Point72 Asset Management L.P. Has $13.72 Million Stock Holdings in Avery Dennison Co. (NYSE:AVY)

Point72 Asset Management L.P. lifted its stake in Avery Dennison Co. (NYSE:AVY - Free Report) by 80.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 62,167 shares of the industrial products company's stock after purchasing an additional 27,765 shares during the quarter. Point72 Asset Management L.P. owned 0.08% of Avery Dennison worth $13,724,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Innealta Capital LLC acquired a new position in Avery Dennison in the 2nd quarter worth about $28,000. Larson Financial Group LLC raised its position in Avery Dennison by 100.0% during the third quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company's stock valued at $31,000 after acquiring an additional 71 shares in the last quarter. Kennebec Savings Bank bought a new position in Avery Dennison during the third quarter valued at approximately $36,000. Peterson Financial Group Inc. acquired a new stake in Avery Dennison in the third quarter valued at approximately $39,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Avery Dennison in the second quarter valued at approximately $42,000. 94.17% of the stock is owned by hedge funds and other institutional investors.

Avery Dennison Stock Performance

Shares of Avery Dennison stock traded down $0.79 during midday trading on Friday, hitting $202.50. The company had a trading volume of 594,624 shares, compared to its average volume of 500,643. Avery Dennison Co. has a 1-year low of $190.04 and a 1-year high of $233.48. The business's 50 day simple moving average is $208.28 and its two-hundred day simple moving average is $215.37. The stock has a market cap of $16.27 billion, a PE ratio of 24.31, a P/E/G ratio of 1.57 and a beta of 0.87. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.92 and a quick ratio of 0.62.

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, topping the consensus estimate of $2.32 by $0.01. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same period last year, the business posted $2.10 EPS. The business's quarterly revenue was up 4.1% on a year-over-year basis. As a group, equities analysts predict that Avery Dennison Co. will post 9.42 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The company also recently disclosed 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. This represents a $3.52 annualized dividend and a dividend yield of 1.74%. The ex-dividend date is Wednesday, December 4th. Avery Dennison's payout ratio is presently 42.26%.

Analyst Ratings Changes

AVY has been the topic of a number of recent research reports. Citigroup cut their price target on shares of Avery Dennison from $241.00 to $240.00 and set a "neutral" rating on the stock in a report on Wednesday, October 2nd. JPMorgan Chase & Co. downgraded shares of Avery Dennison from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $230.00 to $210.00 in a research report on Thursday, October 24th. StockNews.com cut Avery Dennison from a "buy" rating to a "hold" rating in a research report on Thursday, October 24th. Bank of America raised Avery Dennison from an "underperform" rating to a "buy" rating and increased their price objective for the company from $207.00 to $250.00 in a report on Thursday, October 17th. Finally, BMO Capital Markets reduced their target price on Avery Dennison from $252.00 to $247.00 and set an "outperform" rating for the company in a report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $244.96.

Insider Activity

In related news, SVP Nicholas Colisto sold 3,679 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $206.00, for a total value of $757,874.00. Following the completion of the transaction, 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 at this hyperlink. 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.