Summit Trail Advisors LLC Has $544,000 Stock Position in Avery Dennison Co. (NYSE:AVY)

Summit Trail Advisors LLC reduced its position in shares of Avery Dennison Co. (NYSE:AVY) by 29.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,464 shares of the industrial products company’s stock after selling 1,011 shares during the quarter. Summit Trail Advisors LLC’s holdings in Avery Dennison were worth $544,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in AVY. Innealta Capital LLC acquired a new position in Avery Dennison during the 2nd quarter worth approximately $28,000. Larson Financial Group LLC increased its holdings 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 worth $31,000 after purchasing an additional 71 shares in the last quarter. Kennebec Savings Bank bought a new stake in Avery Dennison during the 3rd quarter worth approximately $36,000. Peterson Financial Group Inc. bought a new stake in Avery Dennison during the 3rd quarter worth approximately $39,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Avery Dennison during the 2nd quarter worth approximately $42,000. 94.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Avery Dennison Price Performance

Avery Dennison stock opened at $204.71 on Wednesday. Avery Dennison Co. has a 12 month low of $187.93 and a 12 month high of $233.48. 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 simple moving average is $210.21 and its 200 day simple moving average is $216.41. The company has a market cap of $16.45 billion, a price-to-earnings ratio of 24.58, a PEG ratio of 1.56 and a beta of 0.89.

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

Avery Dennison Announces Dividend

The company 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 $0.88 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $3.52 annualized dividend and a yield of 1.72%. Avery Dennison’s payout ratio is 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.