Avery Dennison Corporation (AVY) Position Maintained by Rikoon Group LLC
Rikoon Group LLC held its position in Avery Dennison Corporation (NYSE:AVY) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,108 shares of the industrial products company’s stock at the end of the 2nd quarter. Rikoon Group LLC’s holdings in Avery Dennison Corporation were worth $539,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. American Beacon Advisors Inc. acquired a new stake in shares of Avery Dennison Corporation during the 1st quarter valued at about $105,000. Acrospire Investment Management LLC acquired a new stake in shares of Avery Dennison Corporation during the 2nd quarter valued at about $129,000. Captrust Financial Advisors acquired a new stake in shares of Avery Dennison Corporation during the 2nd quarter valued at about $130,000. Pacad Investment Ltd. acquired a new stake in shares of Avery Dennison Corporation during the 2nd quarter valued at about $141,000. Finally, Ameritas Investment Partners Inc. acquired a new stake in shares of Avery Dennison Corporation during the 1st quarter valued at about $171,000. Hedge funds and other institutional investors own 86.51% of the company’s stock.
In other Avery Dennison Corporation news, Director David E. I. Pyott sold 298 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $94.00, for a total transaction of $28,012.00. Following the transaction, the director now directly owns 16,601 shares in the company, valued at $1,560,494. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Patrick Siewert sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $93.63, for a total transaction of $936,300.00. Following the transaction, the director now owns 10,519 shares in the company, valued at $984,893.97. The disclosure for this sale can be found here. Insiders have sold 12,298 shares of company stock worth $1,152,312 over the last 90 days. 1.40% of the stock is currently owned by company insiders.
Avery Dennison Corporation (NYSE AVY) traded down 0.65% during midday trading on Monday, reaching $101.28. The company had a trading volume of 60,376 shares. The stock has a market capitalization of $8.95 billion, a PE ratio of 23.79 and a beta of 1.19. The firm’s 50 day moving average is $97.47 and its 200 day moving average is $89.61. Avery Dennison Corporation has a 1-year low of $68.55 and a 1-year high of $102.11.
Avery Dennison Corporation (NYSE:AVY) last issued its earnings results on Tuesday, July 25th. The industrial products company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.10. Avery Dennison Corporation had a net margin of 6.14% and a return on equity of 39.29%. The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same period in the prior year, the business posted $1.09 earnings per share. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. On average, equities analysts anticipate that Avery Dennison Corporation will post $4.83 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, September 1st. This represents a $1.80 annualized dividend and a yield of 1.77%. Avery Dennison Corporation’s payout ratio is currently 42.25%.
A number of equities research analysts have recently commented on the company. BidaskClub upgraded Avery Dennison Corporation from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 28th. Bank of America Corporation upgraded Avery Dennison Corporation from a “neutral” rating to a “buy” rating and raised their target price for the company from $90.00 to $96.00 in a research report on Tuesday, June 20th. Zacks Investment Research cut Avery Dennison Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Citigroup Inc. raised their target price on Avery Dennison Corporation from $106.00 to $108.00 and gave the company a “buy” rating in a research report on Wednesday, July 26th. Finally, Loop Capital assumed coverage on Avery Dennison Corporation in a research report on Thursday, September 28th. They set a “hold” rating and a $99.00 target price on the stock. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $93.14.
Avery Dennison Corporation Company Profile
Avery Dennison Corporation (Avery Dennison) is engaged in the production of pressure-sensitive materials and a range of tickets, tags, labels and other converted products. The Company’s segments include Label and Graphic Materials (LGM); Retail Branding and Information Solutions (RBIS), and Industrial and Healthcare Materials (IHM).
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