CIBC Asset Management Inc Has $787,000 Position in Avery Dennison Corp (AVY)

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CIBC Asset Management Inc decreased its stake in shares of Avery Dennison Corp (NYSE:AVY) by 3.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,758 shares of the industrial products company’s stock after selling 353 shares during the period. CIBC Asset Management Inc’s holdings in Avery Dennison were worth $787,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Cigna Investments Inc. New lifted its holdings in Avery Dennison by 5.1% during the fourth quarter. Cigna Investments Inc. New now owns 2,636 shares of the industrial products company’s stock worth $237,000 after acquiring an additional 128 shares during the period. ETF Managers Group LLC lifted its holdings in Avery Dennison by 18.1% during the fourth quarter. ETF Managers Group LLC now owns 1,249 shares of the industrial products company’s stock worth $112,000 after acquiring an additional 191 shares during the period. BB&T Securities LLC lifted its holdings in Avery Dennison by 3.1% during the fourth quarter. BB&T Securities LLC now owns 6,559 shares of the industrial products company’s stock worth $589,000 after acquiring an additional 198 shares during the period. Daiwa Securities Group Inc. lifted its holdings in Avery Dennison by 6.8% during the fourth quarter. Daiwa Securities Group Inc. now owns 3,120 shares of the industrial products company’s stock worth $280,000 after acquiring an additional 200 shares during the period. Finally, Cerebellum GP LLC lifted its holdings in Avery Dennison by 12.5% during the fourth quarter. Cerebellum GP LLC now owns 1,978 shares of the industrial products company’s stock worth $178,000 after acquiring an additional 219 shares during the period. 84.50% of the stock is currently owned by institutional investors.

Shares of AVY opened at $110.12 on Friday. The firm has a market capitalization of $9.23 billion, a price-to-earnings ratio of 18.17, a PEG ratio of 2.40 and a beta of 1.39. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.83 and a current ratio of 1.15. Avery Dennison Corp has a 1 year low of $82.89 and a 1 year high of $116.35.

Avery Dennison (NYSE:AVY) last issued its earnings results on Wednesday, January 30th. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.50 by $0.02. The firm had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.79 billion. Avery Dennison had a return on equity of 52.22% and a net margin of 6.53%. The business’s revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.33 earnings per share. Research analysts anticipate that Avery Dennison Corp will post 6.57 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Tuesday, March 5th. This represents a $2.08 annualized dividend and a dividend yield of 1.89%. Avery Dennison’s payout ratio is presently 34.32%.

In other Avery Dennison news, Director Dean A. Scarborough sold 15,420 shares of the business’s stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $109.07, for a total value of $1,681,859.40. Following the sale, the director now directly owns 29,151 shares in the company, valued at $3,179,499.57. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Julia A. Stewart sold 5,027 shares of the business’s stock in a transaction on Friday, February 1st. The shares were sold at an average price of $104.19, for a total value of $523,763.13. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 235,664 shares of company stock worth $25,593,024. Corporate insiders own 1.30% of the company’s stock.

A number of analysts recently commented on AVY shares. UBS Group set a $135.00 price target on Avery Dennison and gave the stock a “buy” rating in a report on Tuesday, November 20th. Zacks Investment Research upgraded Avery Dennison from a “sell” rating to a “hold” rating in a report on Wednesday, November 21st. ValuEngine upgraded Avery Dennison from a “sell” rating to a “hold” rating in a report on Wednesday, December 5th. Citigroup dropped their price target on Avery Dennison from $122.00 to $110.00 and set a “buy” rating on the stock in a report on Monday, January 7th. Finally, BMO Capital Markets lifted their price target on Avery Dennison to $114.00 and gave the stock a “market perform” rating in a report on Monday, February 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. Avery Dennison has a consensus rating of “Buy” and a consensus price target of $119.50.

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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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