Schroder Investment Management Group Sells 117,744 Shares of Avery Dennison Corp (AVY)

Schroder Investment Management Group lessened its holdings in shares of Avery Dennison Corp (NYSE:AVY) by 82.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 25,833 shares of the industrial products company’s stock after selling 117,744 shares during the quarter. Schroder Investment Management Group’s holdings in Avery Dennison were worth $2,799,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of AVY. Zions Bancorporation bought a new stake in Avery Dennison during the 3rd quarter valued at approximately $108,000. Fort L.P. bought a new stake in Avery Dennison during the 2nd quarter valued at approximately $120,000. Ronna Sue Cohen bought a new stake in Avery Dennison during the 3rd quarter valued at approximately $206,000. Radnor Capital Management LLC bought a new stake in Avery Dennison during the 3rd quarter valued at approximately $209,000. Finally, Intrust Bank NA bought a new stake in Avery Dennison during the 2nd quarter valued at approximately $226,000. 83.98% of the stock is currently owned by institutional investors.

Several analysts recently issued reports on AVY shares. UBS Group set a $135.00 target price on Avery Dennison and gave the company a “buy” rating in a research note on Tuesday, November 20th. ValuEngine downgraded Avery Dennison from a “hold” rating to a “sell” rating in a research note on Friday, October 26th. Loop Capital raised Avery Dennison from a “hold” rating to a “buy” rating and set a $124.00 target price on the stock in a research note on Thursday, September 13th. JPMorgan Chase & Co. raised Avery Dennison from a “neutral” rating to an “overweight” rating and decreased their target price for the company from $110.00 to $105.00 in a research note on Wednesday, October 24th. Finally, Zacks Investment Research cut Avery Dennison from a “buy” rating to a “hold” rating in a report on Tuesday, September 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. Avery Dennison currently has an average rating of “Buy” and a consensus target price of $120.25.

NYSE AVY opened at $91.97 on Friday. The company has a market cap of $8.14 billion, a price-to-earnings ratio of 18.39, a PEG ratio of 2.22 and a beta of 1.38. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.00 and a quick ratio of 0.71. Avery Dennison Corp has a 1-year low of $86.06 and a 1-year high of $123.67.

Avery Dennison (NYSE:AVY) last released its quarterly earnings results on Tuesday, October 23rd. The industrial products company reported $1.45 earnings per share for the quarter, missing the consensus estimate of $1.47 by ($0.02). The firm had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.75 billion. Avery Dennison had a net margin of 4.36% and a return on equity of 49.86%. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.26 EPS. As a group, research analysts forecast that Avery Dennison Corp will post 6.04 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 19th. Shareholders of record on Wednesday, December 5th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.26%. The ex-dividend date is Tuesday, December 4th. Avery Dennison’s dividend payout ratio is presently 41.60%.

In other Avery Dennison news, Director David E. I. Pyott sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 27th. The stock was sold at an average price of $93.00, for a total transaction of $186,000.00. Following the completion of the transaction, the director now owns 17,293 shares in the company, valued at approximately $1,608,249. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.30% of the company’s stock.

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About Avery Dennison

Avery Dennison Corporation produces and sells pressure-sensitive materials worldwide. The company's Label and Graphic Materials segment offers pressure-sensitive label and packaging materials; and graphics and reflective products under the Fasson, JAC, Avery Dennison, and Mactac brands. It also offers durable cast and reflective films.

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Institutional Ownership by Quarter for Avery Dennison (NYSE:AVY)

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