Avery Dennison Co. (NYSE:AVY) Shares Acquired by Westfield Capital Management Co. LP

Westfield Capital Management Co. LP increased its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 1.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 497,849 shares of the industrial products company’s stock after buying an additional 9,505 shares during the quarter. Westfield Capital Management Co. LP owned 0.62% of Avery Dennison worth $109,905,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in AVY. Intech Investment Management LLC increased its holdings in shares of Avery Dennison by 3.3% during the second quarter. Intech Investment Management LLC now owns 1,559 shares of the industrial products company’s stock valued at $341,000 after acquiring an additional 50 shares in the last quarter. Empirical Finance LLC grew its position in Avery Dennison by 2.0% during the 3rd quarter. Empirical Finance LLC now owns 2,822 shares of the industrial products company’s stock worth $623,000 after purchasing an additional 55 shares during the last quarter. Procyon Advisors LLC increased its stake in Avery Dennison by 4.0% during the 3rd quarter. Procyon Advisors LLC now owns 1,442 shares of the industrial products company’s stock valued at $319,000 after purchasing an additional 56 shares in the last quarter. Lindenwold Advisors INC raised its holdings in shares of Avery Dennison by 0.6% in the third quarter. Lindenwold Advisors INC now owns 10,266 shares of the industrial products company’s stock worth $2,266,000 after buying an additional 59 shares during the last quarter. Finally, Bailard Inc. lifted its stake in shares of Avery Dennison by 0.5% during the second quarter. Bailard Inc. now owns 12,202 shares of the industrial products company’s stock worth $2,668,000 after buying an additional 61 shares during the period. 94.17% of the stock is owned by institutional investors and hedge funds.

Avery Dennison Stock Up 1.5 %

Avery Dennison stock opened at $202.59 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.92 and a quick ratio of 0.62. The stock has a market capitalization of $16.28 billion, a PE ratio of 24.32, a price-to-earnings-growth ratio of 1.53 and a beta of 0.89. The business has a 50 day simple moving average of $210.78 and a 200-day simple moving average of $216.80. Avery Dennison Co. has a 12 month low of $187.93 and a 12 month high of $233.48.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings data 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. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. The company had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.20 billion. During the same period in the prior year, the business posted $2.10 earnings per share. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, analysts anticipate that Avery Dennison Co. will post 9.42 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be paid a dividend of $0.88 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $3.52 annualized dividend and a yield of 1.74%. Avery Dennison’s dividend payout ratio (DPR) is currently 42.26%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. downgraded 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 report on Thursday, October 24th. BMO Capital Markets reduced their price objective on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Barclays cut their price target on shares of Avery Dennison from $250.00 to $245.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. Citigroup reduced their price target on shares of Avery Dennison from $241.00 to $240.00 and set a “neutral” rating for the company in a research report on Wednesday, October 2nd. Finally, StockNews.com downgraded shares of Avery Dennison from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Avery Dennison has an average rating of “Moderate Buy” and an average price target of $244.96.

About Avery Dennison

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.