Avery Dennison Corp (AVY) Shares Sold by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ lowered its stake in Avery Dennison Corp (NYSE:AVY) by 8.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 710,893 shares of the industrial products company’s stock after selling 61,455 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Avery Dennison were worth $77,025,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Congress Asset Management Co. MA increased its holdings in shares of Avery Dennison by 0.4% in the 3rd quarter. Congress Asset Management Co. MA now owns 827,183 shares of the industrial products company’s stock worth $89,625,000 after buying an additional 3,073 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in shares of Avery Dennison by 312.9% in the 2nd quarter. Point72 Asset Management L.P. now owns 514,956 shares of the industrial products company’s stock worth $52,577,000 after buying an additional 390,225 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of Avery Dennison by 2.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 466,156 shares of the industrial products company’s stock worth $47,595,000 after buying an additional 12,647 shares during the last quarter. TD Asset Management Inc. increased its holdings in shares of Avery Dennison by 3.2% in the 3rd quarter. TD Asset Management Inc. now owns 445,082 shares of the industrial products company’s stock worth $48,225,000 after buying an additional 13,630 shares during the last quarter. Finally, PGGM Investments increased its holdings in shares of Avery Dennison by 44.4% in the 2nd quarter. PGGM Investments now owns 403,955 shares of the industrial products company’s stock worth $41,244,000 after buying an additional 124,155 shares during the last quarter. Institutional investors and hedge funds own 83.76% of the company’s stock.

Shares of NYSE:AVY opened at $93.27 on Thursday. The stock has a market cap of $7.97 billion, a P/E ratio of 18.65, a PEG ratio of 2.17 and a beta of 1.37. Avery Dennison Corp has a 12 month low of $86.06 and a 12 month high of $123.67. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.71 and a current ratio of 1.00.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings results on Tuesday, October 23rd. The industrial products company reported $1.45 EPS for the quarter, missing the consensus estimate of $1.47 by ($0.02). The firm had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.75 billion. Avery Dennison had a net margin of 4.36% and a return on equity of 49.86%. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.26 earnings per share. On average, equities analysts forecast that Avery Dennison Corp will post 6.04 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 19th. Investors of record on Wednesday, December 5th will be issued a dividend of $0.52 per share. The ex-dividend date is Tuesday, December 4th. This represents a $2.08 annualized dividend and a yield of 2.23%. Avery Dennison’s payout ratio is 41.60%.

AVY has been the topic of a number of research reports. JPMorgan Chase & Co. upgraded shares of Avery Dennison from a “neutral” rating to an “overweight” rating and reduced their target price for the stock from $110.00 to $105.00 in a report on Wednesday, October 24th. Zacks Investment Research downgraded shares of Avery Dennison from a “hold” rating to a “sell” rating in a report on Friday, October 5th. Citigroup reduced their target price on shares of Avery Dennison from $130.00 to $128.00 and set a “buy” rating on the stock in a report on Thursday, October 11th. Loop Capital upgraded shares of Avery Dennison from a “hold” rating to a “buy” rating and set a $124.00 target price on the stock in a report on Thursday, September 13th. Finally, Bank of America boosted their target price on shares of Avery Dennison from $114.00 to $126.00 and gave the stock a “buy” rating in a report on Wednesday, July 25th. Two analysts have rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $120.25.

In related news, Director Anthony Anderson sold 1,275 shares of the company’s stock in a transaction dated Friday, September 7th. The shares were sold at an average price of $104.75, for a total transaction of $133,556.25. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

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About Avery Dennison

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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