Point72 Hong Kong Ltd Cuts Stock Position in Avery Dennison Co. (NYSE:AVY)

Point72 Hong Kong Ltd decreased its holdings in Avery Dennison Co. (NYSE:AVY) by 97.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 277 shares of the industrial products company’s stock after selling 9,673 shares during the quarter. Point72 Hong Kong Ltd’s holdings in Avery Dennison were worth $61,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Innealta Capital LLC purchased a new position in Avery Dennison in the 2nd quarter valued at approximately $28,000. Larson Financial Group LLC boosted its holdings in Avery Dennison by 100.0% in the third quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 71 shares during the period. Kennebec Savings Bank acquired a new position in Avery Dennison during the 3rd quarter worth $36,000. Peterson Financial Group Inc. purchased a new stake in Avery Dennison during the 3rd quarter worth about $39,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Avery Dennison in the 2nd quarter valued at about $42,000. Institutional investors and hedge funds own 94.17% of the company’s stock.

Insider Buying and Selling at Avery Dennison

In other news, SVP Nicholas Colisto sold 3,679 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $206.00, for a total transaction of $757,874.00. Following the sale, the senior vice president now owns 7,126 shares of the company’s stock, valued at $1,467,956. The trade was a 34.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

AVY has been the topic of several analyst reports. Bank of America raised shares of Avery Dennison from an “underperform” rating to a “buy” rating and raised their target price for the company from $207.00 to $250.00 in a report on Thursday, October 17th. BMO Capital Markets decreased their price objective on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Citigroup lowered their target price on shares of Avery Dennison from $241.00 to $240.00 and set a “neutral” rating for the company in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. cut Avery Dennison from an “overweight” rating to a “neutral” rating and cut their price target for the company from $230.00 to $210.00 in a research note on Thursday, October 24th. Finally, Barclays lowered their price objective on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating for the company in a research report on Monday, October 28th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Avery Dennison has a consensus rating of “Moderate Buy” and an average target price of $244.96.

Avery Dennison Price Performance

Shares of NYSE AVY opened at $205.11 on Wednesday. The stock has a 50 day moving average of $209.34 and a two-hundred day moving average of $215.70. The stock has a market cap of $16.48 billion, a P/E ratio of 24.62, a P/E/G ratio of 1.58 and a beta of 0.87. Avery Dennison Co. has a twelve month low of $190.04 and a twelve month high of $233.48. The company has a current ratio of 0.92, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $2.20 billion. During the same period last year, the firm posted $2.10 EPS. Avery Dennison’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, research analysts forecast that Avery Dennison Co. will post 9.42 earnings per share for the current year.

Avery Dennison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.72%. The ex-dividend date is Wednesday, December 4th. Avery Dennison’s dividend payout ratio (DPR) is presently 42.26%.

Avery Dennison Profile

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.