Avery Dennison Co. (NYSE:AVY) Stock Position Raised by Cibc World Markets Corp

Cibc World Markets Corp grew its position in shares of Avery Dennison Co. (NYSE:AVY) by 299.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 43,529 shares of the industrial products company’s stock after acquiring an additional 32,639 shares during the period. Cibc World Markets Corp’s holdings in Avery Dennison were worth $8,146,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Gitterman Wealth Management LLC acquired a new position in shares of Avery Dennison during the 4th quarter worth $215,000. Centurion Wealth Management LLC boosted its holdings in Avery Dennison by 8.3% in the fourth quarter. Centurion Wealth Management LLC now owns 1,561 shares of the industrial products company’s stock worth $292,000 after purchasing an additional 120 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its position in Avery Dennison by 0.9% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 12,558 shares of the industrial products company’s stock worth $2,350,000 after buying an additional 106 shares during the last quarter. Ascent Capital Management LLC bought a new position in Avery Dennison during the fourth quarter valued at about $286,000. Finally, Natixis Advisors LLC lifted its position in shares of Avery Dennison by 10.8% in the fourth quarter. Natixis Advisors LLC now owns 269,341 shares of the industrial products company’s stock worth $50,402,000 after buying an additional 26,297 shares during the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.

Insider Activity at Avery Dennison

In other news, Chairman Mitchell R. Butier sold 12,969 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $181.85, for a total value of $2,358,412.65. Following the sale, the chairman now directly owns 303,331 shares in the company, valued at approximately $55,160,742.35. This represents a 4.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Robert W. Baird set a $220.00 price objective on Avery Dennison in a research note on Friday, January 31st. Citigroup lowered their price target on Avery Dennison from $228.00 to $202.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Bank of America reduced their price objective on shares of Avery Dennison from $238.00 to $220.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Barclays lowered their target price on shares of Avery Dennison from $245.00 to $225.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. raised shares of Avery Dennison from a “neutral” rating to an “overweight” rating and cut their target price for the stock from $210.00 to $205.00 in a research report on Friday, January 31st. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Avery Dennison currently has a consensus rating of “Moderate Buy” and a consensus target price of $222.51.

Avery Dennison Stock Up 0.1 %

AVY stock opened at $179.85 on Wednesday. Avery Dennison Co. has a twelve month low of $174.91 and a twelve month high of $233.48. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10. The company has a market cap of $14.20 billion, a PE ratio of 20.62, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85. The business’s 50-day simple moving average is $185.19 and its 200 day simple moving average is $198.81.

Avery Dennison (NYSE:AVY) last released its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.01). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. On average, research analysts anticipate that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.88 per share. The ex-dividend date is Wednesday, March 5th. This represents a $3.52 annualized dividend and a dividend yield of 1.96%. Avery Dennison’s dividend payout ratio (DPR) is currently 40.37%.

About Avery Dennison

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.