Janus Henderson Group PLC Acquires 20,530 Shares of Avery Dennison Corp (AVY)

Janus Henderson Group PLC raised its holdings in shares of Avery Dennison Corp (NYSE:AVY) by 12.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 185,733 shares of the industrial products company’s stock after acquiring an additional 20,530 shares during the period. Janus Henderson Group PLC’s holdings in Avery Dennison were worth $20,992,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Fort L.P. grew its position in Avery Dennison by 2.1% during the fourth quarter. Fort L.P. now owns 4,939 shares of the industrial products company’s stock valued at $444,000 after acquiring an additional 101 shares during the last quarter. American International Group Inc. grew its position in Avery Dennison by 0.3% during the fourth quarter. American International Group Inc. now owns 34,688 shares of the industrial products company’s stock valued at $3,116,000 after acquiring an additional 113 shares during the last quarter. Brinker Capital Inc. grew its position in Avery Dennison by 2.3% during the fourth quarter. Brinker Capital Inc. now owns 5,329 shares of the industrial products company’s stock valued at $479,000 after acquiring an additional 118 shares during the last quarter. Cigna Investments Inc. New grew its position in Avery Dennison by 5.1% during the fourth quarter. Cigna Investments Inc. New now owns 2,636 shares of the industrial products company’s stock valued at $237,000 after acquiring an additional 128 shares during the last quarter. Finally, CSat Investment Advisory L.P. grew its position in Avery Dennison by 60.8% during the fourth quarter. CSat Investment Advisory L.P. now owns 341 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 129 shares during the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

Several research analysts have recently issued reports on AVY shares. KeyCorp restated a “sector weight” rating and issued a $110.00 target price on shares of Avery Dennison in a report on Sunday, April 7th. Zacks Investment Research cut shares of Avery Dennison from a “buy” rating to a “hold” rating in a report on Monday, April 8th. JPMorgan Chase & Co. cut shares of Avery Dennison from a “neutral” rating to an “underweight” rating and set a $105.00 target price on the stock. in a report on Thursday, April 18th. Loop Capital cut shares of Avery Dennison from a “buy” rating to a “hold” rating in a report on Wednesday, March 20th. They noted that the move was a valuation call. Finally, BMO Capital Markets raised their target price on shares of Avery Dennison to $114.00 and gave the stock a “market perform” rating in a report on Monday, February 4th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $118.44.

In related news, VP Lori J. Bondar sold 8,444 shares of Avery Dennison stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $109.03, for a total value of $920,649.32. Following the sale, the vice president now owns 25,872 shares in the company, valued at $2,820,824.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Dean A. Scarborough sold 15,420 shares of Avery Dennison stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $109.07, for a total transaction of $1,681,859.40. Following the completion of the sale, the director now owns 29,151 shares in the company, valued at approximately $3,179,499.57. The disclosure for this sale can be found here. In the last quarter, insiders sold 238,328 shares of company stock worth $25,927,220. 1.30% of the stock is currently owned by company insiders.

Shares of Avery Dennison stock opened at $103.40 on Wednesday. The company has a current ratio of 1.14, a quick ratio of 0.80 and a debt-to-equity ratio of 1.77. Avery Dennison Corp has a 52-week low of $82.89 and a 52-week high of $117.00. The company has a market capitalization of $8.76 billion, a PE ratio of 17.06, a PEG ratio of 1.92 and a beta of 1.35.

Avery Dennison (NYSE:AVY) last issued its earnings results on Wednesday, April 24th. The industrial products company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.02. Avery Dennison had a net margin of 2.74% and a return on equity of 53.28%. The firm had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter last year, the business earned $1.44 earnings per share. The business’s revenue was down 2.0% on a year-over-year basis. As a group, analysts predict that Avery Dennison Corp will post 6.55 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Wednesday, June 5th will be issued a $0.58 dividend. This is a boost from Avery Dennison’s previous quarterly dividend of $0.52. The ex-dividend date is Tuesday, June 4th. This represents a $2.32 annualized dividend and a dividend yield of 2.24%. Avery Dennison’s dividend payout ratio (DPR) is currently 34.32%.

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Avery Dennison Profile

Avery Dennison Corporation produces and sells pressure-sensitive materials worldwide. The company's Label and Graphic Materials segment offers pressure-sensitive label and packaging materials; and graphics and reflective products under the Fasson, JAC, Avery Dennison, and Mactac brands, as well as durable cast and reflective films.

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Institutional Ownership by Quarter for Avery Dennison (NYSE:AVY)

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