Toronto Dominion Bank Sells 12,292 Shares of Avery Dennison Co. (NYSE:AVY)

Toronto Dominion Bank lessened its holdings in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 31.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 27,068 shares of the industrial products company's stock after selling 12,292 shares during the quarter. Toronto Dominion Bank's holdings in Avery Dennison were worth $5,976,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Geode Capital Management LLC raised its holdings in Avery Dennison by 8.2% during the third quarter. Geode Capital Management LLC now owns 2,088,516 shares of the industrial products company's stock worth $459,621,000 after purchasing an additional 157,754 shares in the last quarter. National Bank of Canada FI lifted its holdings in shares of Avery Dennison by 795.2% in the second quarter. National Bank of Canada FI now owns 160,248 shares of the industrial products company's stock valued at $34,190,000 after buying an additional 142,348 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Avery Dennison by 179.5% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 216,135 shares of the industrial products company's stock valued at $47,258,000 after buying an additional 138,808 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Avery Dennison by 6.8% during the third quarter. Victory Capital Management Inc. now owns 1,416,798 shares of the industrial products company's stock worth $312,772,000 after acquiring an additional 90,250 shares during the period. Finally, World Investment Advisors LLC raised its position in Avery Dennison by 2,629.0% in the third 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 in the last quarter. Institutional investors own 94.17% of the company's stock.

Avery Dennison Stock Down 1.3 %

AVY traded down $2.53 on Friday, reaching $195.14. 375,403 shares of the company traded hands, compared to its average volume of 473,958. Avery Dennison Co. has a 52-week low of $193.49 and a 52-week high of $233.48. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.92 and a quick ratio of 0.62. The company has a market cap of $15.68 billion, a price-to-earnings ratio of 23.43, a PEG ratio of 1.52 and a beta of 0.87. The stock's 50 day moving average price is $206.51 and its 200-day moving average price is $214.30.

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

Avery Dennison Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a $0.88 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $3.52 dividend on an annualized basis and a yield of 1.80%. Avery Dennison's dividend payout ratio is currently 42.26%.

Analysts Set New Price Targets

AVY has been the topic of several recent research reports. StockNews.com cut shares of Avery Dennison from a "buy" rating to a "hold" rating in a research note on Thursday, October 24th. Barclays dropped their price target on 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 increased their price objective for the company from $207.00 to $250.00 in a research report on Thursday, October 17th. JPMorgan Chase & Co. cut Avery Dennison from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $230.00 to $210.00 in a report on Thursday, October 24th. Finally, BMO Capital Markets reduced their target price on Avery Dennison from $252.00 to $247.00 and set an "outperform" rating for the company in a report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $244.96.

Insider Activity at Avery Dennison

In other Avery Dennison news, SVP Nicholas Colisto sold 3,679 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $206.00, for a total transaction of $757,874.00. Following the transaction, the senior vice president now directly owns 7,126 shares of the company's stock, valued at $1,467,956. This represents a 34.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.10% of the company's stock.

About Avery Dennison

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.