Zeke Capital Advisors LLC Purchases Shares of 15,635 Avery Dennison Corp (AVY)

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Zeke Capital Advisors LLC purchased a new position in shares of Avery Dennison Corp (NYSE:AVY) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 15,635 shares of the industrial products company’s stock, valued at approximately $1,694,000.

Several other hedge funds have also bought and sold shares of the business. JPMorgan Chase & Co. raised its stake in shares of Avery Dennison by 55.8% during the third quarter. JPMorgan Chase & Co. now owns 1,810,315 shares of the industrial products company’s stock worth $196,147,000 after acquiring an additional 648,126 shares in the last quarter. Congress Asset Management Co. MA raised its stake in shares of Avery Dennison by 0.4% during the third quarter. Congress Asset Management Co. MA now owns 827,183 shares of the industrial products company’s stock worth $89,625,000 after acquiring an additional 3,073 shares in the last quarter. Point72 Asset Management L.P. raised its stake in shares of Avery Dennison by 312.9% during the second quarter. Point72 Asset Management L.P. now owns 514,956 shares of the industrial products company’s stock worth $52,577,000 after acquiring an additional 390,225 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Avery Dennison by 2.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 466,156 shares of the industrial products company’s stock worth $47,595,000 after acquiring an additional 12,647 shares in the last quarter. Finally, TD Asset Management Inc. raised its stake in shares of Avery Dennison by 3.2% during the third quarter. TD Asset Management Inc. now owns 445,082 shares of the industrial products company’s stock worth $48,225,000 after acquiring an additional 13,630 shares in the last quarter. 84.06% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have recently issued reports on the stock. Loop Capital raised their target price on shares of Avery Dennison to $115.00 and gave the stock a “hold” rating in a report on Wednesday, July 25th. Bank of America raised their target price on shares of Avery Dennison from $114.00 to $126.00 and gave the stock a “buy” rating in a report on Wednesday, July 25th. Zacks Investment Research upgraded shares of Avery Dennison from a “sell” rating to a “hold” rating in a report on Monday. ValuEngine cut shares of Avery Dennison from a “hold” rating to a “sell” rating in a report on Friday, October 26th. Finally, Barclays cut their target price on shares of Avery Dennison from $135.00 to $130.00 and set an “overweight” rating on the stock in a report on Monday, October 29th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. Avery Dennison currently has a consensus rating of “Buy” and a consensus target price of $120.25.

In related news, Director Anthony Anderson sold 1,275 shares of Avery Dennison stock in a transaction on Friday, September 7th. The shares were sold at an average price of $104.75, for a total value of $133,556.25. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.30% of the stock is currently owned by company insiders.

Shares of Avery Dennison stock traded up $0.93 on Wednesday, hitting $92.87. The stock had a trading volume of 54,509 shares, compared to its average volume of 1,004,697. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.71 and a current ratio of 1.00. Avery Dennison Corp has a one year low of $86.06 and a one year high of $123.67. The stock has a market capitalization of $7.93 billion, a price-to-earnings ratio of 18.57, a P/E/G ratio of 2.16 and a beta of 1.37.

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

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 19th. Stockholders of record on Wednesday, December 5th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend is Tuesday, December 4th. Avery Dennison’s dividend payout ratio is 41.60%.

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Avery Dennison Company Profile

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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