BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its holdings in shares of Avery Dennison Corporation (NYSE:AVY) by 15.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 49,950 shares of the industrial products company’s stock after selling 9,000 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned 0.06% of Avery Dennison worth $4,912,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of AVY. Principal Financial Group Inc. increased its stake in shares of Avery Dennison by 110.5% in the second quarter. Principal Financial Group Inc. now owns 1,759,374 shares of the industrial products company’s stock worth $155,476,000 after buying an additional 923,548 shares during the period. State of Tennessee Treasury Department increased its stake in shares of Avery Dennison by 265.7% in the third quarter. State of Tennessee Treasury Department now owns 490,850 shares of the industrial products company’s stock worth $48,270,000 after buying an additional 356,628 shares during the period. Victory Capital Management Inc. increased its stake in shares of Avery Dennison by 21.3% in the second quarter. Victory Capital Management Inc. now owns 1,937,495 shares of the industrial products company’s stock worth $171,216,000 after buying an additional 340,139 shares during the period. Marshall Wace North America L.P. increased its stake in shares of Avery Dennison by 67.9% in the second quarter. Marshall Wace North America L.P. now owns 648,482 shares of the industrial products company’s stock worth $57,067,000 after buying an additional 262,211 shares during the period. Finally, State Street Corp boosted its holdings in Avery Dennison by 5.0% in the second quarter. State Street Corp now owns 4,776,961 shares of the industrial products company’s stock valued at $422,140,000 after acquiring an additional 229,297 shares in the last quarter. 85.42% of the stock is currently owned by hedge funds and other institutional investors.

In other Avery Dennison news, 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 completion of the transaction, the director now owns 26,703 shares of the company’s stock, valued at approximately $3,064,436.28. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Dean A. Scarborough sold 10,000 shares of the business’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $104.54, for a total value of $1,045,400.00. Following the completion of the transaction, the chairman now directly owns 94,042 shares of the company’s stock, valued at approximately $9,831,150.68. 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.

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

Shares of Avery Dennison Corporation (NYSE:AVY) opened at $114.37 on Thursday. Avery Dennison Corporation has a fifty-two week low of $69.53 and a fifty-two week high of $115.56. The company has a market cap of $10,076.64, a price-to-earnings ratio of 24.51, a PEG ratio of 3.32 and a beta of 1.24. The company has a current ratio of 1.13, a quick ratio of 0.82 and a debt-to-equity ratio of 1.14.

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

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Wednesday, December 6th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Tuesday, December 5th. Avery Dennison’s dividend payout ratio is presently 40.18%.

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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).

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

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