Point72 Asset Management L.P. trimmed its stake in shares of Avery Dennison Corporation (NYSE:AVY) by 91.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,800 shares of the industrial products company’s stock after selling 288,600 shares during the quarter. Point72 Asset Management L.P.’s holdings in Avery Dennison were worth $2,636,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in AVY. Acrospire Investment Management LLC acquired a new stake in shares of Avery Dennison during the second quarter worth $129,000. Captrust Financial Advisors acquired a new stake in shares of Avery Dennison during the second quarter worth $130,000. Pacad Investment Ltd. acquired a new stake in shares of Avery Dennison during the second quarter worth $141,000. Conning Inc. acquired a new stake in shares of Avery Dennison during the third quarter worth $200,000. Finally, Davidson & Garrard Inc. acquired a new stake in shares of Avery Dennison during the third quarter worth $202,000. 84.82% of the stock is owned by hedge funds and other institutional investors.

Avery Dennison Corporation (NYSE AVY) opened at $116.68 on Thursday. The company has a market capitalization of $10,309.06, a PE ratio of 25.08, a P/E/G ratio of 3.39 and a beta of 1.24. Avery Dennison Corporation has a 52 week low of $69.53 and a 52 week high of $117.92. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.13 and a quick ratio of 0.82.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $1.26 EPS for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.05. The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.65 billion. Avery Dennison had a return on equity of 40.52% and a net margin of 6.27%. Avery Dennison’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.01 earnings per share. equities analysts expect that Avery Dennison Corporation will post 4.93 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 20th. Investors of record on Wednesday, December 6th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date was Tuesday, December 5th. Avery Dennison’s dividend payout ratio (DPR) is presently 40.18%.

A number of equities research analysts have recently weighed in on the company. Zacks Investment Research raised Avery Dennison from a “hold” rating to a “buy” rating and set a $120.00 target price for the company in a report on Tuesday, November 7th. Barclays lifted their target price on Avery Dennison from $105.00 to $120.00 and gave the stock an “overweight” rating in a report on Monday, October 30th. KeyCorp reissued a “hold” rating on shares of Avery Dennison in a report on Monday, October 30th. Robert W. Baird reissued a “buy” rating and set a $115.00 target price on shares of Avery Dennison in a report on Friday, October 27th. Finally, Loop Capital lifted their target price on Avery Dennison from $99.00 to $106.00 and gave the stock a “hold” rating in a report on Thursday, October 26th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Avery Dennison presently has a consensus rating of “Buy” and an average price target of $110.83.

In other Avery Dennison news, CAO Lori J. Bondar sold 10,855 shares of the business’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $110.88, for a total transaction of $1,203,602.40. Following the completion of the transaction, the chief accounting officer now owns 18,556 shares of the company’s stock, valued at $2,057,489.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Peter K. Barker sold 2,000 shares of the business’s stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $114.76, for a total value of $229,520.00. Following the transaction, the director now directly owns 26,703 shares of the company’s stock, valued at approximately $3,064,436.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 154,604 shares of company stock valued at $16,475,271. 1.40% of the stock is owned by insiders.

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Avery Dennison 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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Institutional Ownership by Quarter for Avery Dennison (NYSE:AVY)

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