CIBC Asset Management Inc grew its holdings in Avery Dennison Co. (NYSE:AVY – Get Rating) by 1.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 12,162 shares of the industrial products company's stock after purchasing an additional 157 shares during the period. CIBC Asset Management Inc's holdings in Avery Dennison were worth $2,116,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Capital Analysts LLC bought a new stake in Avery Dennison during the 4th quarter worth $30,000. Edmond DE Rothschild Holding S.A. bought a new stake in Avery Dennison during the 4th quarter worth $31,000. Exane Derivatives bought a new stake in Avery Dennison during the 1st quarter worth $50,000. Mascoma Wealth Management LLC grew its position 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 worth $60,000 after acquiring an additional 130 shares during the last quarter. Finally, Signaturefd LLC grew its position in Avery Dennison by 32.1% during the 1st quarter. Signaturefd LLC now owns 346 shares of the industrial products company's stock worth $60,000 after acquiring an additional 84 shares during the last quarter. Institutional investors own 88.83% of the company's stock.
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Shares of NYSE:AVY opened at $193.29 on Monday. The company has a market capitalization of $15.71 billion, a price-to-earnings ratio of 21.12, a P/E/G ratio of 2.78 and a beta of 0.97. 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 business's 50-day moving average is $170.78 and its 200-day moving average is $174.47. Avery Dennison Co. has a 1 year low of $151.62 and a 1 year high of $229.24.
Avery Dennison (NYSE:AVY – Get Rating) last announced its quarterly earnings data on Wednesday, July 27th. The industrial products company reported $2.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.37 by $0.27. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.33 billion. Avery Dennison had a return on equity of 40.75% and a net margin of 8.48%. The firm's revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.25 EPS. Equities research analysts predict that Avery Dennison Co. will post 9.93 earnings per share for the current year.Avery Dennison Announces Dividend
The company 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 yield of 1.55%. The ex-dividend date of this dividend is Tuesday, September 6th. Avery Dennison's dividend payout ratio (DPR) is currently 32.79%.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on AVY shares. UBS Group reduced their price objective on Avery Dennison from $195.00 to $180.00 in a research report on Wednesday, July 13th. Loop Capital reduced their price target on Avery Dennison from $209.00 to $202.00 and set a "buy" rating on the stock in a research report on Wednesday, April 13th. Credit Suisse Group reduced their price target on Avery Dennison from $195.00 to $188.00 in a research report on Wednesday, April 20th. JPMorgan Chase & Co. upgraded Avery Dennison from a "neutral" rating to an "overweight" rating and reduced their price target for the company from $215.00 to $195.00 in a research report on Wednesday, April 27th. Finally, Raymond James upped their price target on Avery Dennison from $185.00 to $200.00 in a research report on Thursday, April 28th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $205.57.
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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