Capital Fund Management S.A. lowered its stake in Avery Dennison Corp. (NYSE:AVY) by 11.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,061 shares of the company’s stock after selling 1,580 shares during the period. Capital Fund Management S.A.’s holdings in Avery Dennison Corp. were worth $902,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of AVY. Bank of Montreal Can bought a new stake in Avery Dennison Corp. during the second quarter valued at approximately $158,866,000. HBK Investments L P raised its stake in Avery Dennison Corp. by 27.8% in the first quarter. HBK Investments L P now owns 10,100 shares of the company’s stock valued at $728,000 after buying an additional 2,200 shares during the period. Renaissance Technologies LLC raised its stake in Avery Dennison Corp. by 36.5% in the first quarter. Renaissance Technologies LLC now owns 771,900 shares of the company’s stock valued at $55,662,000 after buying an additional 206,400 shares during the period. BlackRock Japan Co. Ltd raised its stake in Avery Dennison Corp. by 10.3% in the first quarter. BlackRock Japan Co. Ltd now owns 106,922 shares of the company’s stock valued at $7,710,000 after buying an additional 10,017 shares during the period. Finally, Springbok Capital Management LLC bought a new stake in Avery Dennison Corp. during the first quarter valued at approximately $136,000. 89.50% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Avery Dennison Corp. (NYSE:AVY) traded down 1.04% during trading on Friday, reaching $76.40. The company had a trading volume of 531,154 shares. Avery Dennison Corp. has a 12 month low of $57.06 and a 12 month high of $79.27. The firm’s 50 day moving average price is $77.28 and its 200 day moving average price is $75.20. The firm has a market capitalization of $6.79 billion, a P/E ratio of 22.77 and a beta of 0.92.
Avery Dennison Corp. (NYSE:AVY) last issued its earnings results on Tuesday, July 26th. The company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.08. The business earned $1.54 billion during the quarter, compared to the consensus estimate of $1.54 billion. Avery Dennison Corp. had a return on equity of 34.82% and a net margin of 5.18%. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.91 EPS. Equities analysts predict that Avery Dennison Corp. will post $3.94 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 21st. Investors of record on Wednesday, September 7th were issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date was Friday, September 2nd. Avery Dennison Corp.’s dividend payout ratio is currently 48.81%.
Several brokerages have commented on AVY. Zacks Investment Research raised Avery Dennison Corp. from a “hold” rating to a “buy” rating and set a $87.00 price objective on the stock in a report on Wednesday, September 21st. Bank of America Corp. lowered Avery Dennison Corp. from a “buy” rating to an “underperform” rating and set a $75.00 price objective on the stock. in a report on Friday, July 1st. Finally, JPMorgan Chase & Co. raised their price objective on Avery Dennison Corp. from $78.00 to $80.00 and gave the company a “neutral” rating in a report on Wednesday, July 27th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $78.00.
In other Avery Dennison Corp. news, VP Susan C. Miller sold 2,000 shares of the stock in a transaction on Monday, August 1st. The stock was sold at an average price of $77.94, for a total transaction of $155,880.00. Following the sale, the vice president now owns 8,518 shares in the company, valued at approximately $663,892.92. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Dean A. Scarborough sold 130,000 shares of the stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $77.05, for a total value of $10,016,500.00. Following the sale, the insider now owns 261,066 shares in the company, valued at approximately $20,115,135.30. The disclosure for this sale can be found here. 2.70% of the stock is owned by corporate insiders.
About Avery Dennison Corp.
Avery Dennison Corporation (Avery Dennison) is engaged in the production of pressure-sensitive materials and a range of tickets, tags, labels and other converted products. The Company’s pressure-sensitive materials are sold to label printers and converters that convert the materials into labels and other products through embossing, printing, stamping and die-cutting.
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