Chicago Partners Investment Group LLC Acquires 1,337 Shares of Avery Dennison Corporation $AVY

Chicago Partners Investment Group LLC lifted its holdings in Avery Dennison Corporation (NYSE:AVY) by 48.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,123 shares of the industrial products company’s stock after acquiring an additional 1,337 shares during the period. Chicago Partners Investment Group LLC’s holdings in Avery Dennison were worth $741,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Strengthening Families & Communities LLC raised its position in shares of Avery Dennison by 16.6% in the 2nd quarter. Strengthening Families & Communities LLC now owns 408 shares of the industrial products company’s stock worth $73,000 after acquiring an additional 58 shares in the last quarter. Bill Few Associates Inc. grew its stake in shares of Avery Dennison by 0.5% in the 2nd quarter. Bill Few Associates Inc. now owns 13,341 shares of the industrial products company’s stock valued at $2,341,000 after buying an additional 67 shares during the period. Diversified Trust Co grew its stake in shares of Avery Dennison by 0.5% in the 2nd quarter. Diversified Trust Co now owns 13,287 shares of the industrial products company’s stock valued at $2,331,000 after buying an additional 71 shares during the period. Forum Financial Management LP grew its stake in shares of Avery Dennison by 5.6% in the 1st quarter. Forum Financial Management LP now owns 1,384 shares of the industrial products company’s stock valued at $246,000 after buying an additional 73 shares during the period. Finally, Brown Advisory Inc. grew its stake in shares of Avery Dennison by 3.6% in the 1st quarter. Brown Advisory Inc. now owns 2,169 shares of the industrial products company’s stock valued at $386,000 after buying an additional 76 shares during the period. 94.17% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Citigroup reduced their target price on Avery Dennison from $191.00 to $177.00 and set a “neutral” rating for the company in a research note on Monday, September 29th. BMO Capital Markets restated an “outperform” rating and issued a $207.00 target price (down from $216.00) on shares of Avery Dennison in a research note on Wednesday, July 23rd. UBS Group reduced their target price on Avery Dennison from $188.00 to $181.00 and set a “neutral” rating for the company in a research note on Monday, October 6th. Weiss Ratings restated a “hold (c-)” rating on shares of Avery Dennison in a research note on Tuesday, October 14th. Finally, Bank of America raised their target price on Avery Dennison from $195.00 to $208.00 and gave the company a “buy” rating in a research note on Wednesday, July 9th. Six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $195.30.

Avery Dennison Price Performance

AVY stock opened at $163.67 on Wednesday. The company has a market capitalization of $12.76 billion, a P/E ratio of 18.37, a price-to-earnings-growth ratio of 2.37 and a beta of 0.95. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.70 and a current ratio of 1.04. Avery Dennison Corporation has a 52-week low of $156.23 and a 52-week high of $220.02. The business has a 50-day simple moving average of $166.42 and a two-hundred day simple moving average of $172.27.

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

Avery Dennison Announces Dividend

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

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.