JPMorgan Chase & Co. Boosts Stock Position in Avery Dennison Co. (NYSE:AVY)

JPMorgan Chase & Co. boosted its position in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 12.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 420,232 shares of the industrial products company's stock after purchasing an additional 46,390 shares during the period. JPMorgan Chase & Co. owned approximately 0.52% of Avery Dennison worth $92,771,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Van ECK Associates Corp purchased a new stake in Avery Dennison in the 2nd quarter valued at about $2,604,000. Farther Finance Advisors LLC lifted its holdings in shares of Avery Dennison by 1,282.4% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,175 shares of the industrial products company's stock worth $251,000 after acquiring an additional 1,090 shares during the last quarter. Jackson Creek Investment Advisors LLC purchased a new position in shares of Avery Dennison during the 2nd quarter worth approximately $245,000. Oregon Public Employees Retirement Fund increased its holdings in Avery Dennison by 1.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 6,940 shares of the industrial products company's stock valued at $1,517,000 after purchasing an additional 100 shares during the last quarter. Finally, TD Asset Management Inc raised its position in Avery Dennison by 3.9% in the second quarter. TD Asset Management Inc now owns 340,263 shares of the industrial products company's stock valued at $74,399,000 after purchasing an additional 12,788 shares during the period. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. 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. BMO Capital Markets cut their price target on shares of Avery Dennison from $252.00 to $247.00 and set an "outperform" rating on the stock in a research note on Thursday, October 24th. Bank of America raised 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 note on Thursday, October 17th. Citigroup cut their target price on shares of Avery Dennison from $241.00 to $240.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 2nd. Finally, StockNews.com cut shares of Avery Dennison from a "buy" rating to a "hold" rating in a research report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $244.96.

Avery Dennison Stock Up 1.0 %

Shares of NYSE:AVY traded up $1.78 on Friday, hitting $185.09. 915,336 shares of the company's stock were exchanged, compared to its average volume of 767,968. Avery Dennison Co. has a 1-year low of $181.99 and a 1-year high of $233.48. The company has a market capitalization of $14.87 billion, a PE ratio of 22.22, a P/E/G ratio of 1.52 and a beta of 0.87. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.92. The firm's 50-day moving average is $198.61 and its 200 day moving average is $210.38.

Avery Dennison (NYSE:AVY - Get Free Report) last announced its quarterly 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 firm had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.20 billion. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The firm's quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.10 earnings per share. Sell-side analysts predict that Avery Dennison Co. will post 9.42 EPS for the current year.

Avery Dennison Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th were paid a $0.88 dividend. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $3.52 annualized dividend and a yield of 1.90%. Avery Dennison's dividend payout ratio is presently 42.26%.

Insiders Place Their Bets

In other 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 directly owns 7,126 shares of the company's stock, valued at approximately $1,467,956. This represents a 34.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.10% of the company's stock.

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.