Comgest Global Investors S.A.S. Acquires 7,144 Shares of Avery Dennison Co. (NYSE:AVY)

Comgest Global Investors S.A.S. raised its stake in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 3.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 239,705 shares of the industrial products company's stock after acquiring an additional 7,144 shares during the period. Avery Dennison comprises approximately 0.8% of Comgest Global Investors S.A.S.'s investment portfolio, making the stock its 21st largest holding. Comgest Global Investors S.A.S. owned 0.30% of Avery Dennison worth $52,917,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of AVY. Cetera Investment Advisers boosted its holdings in Avery Dennison by 195.2% in the 1st quarter. Cetera Investment Advisers now owns 17,863 shares of the industrial products company's stock valued at $3,988,000 after purchasing an additional 11,811 shares during the period. Natixis boosted its holdings in Avery Dennison by 365.9% in the 1st quarter. Natixis now owns 4,552 shares of the industrial products company's stock valued at $1,016,000 after purchasing an additional 3,575 shares during the period. SG Americas Securities LLC boosted its holdings in Avery Dennison by 86.5% in the 2nd quarter. SG Americas Securities LLC now owns 32,538 shares of the industrial products company's stock valued at $7,114,000 after purchasing an additional 15,092 shares during the period. McElhenny Sheffield Capital Management LLC bought a new position in Avery Dennison in the 2nd quarter valued at $543,000. Finally, Swedbank AB boosted its holdings in Avery Dennison by 1.0% in the 2nd quarter. Swedbank AB now owns 462,083 shares of the industrial products company's stock valued at $101,034,000 after purchasing an additional 4,673 shares during the period. 94.17% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Chairman Mitchell R. Butier sold 10,000 shares of the company's stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $212.90, for a total value of $2,129,000.00. Following the sale, the chairman now owns 304,114 shares in the company, valued at $64,745,870.60. This represents a 3.18 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last 90 days, insiders have sold 27,108 shares of company stock valued at $5,821,497. Corporate insiders own 1.10% of the company's stock.

Avery Dennison Trading Down 1.1 %

Shares of AVY stock traded down $2.18 during mid-day trading on Friday, reaching $197.73. The stock had a trading volume of 460,769 shares, compared to its average volume of 467,220. The stock's 50-day moving average price is $212.79 and its two-hundred day moving average price is $217.52. Avery Dennison Co. has a 52-week low of $186.66 and a 52-week high of $233.48. The firm has a market capitalization of $15.89 billion, a PE ratio of 23.74, a price-to-earnings-growth ratio of 1.56 and a beta of 0.89. The company has a current ratio of 0.92, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85.

Avery Dennison (NYSE:AVY - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $2.18 billion for the quarter, compared to analysts' expectations of $2.20 billion. During the same quarter in the previous year, the company earned $2.10 earnings per share. The company's revenue for the quarter was up 4.1% compared to the same quarter last year. Equities analysts expect that Avery Dennison Co. will post 9.42 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date is Wednesday, December 4th. Avery Dennison's payout ratio is 42.26%.

Analyst Ratings Changes

Several brokerages have commented on AVY. StockNews.com downgraded shares of Avery Dennison from a "buy" rating to a "hold" rating in a report on Thursday, October 24th. JPMorgan Chase & Co. cut shares of Avery Dennison from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $230.00 to $210.00 in a research report on Thursday, October 24th. Citigroup lowered their price objective on shares of Avery Dennison from $241.00 to $240.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 2nd. Bank of America upgraded shares of Avery Dennison from an "underperform" rating to a "buy" rating and raised their price objective for the company from $207.00 to $250.00 in a research report on Thursday, October 17th. Finally, Truist Financial raised their price objective on shares of Avery Dennison from $253.00 to $258.00 and gave the company a "buy" rating in a research report on Wednesday, July 24th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Avery Dennison currently has an average rating of "Moderate Buy" and a consensus target price of $244.96.

Avery Dennison 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.