State Board of Administration of Florida Retirement System reduced its holdings in shares of Avery Dennison Co. (NYSE:AVY – Get Rating) by 0.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 99,054 shares of the industrial products company's stock after selling 700 shares during the period. State Board of Administration of Florida Retirement System owned about 0.12% of Avery Dennison worth $17,232,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in AVY. Capital Analysts LLC bought a new position in Avery Dennison during the 4th quarter valued at about $30,000. Edmond DE Rothschild Holding S.A. bought a new position in Avery Dennison during the 4th quarter valued at about $31,000. Exane Derivatives bought a new position in Avery Dennison during the 1st quarter valued at about $50,000. Mascoma Wealth Management LLC lifted its holdings in Avery Dennison by 60.2% during the 1st quarter. Mascoma Wealth Management LLC now owns 346 shares of the industrial products company's stock valued at $60,000 after purchasing an additional 130 shares during the last quarter. Finally, Signaturefd LLC lifted its holdings in Avery Dennison by 32.1% during the 1st quarter. Signaturefd LLC now owns 346 shares of the industrial products company's stock valued at $60,000 after purchasing an additional 84 shares during the last quarter. 88.83% of the stock is currently owned by institutional investors and hedge funds.
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Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on the stock. Loop Capital cut their price target on shares of Avery Dennison from $209.00 to $202.00 and set a "buy" rating for the company in a report on Wednesday, April 13th. StockNews.com raised shares of Avery Dennison from a "hold" rating to a "buy" rating in a report on Thursday, July 28th. Credit Suisse Group dropped their target price on shares of Avery Dennison from $195.00 to $188.00 in a research note on Wednesday, April 20th. Raymond James boosted their target price on shares of Avery Dennison from $185.00 to $200.00 in a research note on Thursday, April 28th. Finally, JPMorgan Chase & Co. raised shares of Avery Dennison from a "neutral" rating to an "overweight" rating and dropped their target price for the stock from $215.00 to $195.00 in a research note on Wednesday, April 27th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Avery Dennison currently has an average rating of "Moderate Buy" and a consensus target price of $205.57.
Avery Dennison Trading Down 0.1 %
AVY opened at $193.29 on Monday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.98 and a quick ratio of 0.65. The company has a market cap of $15.71 billion, a price-to-earnings ratio of 21.12, a price-to-earnings-growth ratio of 2.78 and a beta of 0.97. The firm has a 50 day simple moving average of $170.78 and a 200 day simple moving average of $174.47. Avery Dennison Co. has a fifty-two week low of $151.62 and a fifty-two week high of $229.24.
Avery Dennison (NYSE:AVY – Get Rating) last posted its quarterly earnings results on Wednesday, July 27th. The industrial products company reported $2.64 earnings per share for the quarter, topping analysts' consensus estimates of $2.37 by $0.27. The business had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.33 billion. Avery Dennison had a net margin of 8.48% and a return on equity of 40.75%. Avery Dennison's revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.25 earnings per share. On average, sell-side analysts anticipate that Avery Dennison Co. will post 9.93 earnings per share for the current year.
Avery Dennison Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 21st. Investors of record on Wednesday, September 7th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date is Tuesday, September 6th. Avery Dennison's dividend payout ratio (DPR) is 32.79%.
Avery Dennison Profile
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Avery Dennison Corporation manufactures and markets pressure-sensitive materials and products in the United States, Europe, Asia, Latin America, and internationally. The company's Label and Graphic Materials segment offers pressure-sensitive label and packaging materials; and graphics and reflective products under the Fasson, JAC, Avery Dennison, and Mactac brands, as well as durable cast and reflective films.
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