Citigroup Inc. Purchases 40,694 Shares of Avery Dennison Corporation $AVY

Citigroup Inc. increased its holdings in shares of Avery Dennison Corporation (NYSE:AVY - Free Report) by 70.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 98,502 shares of the industrial products company's stock after buying an additional 40,694 shares during the quarter. Citigroup Inc. owned 0.13% of Avery Dennison worth $17,530,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Bayforest Capital Ltd bought a new stake in shares of Avery Dennison during the 1st quarter worth $27,000. Costello Asset Management INC acquired a new stake in shares of Avery Dennison during the 1st quarter valued at $40,000. American National Bank & Trust acquired a new stake in shares of Avery Dennison during the 1st quarter valued at $49,000. Grove Bank & Trust boosted its holdings in shares of Avery Dennison by 17.7% during the 1st quarter. Grove Bank & Trust now owns 393 shares of the industrial products company's stock valued at $70,000 after acquiring an additional 59 shares in the last quarter. Finally, Abound Financial LLC acquired a new stake in shares of Avery Dennison during the 1st quarter valued at $71,000. 94.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AVY has been the topic of several recent research reports. Wall Street Zen raised Avery Dennison from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Barclays cut 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. BMO Capital Markets reissued an "outperform" rating and set a $207.00 price objective (down previously from $216.00) on shares of Avery Dennison in a report on Wednesday, July 23rd. Jefferies Financial Group began coverage on Avery Dennison in a research report on Tuesday, April 22nd. They set a "hold" rating and a $175.00 target price for the company. Finally, JPMorgan Chase & Co. raised their target price on Avery Dennison from $172.00 to $182.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $197.60.

Avery Dennison Trading Down 0.6%

Shares of AVY stock traded down $1.07 on Monday, hitting $173.72. The company had a trading volume of 99,788 shares, compared to its average volume of 746,061. The stock's 50-day moving average is $176.66 and its two-hundred day moving average is $177.23. Avery Dennison Corporation has a twelve month low of $157.00 and a twelve month high of $224.38. 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 market cap of $13.55 billion, a P/E ratio of 19.50, a P/E/G ratio of 2.69 and a beta of 0.88.

Avery Dennison (NYSE:AVY - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The industrial products company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.04. Avery Dennison had a return on equity of 33.14% and a net margin of 8.14%. The firm had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.23 billion. During the same period last year, the company posted $2.42 EPS. The business's quarterly revenue was down .7% on a year-over-year basis. On average, equities research analysts anticipate that Avery Dennison Corporation will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd will be given a $0.94 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $3.76 annualized dividend and a dividend yield of 2.2%. Avery Dennison's dividend payout ratio (DPR) is 42.20%.

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.