Pacer Advisors Inc. Purchases 10,882 Shares of Avery Dennison Co. (NYSE:AVY)

Pacer Advisors Inc. boosted its position in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 61.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,523 shares of the industrial products company's stock after buying an additional 10,882 shares during the quarter. Pacer Advisors Inc.'s holdings in Avery Dennison were worth $6,297,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Cetera Investment Advisers boosted its holdings in shares of Avery Dennison by 195.2% during the 1st quarter. Cetera Investment Advisers now owns 17,863 shares of the industrial products company's stock worth $3,988,000 after buying an additional 11,811 shares during the period. SG Americas Securities LLC raised its holdings in shares of Avery Dennison by 86.5% in the second quarter. SG Americas Securities LLC now owns 32,538 shares of the industrial products company's stock valued at $7,114,000 after buying an additional 15,092 shares during the last quarter. McElhenny Sheffield Capital Management LLC bought a new position in shares of Avery Dennison in the second quarter valued at about $543,000. Swedbank AB raised its holdings in shares of Avery Dennison by 1.0% in the second quarter. Swedbank AB now owns 462,083 shares of the industrial products company's stock valued at $101,034,000 after buying an additional 4,673 shares during the last quarter. Finally, Jane Street Group LLC raised its holdings in Avery Dennison by 11.0% during the 1st quarter. Jane Street Group LLC now owns 47,420 shares of the industrial products company's stock worth $10,587,000 after purchasing an additional 4,697 shares during the last quarter. Institutional investors own 94.17% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. 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 report on Thursday, October 24th. StockNews.com downgraded Avery Dennison from a "buy" rating to a "hold" rating in a research report on Thursday, October 24th. Barclays dropped their price objective on Avery Dennison from $250.00 to $245.00 and set an "overweight" rating on the stock in a research note on Monday, October 28th. Citigroup dropped their price target on 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, Bank of America raised shares of Avery Dennison from an "underperform" rating to a "buy" rating and boosted their price objective for the company from $207.00 to $250.00 in a report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Avery Dennison currently has an average rating of "Moderate Buy" and an average price target of $244.96.

Avery Dennison Price Performance

Shares of NYSE AVY traded up $4.38 during midday trading on Monday, hitting $206.97. 357,098 shares of the company's stock were exchanged, compared to its average volume of 469,327. The business's fifty day moving average price is $210.78 and its two-hundred day moving average price is $216.69. The company has a market cap of $16.63 billion, a price-to-earnings ratio of 24.32, a PEG ratio of 1.56 and a beta of 0.89. Avery Dennison Co. has a 12-month low of $187.93 and a 12-month high of $233.48. 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 posted its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.01. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates 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 was up 4.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.10 earnings per share. As a group, research analysts forecast that Avery Dennison Co. will post 9.42 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders 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 annualized dividend and a dividend yield of 1.70%. Avery Dennison's payout ratio is 42.26%.

About Avery Dennison

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.