Avery Dennison Corporation (NYSE:AVY) Shares Acquired by XTX Topco Ltd

XTX Topco Ltd raised its stake in Avery Dennison Corporation (NYSE:AVY - Free Report) by 167.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,854 shares of the industrial products company's stock after acquiring an additional 9,297 shares during the period. XTX Topco Ltd's holdings in Avery Dennison were worth $2,644,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. boosted its position in shares of Avery Dennison by 3.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,225,309 shares of the industrial products company's stock valued at $790,683,000 after buying an additional 150,572 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of Avery Dennison by 12.9% during the fourth quarter. Ameriprise Financial Inc. now owns 2,185,732 shares of the industrial products company's stock valued at $409,014,000 after buying an additional 250,359 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Avery Dennison by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 2,102,331 shares of the industrial products company's stock valued at $392,445,000 after buying an additional 13,815 shares during the last quarter. Lazard Asset Management LLC lifted its holdings in Avery Dennison by 4.0% in the fourth quarter. Lazard Asset Management LLC now owns 1,841,520 shares of the industrial products company's stock valued at $344,603,000 after acquiring an additional 71,435 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in Avery Dennison by 17.3% in the first quarter. Victory Capital Management Inc. now owns 1,582,933 shares of the industrial products company's stock valued at $281,715,000 after acquiring an additional 233,062 shares during the period. 94.17% of the stock is owned by hedge funds and other institutional investors.

Avery Dennison Stock Down 1.2%

AVY stock traded down $2.01 on Friday, hitting $165.76. 765,721 shares of the company's stock were exchanged, compared to its average volume of 572,953. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.70 and a current ratio of 1.04. The firm has a 50 day moving average price of $177.95 and a two-hundred day moving average price of $178.74. The stock has a market cap of $12.93 billion, a P/E ratio of 18.60, a price-to-earnings-growth ratio of 2.58 and a beta of 0.88. Avery Dennison Corporation has a 12-month low of $157.00 and a 12-month high of $224.38.

Avery Dennison (NYSE:AVY - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The industrial products company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.38 by $0.04. The business had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.23 billion. Avery Dennison had a return on equity of 33.14% and a net margin of 8.14%. The company's quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.42 EPS. As a group, equities research analysts expect that Avery Dennison Corporation will post 9.96 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd will be paid a $0.94 dividend. The ex-dividend date is Wednesday, September 3rd. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.3%. Avery Dennison's dividend payout ratio is presently 42.20%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on AVY shares. Argus downgraded Avery Dennison from a "strong-buy" rating to a "hold" rating in a report on Monday, May 12th. Robert W. Baird decreased their price objective on Avery Dennison from $220.00 to $210.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Bank of America raised their price objective on Avery Dennison from $195.00 to $208.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Citigroup lifted their target price on Avery Dennison from $177.00 to $185.00 and gave the company a "neutral" rating in a research note on Friday, July 11th. Finally, UBS Group decreased their target price on Avery Dennison from $207.00 to $189.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $197.60.

Avery Dennison Company 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.