Charles Schwab Investment Management Inc. Buys 11,156 Shares of Avery Dennison Corporation (NYSE:AVY)

Charles Schwab Investment Management Inc. raised its stake in shares of Avery Dennison Corporation (NYSE:AVY) by 1.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 710,247 shares of the industrial products company’s stock after purchasing an additional 11,156 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Avery Dennison were worth $126,403,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of AVY. Bank of Nova Scotia grew its holdings in Avery Dennison by 4.1% during the 4th quarter. Bank of Nova Scotia now owns 10,735 shares of the industrial products company’s stock worth $2,009,000 after acquiring an additional 426 shares during the period. Renaissance Technologies LLC acquired a new stake in Avery Dennison during the 4th quarter worth about $11,396,000. Advisory Services Network LLC grew its holdings in Avery Dennison by 12.3% during the 4th quarter. Advisory Services Network LLC now owns 2,731 shares of the industrial products company’s stock worth $511,000 after acquiring an additional 300 shares during the period. Raymond James Financial Inc. acquired a new stake in Avery Dennison during the 4th quarter worth about $51,521,000. Finally, Treasurer of the State of North Carolina grew its holdings in Avery Dennison by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 35,230 shares of the industrial products company’s stock worth $6,593,000 after acquiring an additional 220 shares during the period. 94.17% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the company. BMO Capital Markets reiterated an “outperform” rating and set a $207.00 price target (down from $216.00) on shares of Avery Dennison in a report on Wednesday, July 23rd. Citigroup increased their price target on Avery Dennison from $177.00 to $185.00 and gave the stock a “neutral” rating in a report on Friday, July 11th. Argus downgraded Avery Dennison from a “strong-buy” rating to a “hold” rating in a report on Monday, May 12th. Jefferies Financial Group assumed coverage on Avery Dennison in a research note on Tuesday, April 22nd. They issued a “hold” rating and a $175.00 target price for the company. Finally, Raymond James Financial raised their target price on Avery Dennison from $194.00 to $200.00 and gave the company an “outperform” rating in a research note on Tuesday, July 15th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Avery Dennison presently has an average rating of “Moderate Buy” and an average target price of $197.60.

Avery Dennison Stock Performance

Shares of AVY opened at $171.86 on Tuesday. The company has a market cap of $13.40 billion, a PE ratio of 19.29, a P/E/G ratio of 2.63 and a beta of 0.88. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.04 and a quick ratio of 0.70. Avery Dennison Corporation has a one year low of $157.00 and a one year high of $224.38. The stock has a 50-day moving average of $176.85 and a 200-day moving average of $177.63.

Avery Dennison (NYSE:AVY) last released its quarterly earnings results on Tuesday, July 22nd. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.04. The business had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.23 billion. Avery Dennison had a return on equity of 33.14% and a net margin of 8.14%. The company’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.42 EPS. On average, equities research analysts predict that Avery Dennison Corporation will post 9.96 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd will be paid a dividend of $0.94 per share. The ex-dividend date is Wednesday, September 3rd. This represents a $3.76 dividend on an annualized basis and a yield of 2.2%. Avery Dennison’s payout ratio is 42.20%.

About Avery Dennison

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.