Hsbc Holdings PLC Has $32.75 Million Holdings in Avery Dennison Co. (NYSE:AVY)

Hsbc Holdings PLC grew its position in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 10.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 174,913 shares of the industrial products company's stock after buying an additional 16,699 shares during the quarter. Hsbc Holdings PLC owned approximately 0.22% of Avery Dennison worth $32,751,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Nordea Investment Management AB grew its position in Avery Dennison by 485.2% in the fourth quarter. Nordea Investment Management AB now owns 35,630 shares of the industrial products company's stock worth $6,715,000 after acquiring an additional 29,541 shares in the last quarter. Meyer Handelman Co. acquired a new stake in shares of Avery Dennison in the 4th quarter valued at $4,263,000. JPMorgan Chase & Co. boosted its holdings in Avery Dennison by 12.4% in the third quarter. JPMorgan Chase & Co. now owns 420,232 shares of the industrial products company's stock worth $92,771,000 after purchasing an additional 46,390 shares in the last quarter. Fifth Third Wealth Advisors LLC acquired a new position in Avery Dennison during the fourth quarter worth $218,000. Finally, Merit Financial Group LLC bought a new position in Avery Dennison during the fourth quarter valued at about $203,000. Institutional investors own 94.17% of the company's stock.

Insider Buying and Selling

In other Avery Dennison news, Chairman Mitchell R. Butier sold 12,969 shares of Avery Dennison stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $181.85, for a total transaction of $2,358,412.65. Following the completion of the transaction, the chairman now directly owns 303,331 shares of the company's stock, valued at approximately $55,160,742.35. This trade represents a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.84% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on AVY. Barclays lowered their price objective on Avery Dennison from $225.00 to $210.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Citigroup lowered their price target on Avery Dennison from $228.00 to $202.00 and set a "neutral" rating on the stock in a report on Monday, January 6th. Raymond James reduced their price objective on shares of Avery Dennison from $208.00 to $194.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. JPMorgan Chase & Co. lowered shares of Avery Dennison from an "overweight" rating to a "neutral" rating and lowered their target price for the company from $205.00 to $172.00 in a research note on Thursday, April 24th. Finally, Jefferies Financial Group started coverage on shares of Avery Dennison in a research report on Tuesday, April 22nd. They set a "hold" rating and a $175.00 target price for the company. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $209.80.

Avery Dennison Stock Performance

Avery Dennison stock traded down $1.80 during trading hours on Wednesday, hitting $169.92. The stock had a trading volume of 330,041 shares, compared to its average volume of 806,449. The company has a 50-day moving average of $175.99 and a two-hundred day moving average of $188.99. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10. Avery Dennison Co. has a fifty-two week low of $157.00 and a fifty-two week high of $233.48. The company has a market cap of $13.34 billion, a PE ratio of 19.49, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85.

Avery Dennison (NYSE:AVY - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The industrial products company reported $2.30 EPS for the quarter, missing analysts' consensus estimates of $2.32 by ($0.02). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. The firm had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.15 billion. During the same quarter in the previous year, the company posted $2.29 earnings per share. The business's revenue for the quarter was down .1% compared to the same quarter last year. On average, equities research analysts anticipate that Avery Dennison Co. will post 9.96 EPS for the current fiscal year.

Avery Dennison Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be paid a $0.94 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $3.76 dividend on an annualized basis and a yield of 2.21%. This is a boost from Avery Dennison's previous quarterly dividend of $0.88. Avery Dennison's payout ratio is presently 43.32%.

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.