Avery Dennison Co. (NYSE:AVY) Stake Raised by Cibc World Markets Corp

Cibc World Markets Corp increased its holdings in Avery Dennison Co. (NYSE:AVY) by 299.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,529 shares of the industrial products company’s stock after buying an additional 32,639 shares during the quarter. Cibc World Markets Corp owned about 0.05% of Avery Dennison worth $8,146,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in AVY. Geode Capital Management LLC grew its stake in shares of Avery Dennison by 8.2% in the third quarter. Geode Capital Management LLC now owns 2,088,516 shares of the industrial products company’s stock worth $459,621,000 after purchasing an additional 157,754 shares in the last quarter. Bank of New York Mellon Corp grew its position in Avery Dennison by 21.4% in the 4th quarter. Bank of New York Mellon Corp now owns 764,591 shares of the industrial products company’s stock valued at $143,078,000 after buying an additional 134,560 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Avery Dennison by 0.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 699,541 shares of the industrial products company’s stock valued at $154,431,000 after buying an additional 3,118 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Avery Dennison by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 699,091 shares of the industrial products company’s stock worth $130,821,000 after buying an additional 10,674 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of Avery Dennison by 0.8% in the 3rd quarter. Principal Financial Group Inc. now owns 617,611 shares of the industrial products company’s stock worth $136,338,000 after acquiring an additional 4,670 shares during the period. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AVY has been the topic of a number of research analyst reports. Robert W. Baird set a $220.00 price objective on shares of Avery Dennison in a research note on Friday, January 31st. Barclays dropped their price objective on Avery Dennison from $245.00 to $225.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. UBS Group decreased their target price on Avery Dennison from $235.00 to $207.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. JPMorgan Chase & Co. upgraded shares of Avery Dennison from a “neutral” rating to an “overweight” rating and dropped their price target for the stock from $210.00 to $205.00 in a research report on Friday, January 31st. Finally, Raymond James restated an “outperform” rating and set a $208.00 price objective (down previously from $218.00) on shares of Avery Dennison in a research report on Friday, January 31st. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $222.51.

Insider Activity

In related news, Chairman Mitchell R. Butier sold 12,969 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $181.85, for a total transaction of $2,358,412.65. Following the transaction, the chairman now directly owns 303,331 shares of the company’s stock, valued at approximately $55,160,742.35. The trade was a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.10% of the stock is owned by corporate insiders.

Avery Dennison Stock Performance

Avery Dennison stock opened at $179.85 on Wednesday. Avery Dennison Co. has a fifty-two week low of $174.91 and a fifty-two week high of $233.48. The firm’s 50 day simple moving average is $185.19 and its 200-day simple moving average is $198.81. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73. The company has a market cap of $14.20 billion, a P/E ratio of 20.62, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85.

Avery Dennison (NYSE:AVY) last announced its earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.39 by ($0.01). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. As a group, equities research analysts predict that Avery Dennison Co. will post 9.96 EPS for the current year.

Avery Dennison Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be paid a dividend of $0.88 per share. The ex-dividend date is Wednesday, March 5th. This represents a $3.52 annualized dividend and a yield of 1.96%. Avery Dennison’s dividend payout ratio (DPR) is presently 40.37%.

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.