 0.91. The firm’s fifty day simple moving average is $180.13 and its 200-day simple moving average is $176.68. The company has a current ratio of 1.03, a quick ratio of 0.68 and a debt-to-equity ratio of 1.26. Avery Dennison Co. has a 1-year low of $158.93 and a 1-year high of $195.95.

Avery Dennison (NYSE:AVY) last released its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates of $2.07 by $0.03. The business had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.17 billion. Avery Dennison had a net margin of 5.83% and a return on equity of 29.38%. Avery Dennison’s revenue for the quarter was down 9.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.46 EPS. Sell-side analysts forecast that Avery Dennison Co. will post 7.86 earnings per share for the current fiscal year.

Avery Dennison Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Wednesday, December 6th will be issued a dividend of $0.81 per share. The ex-dividend date is Tuesday, December 5th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 1.72%. Avery Dennison’s dividend payout ratio is currently 54.45%.

Wall Street Analyst Weigh In

AVY has been the subject of a number of recent analyst reports. StockNews.com initiated coverage on shares of Avery Dennison in a research note on Thursday, October 5th. They issued a “hold” rating for the company. UBS Group raised shares of Avery Dennison from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $184.00 to $220.00 in a research note on Wednesday, August 23rd. Citigroup raised their price objective on shares of Avery Dennison from $205.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, October 13th. BMO Capital Markets lifted their target price on shares of Avery Dennison from $200.00 to $211.00 and gave the company an “outperform” rating in a research note on Monday, September 25th. Finally, Loop Capital lifted their target price on shares of Avery Dennison from $201.00 to $214.00 and gave the company a “buy” rating in a research note on Thursday, September 21st. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $207.25.

Insider Buying and Selling

In related news, SVP Ignacio J. Walker sold 403 shares of Avery Dennison stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $180.33, for a total value of $72,672.99. Following the transaction, the senior vice president now owns 11,102 shares in the company, valued at approximately $2,002,023.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Julia A. Stewart sold 5,633 shares of Avery Dennison stock in a transaction on Monday, August 28th. The shares were sold at an average price of $186.14, for a total value of $1,048,526.62. Following the transaction, the director now owns 10,329 shares in the company, valued at approximately $1,922,640.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Ignacio J. Walker sold 403 shares of the firm’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $180.33, for a total transaction of $72,672.99. Following the completion of the sale, the senior vice president now owns 11,102 shares in the company, valued at $2,002,023.66. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Avery Dennison Profile

Avery Dennison Corporation operates as materials science and digital identification solutions company. It provides branding and information labeling solutions, including pressure-sensitive materials, radio-frequency identification (RFID) inlays and tags, and various converted products and solutions. The company designs and manufactures a range of labeling and functional materials that enhance branded packaging, carry or display information that connects the physical and the digital, and improve customers' product performance.