Avery Dennison Co. (NYSE:AVY) Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. grew its position in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 0.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 9,681,709 shares of the industrial products company's stock after acquiring an additional 33,149 shares during the quarter. Vanguard Group Inc. owned about 12.05% of Avery Dennison worth $1,811,738,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC lifted its position in Avery Dennison by 8.2% during the third quarter. Geode Capital Management LLC now owns 2,088,516 shares of the industrial products company's stock valued at $459,621,000 after purchasing an additional 157,754 shares during the last quarter. Boston Partners increased its stake in Avery Dennison by 7.7% during the fourth quarter. Boston Partners now owns 926,506 shares of the industrial products company's stock worth $173,385,000 after acquiring an additional 66,216 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Avery Dennison by 21.4% during the 4th quarter. Bank of New York Mellon Corp now owns 764,591 shares of the industrial products company's stock valued at $143,078,000 after buying an additional 134,560 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Avery Dennison by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 699,091 shares of the industrial products company's stock worth $130,821,000 after buying an additional 10,674 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in Avery Dennison by 0.8% during the third quarter. Principal Financial Group Inc. now owns 617,611 shares of the industrial products company's stock valued at $136,338,000 after acquiring an additional 4,670 shares during the last quarter. 94.17% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Citigroup dropped their price target on shares of Avery Dennison from $228.00 to $202.00 and set a "neutral" rating for the company in a research note on Monday, January 6th. Robert W. Baird set a $220.00 target price on Avery Dennison in a research report on Friday, January 31st. UBS Group reduced their price target on Avery Dennison from $235.00 to $207.00 and set a "neutral" rating on the stock in a report on Friday, January 10th. BMO Capital Markets set a $226.00 price objective on Avery Dennison in a report on Monday, February 3rd. Finally, Bank of America cut their price objective on Avery Dennison from $238.00 to $220.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $222.51.

Insider Activity at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 8,068 shares of Avery Dennison stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $186.19, for a total transaction of $1,502,180.92. Following the completion of the transaction, the chairman now owns 316,300 shares in the company, valued at approximately $58,891,897. This trade represents a 2.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.84% of the stock is currently owned by insiders.

Avery Dennison Stock Performance

Shares of NYSE AVY traded up $2.28 during mid-day trading on Monday, hitting $178.05. The stock had a trading volume of 716,426 shares, compared to its average volume of 542,225. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08. The company has a 50 day moving average of $183.02 and a two-hundred day moving average of $196.14. The firm has a market cap of $14.06 billion, a PE ratio of 20.42, a PEG ratio of 2.07 and a beta of 0.85. Avery Dennison Co. has a twelve month low of $173.02 and a twelve month high of $233.48.

Avery Dennison (NYSE:AVY - Get Free Report) last released its earnings results on Thursday, January 30th. The industrial products company reported $2.38 EPS for the quarter, missing analysts' consensus estimates of $2.39 by ($0.01). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. Research analysts predict that Avery Dennison Co. will post 9.96 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were issued a dividend of $0.88 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $3.52 annualized dividend and a dividend yield of 1.98%. Avery Dennison's dividend payout ratio (DPR) is presently 40.37%.

Avery Dennison Company 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.