World Investment Advisors LLC Raises Stock Holdings in Avery Dennison Co. (NYSE:AVY)

World Investment Advisors LLC increased its position in Avery Dennison Co. (NYSE:AVY - Free Report) by 2,629.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 91,857 shares of the industrial products company's stock after buying an additional 88,491 shares during the period. World Investment Advisors LLC owned 0.11% of Avery Dennison worth $20,278,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in AVY. Innealta Capital LLC purchased a new stake in Avery Dennison during the second quarter valued at approximately $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 purchasing an additional 71 shares during the period. Kennebec Savings Bank purchased a new stake in Avery Dennison during the third quarter valued at approximately $36,000. Peterson Financial Group Inc. purchased a new stake in Avery Dennison during the third quarter valued at approximately $39,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Avery Dennison during the second quarter valued at approximately $42,000. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AVY has been the topic of a number of recent research reports. StockNews.com downgraded Avery Dennison from a "buy" rating to a "hold" rating in a research report on Thursday, October 24th. Citigroup reduced their price target on 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 Avery Dennison from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $230.00 to $210.00 in a report on Thursday, October 24th. Bank of America upgraded Avery Dennison from an "underperform" rating to a "buy" rating and increased their price target for the stock from $207.00 to $250.00 in a report on Thursday, October 17th. Finally, Barclays reduced their price target on Avery Dennison from $250.00 to $245.00 and set an "overweight" rating on the stock in a report on Monday, October 28th. Four equities 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, Avery Dennison presently has a consensus rating of "Moderate Buy" and a consensus target price of $244.96.

Avery Dennison Stock Down 0.4 %

NYSE AVY traded down $0.79 during midday trading on Friday, hitting $202.50. 594,624 shares of the company traded hands, compared to its average volume of 500,643. 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 company has a market cap of $16.27 billion, a PE ratio of 24.31, a price-to-earnings-growth ratio of 1.57 and a beta of 0.87. The company's 50-day simple moving average is $208.28 and its 200-day simple moving average is $215.18. Avery Dennison Co. has a 52 week low of $190.04 and a 52 week high of $233.48.

Avery Dennison (NYSE:AVY - Get Free Report) last announced its 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 for the quarter, compared to analysts' expectations of $2.20 billion. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The business's revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.10 EPS. As a group, equities research analysts forecast that Avery Dennison Co. will post 9.42 earnings per share for the current year.

Avery Dennison Announces Dividend

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

Insider Transactions at Avery Dennison

In other news, SVP Nicholas Colisto sold 3,679 shares of the firm's stock in a transaction 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 owns 7,126 shares of the company's stock, valued at $1,467,956. This trade represents a 34.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.10% of the company's stock.

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.