Jennison Associates LLC Invests $1.88 Million in Avery Dennison Corporation (AVY) Stock

Jennison Associates LLC purchased a new stake in shares of Avery Dennison Corporation (NYSE:AVY) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 19,068 shares of the industrial products company’s stock, valued at approximately $1,875,000.

A number of other hedge funds and other institutional investors have also modified their holdings of AVY. Breton Hill Capital Ltd. bought a new stake in Avery Dennison Corporation during the 3rd quarter valued at about $470,000. Swiss National Bank increased its stake in Avery Dennison Corporation by 0.3% during the 3rd quarter. Swiss National Bank now owns 327,256 shares of the industrial products company’s stock valued at $32,182,000 after purchasing an additional 1,100 shares in the last quarter. Jaffetilchin Investment Partners LLC bought a new stake in Avery Dennison Corporation during the 3rd quarter valued at about $653,000. Segantii Capital Management Ltd bought a new stake in Avery Dennison Corporation during the 3rd quarter valued at about $2,459,000. Finally, Oregon Public Employees Retirement Fund increased its stake in Avery Dennison Corporation by 7.5% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 21,499 shares of the industrial products company’s stock valued at $2,114,000 after purchasing an additional 1,508 shares in the last quarter. 86.80% of the stock is owned by institutional investors.



Shares of Avery Dennison Corporation (NYSE AVY) opened at $108.29 on Monday. Avery Dennison Corporation has a 12 month low of $69.53 and a 12 month high of $108.99. The company has a market cap of $9,530.00, a P/E ratio of 23.19, a PEG ratio of 3.14 and a beta of 1.22. The company has a quick ratio of 0.82, a current ratio of 1.13 and a debt-to-equity ratio of 1.14.

Avery Dennison Corporation (NYSE:AVY) last announced its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.05. Avery Dennison Corporation had a net margin of 6.27% and a return on equity of 40.52%. The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same period in the previous year, the business posted $1.01 earnings per share. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. research analysts anticipate that Avery Dennison Corporation will post 4.93 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Wednesday, December 6th will be paid a $0.45 dividend. The ex-dividend date is Tuesday, December 5th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.66%. Avery Dennison Corporation’s dividend payout ratio is presently 40.18%.

In related news, Director Julia A. Stewart sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $108.42, for a total transaction of $433,680.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David E. I. Pyott sold 298 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $94.00, for a total transaction of $28,012.00. Following the sale, the director now owns 16,601 shares of the company’s stock, valued at $1,560,494. The disclosure for this sale can be found here. Insiders sold 144,047 shares of company stock valued at $15,258,161 over the last quarter. Company insiders own 1.40% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This article was first reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this article on another domain, it was illegally stolen and reposted in violation of U.S. & international trademark and copyright legislation. The original version of this article can be accessed at https://ledgergazette.com/2017/11/20/jennison-associates-llc-invests-1-88-million-in-avery-dennison-corporation-avy-stock.html.

A number of analysts have weighed in on AVY shares. Zacks Investment Research upgraded shares of Avery Dennison Corporation from a “sell” rating to a “buy” rating and set a $117.00 price objective for the company in a research note on Friday, October 27th. Robert W. Baird restated a “buy” rating and set a $115.00 price objective on shares of Avery Dennison Corporation in a research note on Friday, October 27th. Citigroup Inc. raised their price objective on shares of Avery Dennison Corporation from $106.00 to $108.00 and gave the company a “buy” rating in a research note on Wednesday, July 26th. KeyCorp restated a “hold” rating on shares of Avery Dennison Corporation in a research note on Monday, October 30th. Finally, Loop Capital started coverage on shares of Avery Dennison Corporation in a research note on Thursday, September 28th. They set a “hold” rating and a $99.00 price objective for the company. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $105.71.

Avery Dennison Corporation Profile

Avery Dennison Corporation (Avery Dennison) is engaged in the production of pressure-sensitive materials and a range of tickets, tags, labels and other converted products. The Company’s segments include Label and Graphic Materials (LGM); Retail Branding and Information Solutions (RBIS), and Industrial and Healthcare Materials (IHM).

Want to see what other hedge funds are holding AVY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Avery Dennison Corporation (NYSE:AVY).

Institutional Ownership by Quarter for Avery Dennison Corporation (NYSE:AVY)

Receive News & Ratings for Avery Dennison Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avery Dennison Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply