Tidal Investments LLC Grows Position in Avery Dennison Co. (NYSE:AVY)

Tidal Investments LLC boosted its stake in shares of Avery Dennison Co. (NYSE:AVY) by 13.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,957 shares of the industrial products company’s stock after purchasing an additional 716 shares during the period. Tidal Investments LLC’s holdings in Avery Dennison were worth $1,315,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in AVY. Wilmington Savings Fund Society FSB raised its position in shares of Avery Dennison by 384.6% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 6,203 shares of the industrial products company’s stock worth $1,369,000 after buying an additional 4,923 shares during the period. World Investment Advisors LLC increased its stake in Avery Dennison by 17.4% during the third quarter. World Investment Advisors LLC now owns 3,953 shares of the industrial products company’s stock worth $873,000 after acquiring an additional 587 shares during the last quarter. Anchor Investment Management LLC increased its stake in Avery Dennison by 256.3% during the third quarter. Anchor Investment Management LLC now owns 766 shares of the industrial products company’s stock worth $169,000 after acquiring an additional 551 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Avery Dennison in the 3rd quarter worth about $381,000. Finally, Unigestion Holding SA purchased a new stake in shares of Avery Dennison during the 3rd quarter worth about $6,701,000. Institutional investors and hedge funds own 94.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Bank of America raised 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. JPMorgan Chase & Co. lowered shares of Avery Dennison from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $230.00 to $210.00 in a report on Thursday, October 24th. Barclays lowered their price target on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating for the company in a report on Monday, October 28th. Citigroup decreased their target price on Avery Dennison from $241.00 to $240.00 and set a “neutral” rating for the company in a research report on Wednesday, October 2nd. Finally, BMO Capital Markets dropped their target price on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Avery Dennison presently has an average rating of “Moderate Buy” and a consensus price target of $244.96.

Avery Dennison Trading Down 2.4 %

Shares of AVY opened at $186.85 on Thursday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.92. Avery Dennison Co. has a one year low of $186.75 and a one year high of $233.48. The stock has a 50-day moving average price of $205.05 and a 200 day moving average price of $213.59. The company has a market capitalization of $15.01 billion, a P/E ratio of 22.43, a P/E/G ratio of 1.52 and a beta of 0.87.

Avery Dennison (NYSE:AVY) last released its quarterly earnings results 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 business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.20 billion. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.10 earnings per share. Sell-side analysts forecast that Avery Dennison Co. will post 9.42 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th were paid a $0.88 dividend. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.88%. Avery Dennison’s dividend payout ratio (DPR) is presently 42.26%.

Insider Transactions at Avery Dennison

In related news, SVP Nicholas Colisto sold 3,679 shares of the company’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 directly owns 7,126 shares of the company’s stock, valued at approximately $1,467,956. This represents a 34.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

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.