Caprock Group LLC Boosts Position in Avery Dennison Co. (NYSE:AVY)

Caprock Group LLC increased its holdings in Avery Dennison Co. (NYSE:AVY) by 12.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,326 shares of the industrial products company’s stock after acquiring an additional 150 shares during the quarter. Caprock Group LLC’s holdings in Avery Dennison were worth $293,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Innealta Capital LLC bought a new position in shares of Avery Dennison in the 2nd quarter worth approximately $28,000. Kennebec Savings Bank bought a new position in Avery Dennison in the third quarter worth $36,000. Peterson Financial Group Inc. purchased a new position in Avery Dennison during the third quarter valued at $39,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Avery Dennison during the 2nd quarter valued at $42,000. Finally, 1620 Investment Advisors Inc. purchased a new stake in shares of Avery Dennison in the 2nd quarter worth about $51,000. Institutional investors own 94.17% of the company’s stock.

Avery Dennison Stock Performance

Shares of NYSE AVY opened at $202.59 on Monday. The firm’s 50-day moving average price is $210.78 and its 200-day moving average price is $216.75. Avery Dennison Co. has a 52-week low of $187.93 and a 52-week high of $233.48. The company has a market cap of $16.28 billion, a PE ratio of 24.32, a PEG ratio of 1.53 and a beta of 0.89. The company has a quick ratio of 0.62, a current ratio of 0.92 and a debt-to-equity ratio of 0.85.

Avery Dennison (NYSE:AVY) last posted its earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $2.32 by $0.01. The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.20 billion. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. The firm’s revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.10 EPS. As a group, analysts anticipate that Avery Dennison Co. will post 9.42 EPS for the current year.

Avery Dennison Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.74%. The ex-dividend date is Wednesday, December 4th. Avery Dennison’s payout ratio is currently 42.26%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on AVY shares. BMO Capital Markets lowered their price target 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. JPMorgan Chase & Co. cut Avery Dennison from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $230.00 to $210.00 in a research report on Thursday, October 24th. StockNews.com lowered Avery Dennison from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Barclays dropped their target price on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. Finally, Citigroup lowered their price target on Avery Dennison from $241.00 to $240.00 and set a “neutral” rating for the company in a research report on Wednesday, October 2nd. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $244.96.

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.