Unigestion Holding SA Invests $6.70 Million in Avery Dennison Co. (NYSE:AVY)

Unigestion Holding SA acquired a new position in Avery Dennison Co. (NYSE:AVY) in the 3rd quarter, Holdings Channel reports. The institutional investor acquired 30,355 shares of the industrial products company’s stock, valued at approximately $6,701,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Innealta Capital LLC bought a new position in shares of Avery Dennison in the second quarter valued at approximately $28,000. Larson Financial Group LLC boosted its stake in Avery Dennison by 100.0% during the 3rd quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 71 shares in the last quarter. Kennebec Savings Bank acquired a new position in shares of Avery Dennison during the 3rd quarter valued at $36,000. Peterson Financial Group Inc. bought a new stake in shares of Avery Dennison in the 3rd quarter worth $39,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in Avery Dennison during the second quarter valued at about $42,000. Institutional investors own 94.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AVY. Citigroup dropped their price target on shares of Avery Dennison from $241.00 to $240.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. lowered shares of Avery Dennison from an “overweight” rating to a “neutral” rating and cut their target price for the company from $230.00 to $210.00 in a research note on Thursday, October 24th. StockNews.com lowered shares of Avery Dennison from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Bank of America upgraded Avery Dennison from an “underperform” rating to a “buy” rating and increased their price objective for the company from $207.00 to $250.00 in a research report on Thursday, October 17th. Finally, BMO Capital Markets decreased 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 research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $244.96.

Insider Activity at Avery Dennison

In related news, SVP Nicholas Colisto sold 3,679 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $206.00, for a total value of $757,874.00. Following the completion of the sale, the senior vice president now directly owns 7,126 shares in the company, valued at approximately $1,467,956. This represents a 34.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 1.10% of the stock is currently owned by company insiders.

Avery Dennison Stock Performance

Shares of AVY opened at $201.39 on Wednesday. Avery Dennison Co. has a 52 week low of $190.04 and a 52 week high of $233.48. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.92. The company has a market capitalization of $16.18 billion, a PE ratio of 24.18, a PEG ratio of 1.56 and a beta of 0.87. The company’s 50 day moving average price is $207.58 and its 200 day moving average price is $214.84.

Avery Dennison (NYSE:AVY) last posted 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 for 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%. Avery Dennison’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.10 earnings per share. Research analysts expect that Avery Dennison Co. will post 9.42 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be issued a dividend of $0.88 per share. The ex-dividend date is Wednesday, December 4th. This represents a $3.52 annualized dividend and a dividend yield of 1.75%. Avery Dennison’s dividend payout ratio is 42.26%.

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.