Fmr LLC Has $203.43 Million Position in Avery Dennison Co. (NYSE:AVY)

FMR LLC trimmed its holdings in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 11.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 921,477 shares of the industrial products company's stock after selling 120,332 shares during the period. FMR LLC owned approximately 1.15% of Avery Dennison worth $203,425,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Innealta Capital LLC bought a new position in shares of Avery Dennison during the 2nd quarter worth about $28,000. Larson Financial Group LLC increased its position in shares of Avery Dennison by 100.0% during the 3rd quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company's stock worth $31,000 after purchasing an additional 71 shares in the last quarter. Kennebec Savings Bank acquired a new stake in shares of Avery Dennison during the 3rd quarter worth about $36,000. Peterson Financial Group Inc. acquired a new stake in shares of Avery Dennison during the 3rd quarter worth about $39,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Avery Dennison during the 2nd quarter worth about $42,000. 94.17% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on AVY shares. BMO Capital Markets dropped their target price on shares of Avery Dennison from $252.00 to $247.00 and set an "outperform" rating for the company in a research report on Thursday, October 24th. Bank of America upgraded shares of Avery Dennison from an "underperform" rating to a "buy" rating and lifted their price target for the stock from $207.00 to $250.00 in a research report on Thursday, October 17th. Citigroup lowered their price target on shares of Avery Dennison from $241.00 to $240.00 and set a "neutral" rating for the company in a research report on Wednesday, October 2nd. StockNews.com cut shares of Avery Dennison from a "buy" rating to a "hold" rating in a research report on Thursday, October 24th. Finally, Barclays lowered their price target on shares of Avery Dennison from $250.00 to $245.00 and set an "overweight" rating for the company in a research report on Monday, October 28th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $244.96.

Avery Dennison Stock Performance

Shares of NYSE:AVY traded down $0.52 on Tuesday, hitting $205.62. The company had a trading volume of 344,108 shares, compared to its average volume of 471,551. Avery Dennison Co. has a 1-year low of $190.04 and a 1-year high of $233.48. The stock has a market cap of $16.52 billion, a price-to-earnings ratio of 24.74, a P/E/G ratio of 1.58 and a beta of 0.87. The stock has a 50 day moving average price of $209.61 and a 200 day moving average price of $215.85. 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 announced its earnings results 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. The company had revenue of $2.18 billion during the quarter, compared to analysts' expectations of $2.20 billion. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. Avery Dennison's quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.10 earnings per share. Analysts expect that Avery Dennison Co. will post 9.42 EPS for the current 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 given a dividend of $0.88 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $3.52 annualized dividend and a yield of 1.71%. Avery Dennison's dividend payout ratio is 42.26%.

Insider Buying and Selling

In related news, SVP Nicholas Colisto sold 3,679 shares of the company's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $206.00, for a total transaction 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 $1,467,956. This represents a 34.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.10% of the stock is currently owned by company insiders.

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.