Avery Dennison Corporation (AVY) Stake Maintained by Jasper Ridge Partners L.P.

Jasper Ridge Partners L.P. maintained its position in Avery Dennison Corporation (NYSE:AVY) during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,000 shares of the industrial products company’s stock at the close of the second quarter. Jasper Ridge Partners L.P.’s holdings in Avery Dennison Corporation were worth $619,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of AVY. BlackRock Inc. grew its holdings in shares of Avery Dennison Corporation by 3,215.2% in the first quarter. BlackRock Inc. now owns 6,908,540 shares of the industrial products company’s stock worth $556,829,000 after purchasing an additional 6,700,152 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Avery Dennison Corporation by 110.5% in the second quarter. Principal Financial Group Inc. now owns 1,759,374 shares of the industrial products company’s stock worth $155,476,000 after purchasing an additional 923,548 shares during the last quarter. Congress Asset Management Co. MA bought a new position in shares of Avery Dennison Corporation in the second quarter worth about $71,964,000. Westfield Capital Management Co. LP bought a new position in shares of Avery Dennison Corporation in the first quarter worth about $51,499,000. Finally, MARSHALL WACE ASIA Ltd bought a new position in shares of Avery Dennison Corporation in the first quarter worth about $31,288,000. Hedge funds and other institutional investors own 87.76% of the company’s stock.

A number of research analysts have recently commented on the stock. BidaskClub cut shares of Avery Dennison Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 9th. Zacks Investment Research upgraded shares of Avery Dennison Corporation from a “hold” rating to a “buy” rating and set a $93.00 price target on the stock in a report on Monday, May 22nd. Aegis restated a “hold” rating on shares of Avery Dennison Corporation in a report on Thursday, June 1st. Robert W. Baird restated a “buy” rating and issued a $100.00 price target on shares of Avery Dennison Corporation in a report on Friday, September 1st. Finally, Bank of America Corporation upgraded shares of Avery Dennison Corporation from a “neutral” rating to a “buy” rating and upped their price target for the stock from $90.00 to $96.00 in a report on Tuesday, June 20th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Avery Dennison Corporation presently has an average rating of “Buy” and an average price target of $92.86.

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In other Avery Dennison Corporation news, Director David E. I. Pyott sold 298 shares of the business’s stock in a transaction dated 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 directly owns 16,601 shares in the company, valued at $1,560,494. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David E. I. Pyott sold 2,000 shares of the business’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $94.00, for a total transaction of $188,000.00. Following the sale, the director now owns 16,601 shares in the company, valued at $1,560,494. The disclosure for this sale can be found here. Insiders have sold 12,298 shares of company stock worth $1,152,312 over the last quarter. Insiders own 1.40% of the company’s stock.

Shares of Avery Dennison Corporation (NYSE:AVY) traded up 0.370% on Monday, reaching $93.535. 121,300 shares of the company’s stock traded hands. Avery Dennison Corporation has a 52 week low of $68.55 and a 52 week high of $96.70. The firm has a market capitalization of $8.27 billion, a P/E ratio of 21.972 and a beta of 1.18. The firm’s 50 day moving average is $93.25 and its 200 day moving average is $86.26.

Avery Dennison Corporation (NYSE:AVY) last issued its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.10. The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.61 billion. Avery Dennison Corporation had a net margin of 6.14% and a return on equity of 39.29%. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.09 earnings per share. Analysts expect that Avery Dennison Corporation will post $4.82 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, September 1st. This represents a $1.80 dividend on an annualized basis and a yield of 1.93%. Avery Dennison Corporation’s dividend payout ratio (DPR) is presently 42.25%.

Avery Dennison Corporation Company 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).

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

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