Avery Dennison Co. (NYSE:AVY) Shares Acquired by Point72 DIFC Ltd

Point72 DIFC Ltd boosted its holdings in Avery Dennison Co. (NYSE:AVY) by 148.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,030 shares of the industrial products company’s stock after buying an additional 7,184 shares during the period. Point72 DIFC Ltd’s holdings in Avery Dennison were worth $2,656,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Victory Capital Management Inc. boosted its position in Avery Dennison by 6.8% during the 3rd quarter. Victory Capital Management Inc. now owns 1,416,798 shares of the industrial products company’s stock valued at $312,772,000 after purchasing an additional 90,250 shares during the period. Meridiem Investment Management Ltd. grew its holdings in shares of Avery Dennison by 0.7% during the third quarter. Meridiem Investment Management Ltd. now owns 794,092 shares of the industrial products company’s stock valued at $175,261,000 after buying an additional 5,756 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Avery Dennison by 4.3% in the second quarter. Dimensional Fund Advisors LP now owns 787,716 shares of the industrial products company’s stock valued at $172,254,000 after purchasing an additional 32,467 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Avery Dennison by 0.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 699,541 shares of the industrial products company’s stock valued at $154,431,000 after acquiring an additional 3,118 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Avery Dennison by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 688,417 shares of the industrial products company’s stock valued at $151,975,000 after purchasing an additional 1,782 shares during the period. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. BMO Capital Markets cut their target price on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Citigroup reduced their target price on Avery Dennison from $241.00 to $240.00 and set a “neutral” rating on the stock in a report on Wednesday, October 2nd. Bank of America raised Avery Dennison from an “underperform” rating to a “buy” rating and lifted their target price for the company from $207.00 to $250.00 in a research report on Thursday, October 17th. JPMorgan Chase & Co. downgraded Avery Dennison from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $230.00 to $210.00 in a research report on Thursday, October 24th. Finally, Barclays cut their price target on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Avery Dennison has an average rating of “Moderate Buy” and an average price target of $244.96.

Avery Dennison Stock Performance

Avery Dennison stock opened at $204.35 on Thursday. The company has a quick ratio of 0.62, a current ratio of 0.92 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $16.42 billion, a PE ratio of 24.53, a P/E/G ratio of 1.58 and a beta of 0.87. The firm has a fifty day simple moving average of $209.05 and a two-hundred day simple moving average of $215.62. Avery Dennison Co. has a twelve month low of $190.04 and a twelve month high of $233.48.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.01. The company had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.20 billion. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. Avery Dennison’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.10 earnings per share. Research analysts expect that Avery Dennison Co. will post 9.42 EPS for the current year.

Avery Dennison Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be given a $0.88 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $3.52 annualized dividend and a yield of 1.72%. Avery Dennison’s dividend payout ratio (DPR) is 42.26%.

Insider Buying and Selling at Avery Dennison

In related news, SVP Nicholas Colisto sold 3,679 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $206.00, for a total transaction of $757,874.00. Following the completion of the transaction, the senior vice president now owns 7,126 shares in the company, valued at $1,467,956. The trade was a 34.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.10% of the stock is owned by corporate insiders.

Avery Dennison Company Profile

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.