Pacer Advisors Inc. Has $1.03 Million Stock Position in Avery Dennison Corp (NYSE:AVY)

Pacer Advisors Inc. increased its position in shares of Avery Dennison Corp (NYSE:AVY) by 10.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,041 shares of the industrial products company’s stock after buying an additional 839 shares during the quarter. Pacer Advisors Inc.’s holdings in Avery Dennison were worth $1,027,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its stake in Avery Dennison by 12.7% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 5,555,193 shares of the industrial products company’s stock worth $642,625,000 after buying an additional 626,277 shares during the period. Boston Partners raised its stake in Avery Dennison by 26.2% during the 2nd quarter. Boston Partners now owns 2,064,187 shares of the industrial products company’s stock worth $238,767,000 after buying an additional 428,743 shares during the period. Invesco Ltd. raised its stake in Avery Dennison by 14.2% during the 2nd quarter. Invesco Ltd. now owns 1,871,043 shares of the industrial products company’s stock worth $216,442,000 after buying an additional 233,009 shares during the period. Victory Capital Management Inc. raised its stake in Avery Dennison by 77.1% during the 2nd quarter. Victory Capital Management Inc. now owns 1,857,542 shares of the industrial products company’s stock worth $214,881,000 after buying an additional 808,710 shares during the period. Finally, Marshall Wace North America L.P. raised its stake in Avery Dennison by 106.4% during the 2nd quarter. Marshall Wace North America L.P. now owns 1,031,090 shares of the industrial products company’s stock worth $119,277,000 after buying an additional 531,517 shares during the period. 88.39% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts recently weighed in on the company. Berenberg Bank assumed coverage on Avery Dennison in a research note on Thursday, August 15th. They set a “buy” rating and a $130.00 price target on the stock. KeyCorp reissued a “hold” rating on shares of Avery Dennison in a research note on Friday, September 13th. JPMorgan Chase & Co. increased their price objective on Avery Dennison from $105.00 to $111.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 24th. Bank of America raised Avery Dennison from a “neutral” rating to a “buy” rating and set a $130.00 price objective for the company in a research note on Friday, September 13th. Finally, UBS Group lowered their price objective on Avery Dennison from $130.00 to $129.00 and set a “buy” rating for the company in a research note on Friday, September 13th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $123.25.

Shares of Avery Dennison stock opened at $116.89 on Friday. The company has a market cap of $9.71 billion, a PE ratio of 19.29, a price-to-earnings-growth ratio of 2.14 and a beta of 1.30. Avery Dennison Corp has a 52 week low of $82.89 and a 52 week high of $120.65. The business has a 50 day moving average price of $113.38 and a 200-day moving average price of $111.91. The company has a quick ratio of 0.75, a current ratio of 1.04 and a debt-to-equity ratio of 1.41.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $1.72 EPS for the quarter, topping the consensus estimate of $1.68 by $0.04. The firm had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.83 billion. Avery Dennison had a return on equity of 52.67% and a net margin of 3.44%. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.66 earnings per share. As a group, research analysts anticipate that Avery Dennison Corp will post 6.52 EPS for the current year.

In other news, insider Georges Gravanis sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $116.88, for a total value of $292,200.00. Following the completion of the transaction, the insider now directly owns 13,637 shares of the company’s stock, valued at $1,593,892.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Anthony Anderson sold 2,150 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $114.54, for a total value of $246,261.00. Following the completion of the transaction, the director now directly owns 2,862 shares of the company’s stock, valued at $327,813.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 76,490 shares of company stock valued at $8,886,301. Company insiders own 1.30% of the company’s stock.

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, as well as durable cast and reflective films.

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

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