Avery Dennison Corporation $AVY Stock Sold by BCV Asset Management Inc.

Key Points

• BCV Asset Management cut its Avery Dennison stake by 98% in the third quarter, selling 186,645 shares and retaining 3,730 shares valued at about $639,000.
• Avery Dennison beat quarterly earnings and revenue expectations: EPS was $2.42 versus a $2.32 consensus, while revenue rose 5.2% year over year to $2.33 billion.
• The company declared a quarterly dividend of $1 per share, equivalent to $4 annually and a 2.1% yield. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $201.10.

BCV Asset Management Inc. lowered its position in shares of Avery Dennison Corporation (NYSE:AVY - Free Report) by 98.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,730 shares of the industrial products company's stock after selling 186,645 shares during the period. BCV Asset Management Inc.'s holdings in Avery Dennison were worth $639,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. William Blair Investment Management LLC increased its position in shares of Avery Dennison by 26.0% in the third quarter. William Blair Investment Management LLC now owns 137,535 shares of the industrial products company's stock worth $23,473,000 after purchasing an additional 28,371 shares during the last quarter. Allworth Financial LP raised its stake in Avery Dennison by 47.4% in the third quarter. Allworth Financial LP now owns 1,744 shares of the industrial products company's stock valued at $283,000 after purchasing an additional 561 shares in the last quarter. Fifth Third Bancorp lifted its position in Avery Dennison by 29.8% during the third quarter. Fifth Third Bancorp now owns 22,974 shares of the industrial products company's stock valued at $3,921,000 after purchasing an additional 5,274 shares during the last quarter. Maryland State Retirement & Pension System grew its stake in Avery Dennison by 17.3% in the 3rd quarter. Maryland State Retirement & Pension System now owns 4,846 shares of the industrial products company's stock worth $827,000 after buying an additional 716 shares in the last quarter. Finally, Altman Advisors Inc. bought a new position in shares of Avery Dennison in the 3rd quarter worth $2,088,000. Institutional investors own 94.17% of the company's stock.

Avery Dennison Stock Up 0.6%

Shares of NYSE AVY opened at $188.03 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.16 and a debt-to-equity ratio of 1.33. Avery Dennison Corporation has a 52 week low of $152.42 and a 52 week high of $199.54. The firm's fifty day moving average is $176.24 and its 200 day moving average is $172.35. The company has a market cap of $14.20 billion, a price-to-earnings ratio of 20.35, a PEG ratio of 2.20 and a beta of 0.77.

Avery Dennison (NYSE:AVY - Get Free Report) last issued its quarterly earnings data on Thursday, October 29th. The industrial products company reported $2.42 EPS for the quarter, beating the consensus estimate of $2.32 by $0.10. Avery Dennison had a net margin of 7.56% and a return on equity of 33.88%. The firm had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same period in the prior year, the firm posted $2.37 earnings per share. The company's quarterly revenue was up 5.2% compared to the same quarter last year. On average, equities research analysts expect that Avery Dennison Corporation will post 10.17 earnings per share for the current year.

Avery Dennison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 16th. Investors of record on Wednesday, December 2nd will be issued a $1.00 dividend. The ex-dividend date is Wednesday, December 2nd. This represents a $4.00 annualized dividend and a yield of 2.1%. Avery Dennison's payout ratio is 43.29%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on AVY shares. Weiss Ratings upgraded Avery Dennison from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, November 4th. Citigroup upped their price objective on Avery Dennison from $186.00 to $191.00 and gave the stock a "neutral" rating in a report on Monday, November 2nd. UBS Group increased their price objective on Avery Dennison from $225.00 to $230.00 and gave the company a "buy" rating in a research report on Friday, October 30th. Bank of America restated a "buy" rating on shares of Avery Dennison in a research report on Friday, August 14th. Finally, Wall Street Zen lowered Avery Dennison from a "buy" rating to a "hold" rating in a research note on Sunday, November 8th. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, Avery Dennison presently has an average rating of "Moderate Buy" and a consensus price target of $201.10.

Insiders Place Their Bets

In other Avery Dennison news, SVP Nicholas Colisto sold 3,886 shares of the company's stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $170.68, for a total value of $663,262.48. Following the completion of the transaction, the senior vice president directly owned 7,126 shares in the company, valued at approximately $1,216,265.68. This represents a 35.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andres Alberto Lopez sold 4,000 shares of the firm's stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $193.80, for a total transaction of $775,200.00. Following the completion of the sale, the director directly owned 1,147 shares of the company's stock, valued at approximately $222,288.60. This represents a 77.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.81% of the stock is currently owned by insiders.

Avery Dennison Company Profile

Avery Dennison is a global materials science and digital identification solutions company. Its products include pressure-sensitive labels and adhesives, packaging materials, and graphic films used in applications such as product labeling, vehicle graphics, and building signage. The company also develops technologies that help businesses identify and track products, including RFID inlays and tags, which can support inventory management and supply-chain visibility. Its solutions serve customers across industries such as apparel, food and beverage, logistics, healthcare, and retail.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.