Avery Dennison Co. (NYSE:AVY) Shares Sold by Worldquant Millennium Advisors LLC

Worldquant Millennium Advisors LLC decreased its position in shares of Avery Dennison Co. (NYSE:AVY) by 12.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,114 shares of the industrial products company’s stock after selling 152 shares during the quarter. Worldquant Millennium Advisors LLC’s holdings in Avery Dennison were worth $246,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of AVY. Innealta Capital LLC purchased a new stake in shares of Avery Dennison in the 2nd quarter valued at approximately $28,000. Larson Financial Group LLC lifted its holdings in Avery Dennison by 100.0% in the third 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 purchased a new position in Avery Dennison in the third quarter worth approximately $36,000. Peterson Financial Group Inc. acquired a new stake in Avery Dennison during the third quarter worth $39,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Avery Dennison in the second quarter valued at $42,000. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Analyst Ratings Changes

AVY has been the subject of a number of recent analyst reports. Barclays cut their price objective on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating for the company in a research report on Monday, October 28th. Bank of America upgraded shares of Avery Dennison from an “underperform” rating to a “buy” rating and lifted their price target for the company from $207.00 to $250.00 in a research report on Thursday, October 17th. Citigroup decreased their price objective on shares of Avery Dennison from $241.00 to $240.00 and set a “neutral” rating on the stock in a report on Wednesday, October 2nd. JPMorgan Chase & Co. downgraded shares of Avery Dennison from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $230.00 to $210.00 in a report on Thursday, October 24th. Finally, StockNews.com cut Avery Dennison from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Avery Dennison presently has a consensus rating of “Moderate Buy” and a consensus price target of $244.96.

Insider Buying and Selling at Avery Dennison

In other news, SVP Nicholas Colisto sold 3,679 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $206.00, for a total value 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. This trade represents a 34.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Avery Dennison Stock Performance

NYSE AVY opened at $202.50 on Monday. The company has a current ratio of 0.92, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85. The business’s 50 day moving average is $208.28 and its two-hundred day moving average is $215.18. The stock has a market capitalization of $16.27 billion, a price-to-earnings ratio of 24.31, a PEG ratio of 1.57 and a beta of 0.87. Avery Dennison Co. has a 12-month low of $190.04 and a 12-month high of $233.48.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.32 by $0.01. The firm had revenue of $2.18 billion for 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%. Avery Dennison’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.10 earnings per share. Research analysts expect that Avery Dennison Co. will post 9.42 EPS for the current year.

Avery Dennison Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be given a dividend of $0.88 per share. The ex-dividend date is Wednesday, December 4th. This represents a $3.52 annualized dividend and a yield of 1.74%. Avery Dennison’s 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.