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Icon Wealth Advisors LLC Increases Position in Avery Dennison Co. (NYSE:AVY)

Avery Dennison logo with Industrial Products background

Icon Wealth Advisors LLC grew its holdings in Avery Dennison Co. (NYSE:AVY - Free Report) by 553.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,137 shares of the industrial products company's stock after purchasing an additional 2,657 shares during the quarter. Icon Wealth Advisors LLC's holdings in Avery Dennison were worth $693,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Innealta Capital LLC acquired a new stake in Avery Dennison during the second quarter worth about $28,000. Kennebec Savings Bank purchased a new stake in shares of Avery Dennison during the 3rd quarter valued at approximately $36,000. Peterson Financial Group Inc. acquired a new position in Avery Dennison in the third quarter valued at approximately $39,000. Ashton Thomas Private Wealth LLC acquired a new stake in Avery Dennison during the second quarter worth $42,000. Finally, 1620 Investment Advisors Inc. acquired a new stake in Avery Dennison during the second quarter worth $51,000. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Read Our Latest Analysis on AVY

Avery Dennison Stock Up 1.5 %

Shares of AVY stock traded up $3.00 during trading hours on Friday, reaching $202.59. 510,657 shares of the stock were exchanged, compared to its average volume of 525,569. Avery Dennison Co. has a 12-month low of $187.93 and a 12-month high of $233.48. The business's fifty day moving average is $210.78 and its two-hundred day moving average is $216.80. 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 firm has a market capitalization of $16.28 billion, a P/E ratio of 24.32, a P/E/G ratio of 1.53 and a beta of 0.89.

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, topping the consensus estimate of $2.32 by $0.01. The business 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%. The company's revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the previous year, the company earned $2.10 EPS. As a group, research analysts expect that Avery Dennison Co. will post 9.42 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be issued a dividend of $0.88 per share. The ex-dividend date is Wednesday, December 4th. This represents a $3.52 dividend on an annualized basis and a yield of 1.74%. Avery Dennison's payout ratio is currently 42.26%.

Avery Dennison Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Avery Dennison (NYSE:AVY)

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