Janus Henderson Group PLC Has $2.02 Million Holdings in Avery Dennison Co. (NYSE:AVY)

Janus Henderson Group PLC raised its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 3.4% in the third quarter, Holdings Channel reports. The institutional investor owned 9,133 shares of the industrial products company’s stock after buying an additional 300 shares during the quarter. Janus Henderson Group PLC’s holdings in Avery Dennison were worth $2,016,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Innealta Capital LLC acquired a new position in shares of Avery Dennison during the second quarter worth approximately $28,000. Larson Financial Group LLC lifted its holdings in shares of Avery Dennison by 100.0% during the third quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock worth $31,000 after buying an additional 71 shares during the last quarter. Kennebec Savings Bank acquired a new position in shares of Avery Dennison in the third quarter valued at $36,000. Peterson Financial Group Inc. acquired a new position in shares of Avery Dennison in the third quarter valued at $39,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of Avery Dennison in the second quarter valued at $42,000. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Avery Dennison

In related news, SVP Nicholas Colisto sold 3,679 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $206.00, for a total value of $757,874.00. Following the transaction, the senior vice president now owns 7,126 shares in the company, valued at $1,467,956. This trade represents a 34.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is owned by company insiders.

Avery Dennison Price Performance

Shares of AVY stock opened at $197.70 on Friday. The stock’s fifty day moving average is $206.90 and its 200-day moving average is $214.60. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.92. The stock has a market capitalization of $15.88 billion, a PE ratio of 23.73, a PEG ratio of 1.56 and a beta of 0.87. Avery Dennison Co. has a 52 week low of $190.21 and a 52 week high of $233.48.

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

Avery Dennison Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Wednesday, December 4th. Avery Dennison’s dividend payout ratio is 42.26%.

Analysts Set New Price Targets

AVY has been the subject of a number of recent research reports. BMO Capital Markets cut their target price on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Barclays cut their target price on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. JPMorgan Chase & Co. lowered Avery Dennison from an “overweight” rating to a “neutral” rating and cut their target price for the company from $230.00 to $210.00 in a research note on Thursday, October 24th. Bank of America upgraded Avery Dennison from an “underperform” rating to a “buy” rating and upped their target price for the company from $207.00 to $250.00 in a research note on Thursday, October 17th. Finally, StockNews.com cut Avery Dennison from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Avery Dennison has an average rating of “Moderate Buy” and an average price target of $244.96.

About Avery Dennison

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.