DAVENPORT & Co LLC Increases Position in Avery Dennison Co. (NYSE:AVY)

DAVENPORT & Co LLC lifted its holdings in Avery Dennison Co. (NYSE:AVY - Free Report) by 9.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 32,247 shares of the industrial products company's stock after purchasing an additional 2,703 shares during the quarter. DAVENPORT & Co LLC's holdings in Avery Dennison were worth $6,034,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. AQR Capital Management LLC lifted its holdings in Avery Dennison by 25.1% during the 2nd quarter. AQR Capital Management LLC now owns 14,058 shares of the industrial products company's stock valued at $3,074,000 after buying an additional 2,819 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Avery Dennison by 10.6% during the 2nd quarter. Millennium Management LLC now owns 68,885 shares of the industrial products company's stock worth $15,062,000 after purchasing an additional 6,627 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Avery Dennison in the 2nd quarter valued at about $2,710,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Avery Dennison during the second quarter worth $2,165,000. Finally, Czech National Bank raised its stake in Avery Dennison by 6.9% in the third quarter. Czech National Bank now owns 16,402 shares of the industrial products company's stock valued at $3,621,000 after buying an additional 1,052 shares during the last quarter. 94.17% of the stock is owned by institutional investors.

Insider Transactions at Avery Dennison

In related news, SVP Nicholas Colisto sold 3,679 shares of the stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 7,126 shares of the company's stock, valued at approximately $1,467,956. This trade represents a 34.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.10% of the company's stock.

Avery Dennison Price Performance

AVY traded down $2.58 during midday trading on Friday, hitting $179.10. 675,442 shares of the company traded hands, compared to its average volume of 794,594. The company has a market capitalization of $14.39 billion, a price-to-earnings ratio of 20.54, a PEG ratio of 1.37 and a beta of 0.89. The business has a 50 day simple moving average of $191.39 and a two-hundred day simple moving average of $205.02. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 1.10. Avery Dennison Co. has a 52-week low of $178.72 and a 52-week high of $233.48.

Avery Dennison (NYSE:AVY - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.38 EPS for the quarter, missing the consensus estimate of $2.39 by ($0.01). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. On average, equities analysts forecast that Avery Dennison Co. will post 10.03 earnings per share for the current fiscal year.

Avery Dennison Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be paid a dividend of $0.88 per share. The ex-dividend date is Wednesday, March 5th. This represents a $3.52 annualized dividend and a yield of 1.97%. Avery Dennison's dividend payout ratio (DPR) is presently 40.37%.

Analyst Ratings Changes

A number of analysts have commented on the company. Bank of America lowered their price target on Avery Dennison from $238.00 to $220.00 and set a "buy" rating for the company in a research report on Monday, January 6th. StockNews.com cut shares of Avery Dennison from a "buy" rating to a "hold" rating in a report on Thursday, October 24th. Barclays cut their price target on Avery Dennison from $245.00 to $225.00 and set an "overweight" rating on the stock in a research report on Monday. UBS Group decreased their price objective on Avery Dennison from $235.00 to $207.00 and set a "neutral" rating for the company in a report on Friday, January 10th. Finally, JPMorgan Chase & Co. upgraded Avery Dennison from a "neutral" rating to an "overweight" rating and reduced their price target for the company from $210.00 to $205.00 in a research report on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $227.15.

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.