Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Avery Dennison Co. (NYSE:AVY) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 51,000 shares of the industrial products company’s stock, valued at approximately $7,911,000.
Several other hedge funds have also recently made changes to their positions in AVY. Vantage Consulting Group Inc purchased a new stake in shares of Avery Dennison in the fourth quarter valued at about $31,000. Knuff & Co LLC grew its stake in shares of Avery Dennison by 35.7% in the 4th quarter. Knuff & Co LLC now owns 251 shares of the industrial products company’s stock valued at $39,000 after buying an additional 66 shares during the period. RMR Wealth Builders acquired a new stake in shares of Avery Dennison during the 4th quarter worth approximately $69,000. Hoover Financial Advisors Inc. purchased a new stake in shares of Avery Dennison during the 4th quarter valued at approximately $81,000. Finally, Rational Advisors LLC lifted its holdings in Avery Dennison by 6,944.4% in the fourth quarter. Rational Advisors LLC now owns 634 shares of the industrial products company’s stock valued at $98,000 after acquiring an additional 625 shares during the last quarter. 89.04% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently commented on the company. UBS Group upped their price target on Avery Dennison from $150.00 to $178.00 and gave the company a “buy” rating in a research note on Wednesday, December 9th. Argus raised shares of Avery Dennison from a “hold” rating to a “buy” rating and set a $195.00 target price for the company in a research note on Wednesday, February 10th. Robert W. Baird boosted their price target on shares of Avery Dennison from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, March 11th. Atlantic Securities reaffirmed a “neutral” rating on shares of Avery Dennison in a research report on Tuesday, March 23rd. Finally, S&P Equity Research raised Avery Dennison from a “neutral” rating to a “buy” rating and boosted their target price for the company from $149.00 to $181.00 in a research report on Thursday, January 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $178.82.
Avery Dennison (NYSE:AVY) last issued its earnings results on Tuesday, February 2nd. The industrial products company reported $2.27 EPS for the quarter, topping analysts’ consensus estimates of $2.09 by $0.18. Avery Dennison had a net margin of 7.80% and a return on equity of 44.88%. The firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter in the previous year, the firm posted $1.73 earnings per share. The company’s revenue was up 12.2% compared to the same quarter last year. On average, analysts expect that Avery Dennison Co. will post 6.94 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 17th. Investors of record on Wednesday, March 3rd were given a $0.62 dividend. The ex-dividend date of this dividend was Tuesday, March 2nd. This represents a $2.48 dividend on an annualized basis and a yield of 1.30%. Avery Dennison’s dividend payout ratio (DPR) is 37.58%.
About Avery Dennison
Avery Dennison Corporation manufactures and markets pressure-sensitive materials in the United States, Europe, Asia, Latin America, and internationally. 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, as well as durable cast and reflective films.
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