Avery Dennison Corporation $AVY Stock Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lessened its stake in Avery Dennison Corporation (NYSE:AVY) by 65.6% in the 3rd quarter, Holdings Channel reports. The firm owned 16,593 shares of the industrial products company’s stock after selling 31,681 shares during the period. Pictet Asset Management Holding SA’s holdings in Avery Dennison were worth $2,832,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AVY. BlackRock Inc. acquired a new position in Avery Dennison during the second quarter worth $1,052,464,000. Ninety One UK Ltd purchased a new position in shares of Avery Dennison during the third quarter worth $341,344,000. Robeco Institutional Asset Management B.V. boosted its position in shares of Avery Dennison by 2,376.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 984,976 shares of the industrial products company’s stock worth $168,106,000 after buying an additional 945,195 shares during the period. Bank of America Corp DE acquired a new stake in shares of Avery Dennison in the second quarter valued at $142,169,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Avery Dennison in the second quarter valued at $118,728,000. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Insider Activity

In related news, Director Andres Alberto Lopez sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $193.80, for a total value of $775,200.00. Following the sale, the director owned 1,147 shares of the company’s stock, valued at $222,288.60. This trade represents a 77.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Nicholas Colisto sold 3,886 shares of Avery Dennison stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $170.68, for a total transaction of $663,262.48. Following the completion of the transaction, the senior vice president owned 7,126 shares of the company’s stock, valued at $1,216,265.68. This represents a 35.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.81% of the company’s stock.

Avery Dennison Stock Up 0.6%

Shares of NYSE:AVY traded up $1.06 during trading on Friday, hitting $188.03. The company’s stock had a trading volume of 734,599 shares, compared to its average volume of 650,358. Avery Dennison Corporation has a fifty-two week low of $152.42 and a fifty-two week high of $199.54. The business has a 50 day moving average price of $176.24 and a two-hundred day moving average price of $172.35. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.80 and a current ratio of 1.16. The company has a market capitalization of $14.20 billion, a PE ratio of 20.35, a P/E/G ratio of 2.20 and a beta of 0.77.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings data on Thursday, October 29th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.10. Avery Dennison had a return on equity of 33.88% and a net margin of 7.56%. The business had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.26 billion. During the same period last year, the firm earned $2.37 earnings per share. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, research analysts expect that Avery Dennison Corporation will post 10.17 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 16th. Stockholders of record on Wednesday, December 2nd will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Wednesday, December 2nd. Avery Dennison’s dividend payout ratio (DPR) is presently 43.29%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Jefferies Financial Group reiterated a “hold” rating and issued a $181.00 price objective on shares of Avery Dennison in a report on Monday, September 28th. Citigroup raised their target price on Avery Dennison from $186.00 to $191.00 and gave the company a “neutral” rating in a report on Monday, November 2nd. JPMorgan Chase & Co. lifted their target price on Avery Dennison from $190.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, October 30th. Weiss Ratings upgraded shares of Avery Dennison from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, November 4th. Finally, UBS Group increased their price target on shares of Avery Dennison from $225.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, October 30th. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Avery Dennison presently has a consensus rating of “Moderate Buy” and a consensus target price of $201.10.

Avery Dennison Profile

Avery Dennison is a global materials science and digital identification solutions company. Its products include pressure-sensitive labels and adhesives, packaging materials, and graphic films used in applications such as product labeling, vehicle graphics, and building signage. The company also develops technologies that help businesses identify and track products, including RFID inlays and tags, which can support inventory management and supply-chain visibility. Its solutions serve customers across industries such as apparel, food and beverage, logistics, healthcare, and retail.