Geode Capital Management LLC Has $459.62 Million Stock Holdings in Avery Dennison Co. (NYSE:AVY)

Geode Capital Management LLC increased its stake in Avery Dennison Co. (NYSE:AVY - Free Report) by 8.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,088,516 shares of the industrial products company's stock after purchasing an additional 157,754 shares during the period. Geode Capital Management LLC owned 2.60% of Avery Dennison worth $459,621,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. boosted its stake in shares of Avery Dennison by 6.6% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 25,536 shares of the industrial products company's stock valued at $5,637,000 after purchasing an additional 1,591 shares during the last quarter. MML Investors Services LLC lifted its holdings in Avery Dennison by 20.6% in the third quarter. MML Investors Services LLC now owns 10,752 shares of the industrial products company's stock valued at $2,374,000 after buying an additional 1,837 shares during the period. Orion Portfolio Solutions LLC boosted its stake in Avery Dennison by 4.5% in the third quarter. Orion Portfolio Solutions LLC now owns 7,500 shares of the industrial products company's stock valued at $1,656,000 after acquiring an additional 320 shares during the last quarter. World Investment Advisors LLC grew its holdings in Avery Dennison by 2,629.0% during the 3rd quarter. World Investment Advisors LLC now owns 91,857 shares of the industrial products company's stock worth $20,278,000 after acquiring an additional 88,491 shares during the period. Finally, XTX Topco Ltd raised its position in shares of Avery Dennison by 73.9% during the 3rd quarter. XTX Topco Ltd now owns 3,385 shares of the industrial products company's stock valued at $747,000 after acquiring an additional 1,438 shares during the last quarter. Institutional investors and hedge funds own 94.17% of the company's stock.

Insider Buying and Selling

In other news, SVP Nicholas Colisto sold 3,679 shares of Avery Dennison stock in a transaction on Monday, November 25th. The stock was sold at an average price of $206.00, for a total value of $757,874.00. Following the transaction, the senior vice president now owns 7,126 shares in the company, valued at approximately $1,467,956. This trade represents a 34.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.10% of the stock is currently owned by company insiders.

Avery Dennison Stock Performance

Shares of Avery Dennison stock traded down $2.65 on Friday, hitting $195.02. The stock had a trading volume of 375,403 shares, compared to its average volume of 473,958. The stock has a market cap of $15.67 billion, a price-to-earnings ratio of 23.41, a price-to-earnings-growth ratio of 1.52 and a beta of 0.87. The business's 50 day moving average is $206.90 and its two-hundred day moving average is $214.60. The company has a quick ratio of 0.62, a current ratio of 0.92 and a debt-to-equity ratio of 0.85. Avery Dennison Co. has a twelve month low of $193.49 and a twelve month high of $233.48.

Avery Dennison (NYSE:AVY - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 EPS for the quarter, beating the consensus estimate of $2.32 by $0.01. The business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.20 billion. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. Avery Dennison's revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.10 earnings per share. Analysts forecast that Avery Dennison Co. will post 9.42 EPS for the current year.

Avery Dennison Dividend Announcement

The business also recently declared 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 (DPR) is presently 42.26%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AVY. Barclays cut their target price on shares of Avery Dennison from $250.00 to $245.00 and set an "overweight" rating on the stock in a report on Monday, October 28th. Bank of America upgraded Avery Dennison from an "underperform" rating to a "buy" rating and lifted their target price for the stock from $207.00 to $250.00 in a report on Thursday, October 17th. JPMorgan Chase & Co. downgraded Avery Dennison from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $230.00 to $210.00 in a report on Thursday, October 24th. StockNews.com lowered Avery Dennison from a "buy" rating to a "hold" rating in a research report on Thursday, October 24th. Finally, BMO Capital Markets decreased their price objective on Avery Dennison from $252.00 to $247.00 and set an "outperform" rating for the company in a research report on Thursday, October 24th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $244.96.

Avery Dennison Company 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.