Cynosure Group LLC Has $378,000 Stock Holdings in Avery Dennison Co. (NYSE:AVY)

Cynosure Group LLC grew its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 3.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,712 shares of the industrial products company’s stock after buying an additional 59 shares during the quarter. Cynosure Group LLC’s holdings in Avery Dennison were worth $378,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Innealta Capital LLC bought a new stake in Avery Dennison during the 2nd quarter worth approximately $28,000. Larson Financial Group LLC grew its holdings in Avery Dennison by 100.0% during the third quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock worth $31,000 after buying an additional 71 shares in the last quarter. Kennebec Savings Bank purchased a new stake in Avery Dennison in the 3rd quarter valued at $36,000. Peterson Financial Group Inc. bought a new position in Avery Dennison during the 3rd quarter valued at $39,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Avery Dennison during the 2nd quarter worth $42,000. 94.17% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AVY has been the subject of several analyst reports. StockNews.com downgraded shares of Avery Dennison from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. cut shares of Avery Dennison from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $230.00 to $210.00 in a research report on Thursday, October 24th. Citigroup reduced their target price on Avery Dennison from $241.00 to $240.00 and set a “neutral” rating for the company in a report on Wednesday, October 2nd. Barclays decreased their price target on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating for the company in a research report on Monday, October 28th. Finally, Bank of America upgraded Avery Dennison from an “underperform” rating to a “buy” rating and upped their price objective for the company from $207.00 to $250.00 in a research note on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Avery Dennison currently has a consensus rating of “Moderate Buy” and a consensus price target of $244.96.

Insider Activity at Avery Dennison

In related news, SVP Nicholas Colisto sold 3,679 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $206.00, for a total transaction of $757,874.00. Following the sale, the senior vice president now owns 7,126 shares of the company’s stock, valued at approximately $1,467,956. This represents a 34.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Avery Dennison Trading Up 0.3 %

Shares of Avery Dennison stock opened at $205.15 on Friday. The stock has a market capitalization of $16.48 billion, a P/E ratio of 24.63, a P/E/G ratio of 1.60 and a beta of 0.89. Avery Dennison Co. has a 52-week low of $188.92 and a 52-week high of $233.48. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.92. The stock’s 50-day simple moving average is $209.91 and its 200 day simple moving average is $216.25.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.01. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.20 billion. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.10 earnings per share. As a group, research analysts anticipate that Avery Dennison Co. will post 9.42 EPS for the current year.

Avery Dennison Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend is Wednesday, December 4th. Avery Dennison’s dividend payout ratio (DPR) is presently 42.26%.

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.