Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Avery Dennison Co. (NYSE:AVY – Free Report) by 15.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,203 shares of the industrial products company’s stock after buying an additional 2,124 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Avery Dennison were worth $2,960,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of AVY. Vanguard Group Inc. boosted its position in Avery Dennison by 0.3% in the first quarter. Vanguard Group Inc. now owns 9,674,317 shares of the industrial products company’s stock worth $1,683,041,000 after purchasing an additional 24,670 shares during the last quarter. BlackRock Inc. raised its stake in shares of Avery Dennison by 12.0% during the 2nd quarter. BlackRock Inc. now owns 7,342,715 shares of the industrial products company’s stock valued at $1,261,478,000 after purchasing an additional 787,201 shares during the period. State Street Corp raised its stake in shares of Avery Dennison by 4.2% during the 2nd quarter. State Street Corp now owns 3,752,374 shares of the industrial products company’s stock valued at $644,658,000 after purchasing an additional 150,945 shares during the period. Lazard Asset Management LLC increased its stake in Avery Dennison by 38.5% in the 2nd quarter. Lazard Asset Management LLC now owns 2,316,506 shares of the industrial products company’s stock worth $397,974,000 after acquiring an additional 643,675 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Avery Dennison by 1.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,242,669 shares of the industrial products company’s stock worth $405,923,000 after acquiring an additional 39,266 shares during the last quarter. Hedge funds and other institutional investors own 91.09% of the company’s stock.
Avery Dennison Stock Performance
AVY stock opened at $206.81 on Tuesday. The company has a market cap of $16.65 billion, a P/E ratio of 33.30, a price-to-earnings-growth ratio of 3.13 and a beta of 0.90. Avery Dennison Co. has a 1 year low of $158.93 and a 1 year high of $208.46. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.04 and a quick ratio of 0.69. The stock’s fifty day moving average price is $198.78 and its 200-day moving average price is $188.45.
Avery Dennison Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th will be given a dividend of $0.81 per share. The ex-dividend date of this dividend is Tuesday, March 5th. This represents a $3.24 annualized dividend and a yield of 1.57%. Avery Dennison’s dividend payout ratio (DPR) is presently 52.17%.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on AVY shares. Citigroup lowered Avery Dennison from a “buy” rating to a “neutral” rating and upped their target price for the stock from $197.00 to $214.00 in a research note on Wednesday, January 3rd. JPMorgan Chase & Co. increased their target price on Avery Dennison from $185.00 to $218.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. Bank of America lowered Avery Dennison from a “buy” rating to an “underperform” rating and set a $208.00 price target for the company. in a research report on Tuesday, January 2nd. UBS Group upped their price target on Avery Dennison from $225.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, January 11th. Finally, Raymond James increased their target price on Avery Dennison from $199.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Avery Dennison currently has an average rating of “Moderate Buy” and a consensus price target of $218.78.
Insider Activity at Avery Dennison
In related news, Director Julia A. Stewart sold 5,311 shares of Avery Dennison stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $202.26, for a total transaction of $1,074,202.86. Following the transaction, the director now directly owns 5,018 shares in the company, valued at $1,014,940.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is owned by company insiders.
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.
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