AIA Group Ltd grew its holdings in shares of Avery Dennison Co. (NYSE:AVY – Get Rating) by 39.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,272 shares of the industrial products company’s stock after purchasing an additional 362 shares during the quarter. AIA Group Ltd’s holdings in Avery Dennison were worth $221,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Capital Analysts LLC bought a new position in shares of Avery Dennison during the 4th quarter valued at $30,000. Edmond DE Rothschild Holding S.A. bought a new position in shares of Avery Dennison during the 4th quarter valued at $31,000. Dixon Hughes Goodman Wealth Advisors LLC bought a new position in Avery Dennison in the 4th quarter worth $39,000. Exane Derivatives bought a new stake in Avery Dennison during the first quarter valued at about $50,000. Finally, Mascoma Wealth Management LLC grew its position in shares of Avery Dennison by 60.2% in the first quarter. Mascoma Wealth Management LLC now owns 346 shares of the industrial products company’s stock valued at $60,000 after purchasing an additional 130 shares during the last quarter. Institutional investors own 88.83% of the company’s stock.
Wall Street Analyst Weigh In
AVY has been the subject of several research analyst reports. Raymond James boosted their price objective on Avery Dennison from $185.00 to $200.00 in a research report on Thursday, April 28th. Loop Capital reduced their price objective on Avery Dennison from $209.00 to $202.00 and set a “buy” rating for the company in a research report on Wednesday, April 13th. Credit Suisse Group lowered their price objective on shares of Avery Dennison from $195.00 to $188.00 in a research note on Wednesday, April 20th. JPMorgan Chase & Co. raised shares of Avery Dennison from a “neutral” rating to an “overweight” rating and reduced their price target for the company from $215.00 to $195.00 in a report on Wednesday, April 27th. Finally, Citigroup decreased their price target on shares of Avery Dennison from $255.00 to $247.00 in a research report on Friday, April 8th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Avery Dennison currently has an average rating of “Moderate Buy” and a consensus target price of $205.57.
Avery Dennison Stock Down 0.1 %
Avery Dennison (NYSE:AVY – Get Rating) last issued its earnings results on Wednesday, July 27th. The industrial products company reported $2.64 earnings per share for the quarter, beating the consensus estimate of $2.37 by $0.27. Avery Dennison had a net margin of 8.48% and a return on equity of 40.75%. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same period in the previous year, the business earned $2.25 EPS. The firm’s revenue was up 11.7% on a year-over-year basis. On average, analysts anticipate that Avery Dennison Co. will post 9.93 EPS for the current year.
Avery Dennison Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 21st. Stockholders of record on Wednesday, September 7th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Tuesday, September 6th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.55%. Avery Dennison’s payout ratio is presently 32.79%.
About Avery Dennison
Avery Dennison Corporation manufactures and markets pressure-sensitive materials and products in the United States, Europe, Asia, Latin America, and internationally. The company's Label and Graphic Materials segment offers pressure-sensitive label and packaging materials; and graphics and reflective products under the Fasson, JAC, Avery Dennison, and Mactac brands, as well as durable cast and reflective films.
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