Pacer Advisors Inc. Has $2.16 Million Stock Position in Avery Dennison Corporation (NYSE:AVY)

Pacer Advisors Inc. lessened its stake in Avery Dennison Corporation (NYSE:AVY - Free Report) by 25.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,144 shares of the industrial products company's stock after selling 4,149 shares during the period. Pacer Advisors Inc.'s holdings in Avery Dennison were worth $2,161,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. American Century Companies Inc. boosted its holdings in shares of Avery Dennison by 4.2% during the fourth quarter. American Century Companies Inc. now owns 20,382 shares of the industrial products company's stock valued at $3,814,000 after acquiring an additional 819 shares during the period. LPL Financial LLC boosted its holdings in shares of Avery Dennison by 1.9% during the fourth quarter. LPL Financial LLC now owns 61,490 shares of the industrial products company's stock valued at $11,507,000 after acquiring an additional 1,148 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Avery Dennison by 6.3% during the fourth quarter. JPMorgan Chase & Co. now owns 446,530 shares of the industrial products company's stock valued at $83,559,000 after acquiring an additional 26,298 shares during the period. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Avery Dennison by 1.2% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 25,855 shares of the industrial products company's stock valued at $4,838,000 after acquiring an additional 319 shares during the period. Finally, Pictet Asset Management Holding SA boosted its holdings in shares of Avery Dennison by 14.8% during the fourth quarter. Pictet Asset Management Holding SA now owns 51,966 shares of the industrial products company's stock valued at $9,724,000 after acquiring an additional 6,707 shares during the period. Institutional investors own 94.17% of the company's stock.

Analyst Upgrades and Downgrades

AVY has been the subject of several research analyst reports. Bank of America upped their price objective on shares of Avery Dennison from $195.00 to $208.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Citigroup upped their price objective on shares of Avery Dennison from $177.00 to $185.00 and gave the stock a "neutral" rating in a report on Friday, July 11th. UBS Group reduced their price objective on shares of Avery Dennison from $207.00 to $189.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Argus downgraded shares of Avery Dennison from a "strong-buy" rating to a "hold" rating in a report on Monday, May 12th. Finally, Jefferies Financial Group initiated coverage on shares of Avery Dennison in a report on Tuesday, April 22nd. They issued a "hold" rating and a $175.00 price target for the company. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $197.60.

Avery Dennison Price Performance

Shares of NYSE:AVY traded down $2.01 during midday trading on Friday, reaching $165.76. The company's stock had a trading volume of 765,721 shares, compared to its average volume of 572,953. Avery Dennison Corporation has a fifty-two week low of $157.00 and a fifty-two week high of $224.38. The company has a market capitalization of $12.93 billion, a P/E ratio of 18.60, a P/E/G ratio of 2.58 and a beta of 0.88. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.04 and a quick ratio of 0.70. The business's fifty day simple moving average is $177.95 and its 200-day simple moving average is $178.74.

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 (EPS) 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 analysts' expectations of $2.23 billion. Avery Dennison had a return on equity of 33.14% and a net margin of 8.14%. The firm's quarterly revenue was down .7% compared to the same quarter last year. During the same quarter last year, the business earned $2.42 earnings per share. 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 firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Wednesday, September 3rd. Avery Dennison's payout ratio is 42.20%.

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.