Avery Dennison Co. (NYSE:AVY) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank lessened its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 31.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,068 shares of the industrial products company’s stock after selling 12,292 shares during the quarter. Toronto Dominion Bank’s holdings in Avery Dennison were worth $5,976,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Innealta Capital LLC acquired a new stake in shares of Avery Dennison during the second quarter worth approximately $28,000. Larson Financial Group LLC boosted its stake in Avery Dennison by 100.0% during the 3rd quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 71 shares during the last quarter. Kennebec Savings Bank acquired a new position in Avery Dennison during the 3rd quarter worth $36,000. Peterson Financial Group Inc. bought a new stake in shares of Avery Dennison in the 3rd quarter worth about $39,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Avery Dennison in the 2nd quarter valued at about $42,000. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

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 stock was sold at an average price of $206.00, for a total transaction of $757,874.00. Following the sale, the senior vice president now owns 7,126 shares of the company’s stock, valued at $1,467,956. The trade was a 34.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AVY. JPMorgan Chase & Co. cut Avery Dennison from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $230.00 to $210.00 in a research note on Thursday, October 24th. BMO Capital Markets reduced their price objective on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Citigroup lowered their target price on shares of Avery Dennison from $241.00 to $240.00 and set a “neutral” rating for the company in a research note on Wednesday, October 2nd. Barclays reduced their price target on shares of Avery Dennison from $250.00 to $245.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. Finally, StockNews.com downgraded shares of Avery Dennison from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $244.96.

Avery Dennison Price Performance

NYSE AVY opened at $195.14 on Friday. The company has a 50-day moving average price of $206.51 and a two-hundred day moving average price of $214.37. The stock has a market cap of $15.68 billion, a price-to-earnings ratio of 23.43, a price-to-earnings-growth ratio of 1.52 and a beta of 0.87. The company has a current ratio of 0.92, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85. Avery Dennison Co. has a 52 week low of $193.49 and a 52 week high of $233.48.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.32 by $0.01. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.20 billion. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.10 EPS. Analysts forecast that Avery Dennison Co. will post 9.42 EPS for the current year.

Avery Dennison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date is Wednesday, December 4th. Avery Dennison’s dividend payout ratio is currently 42.26%.

Avery Dennison 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.