Citizens Financial Group Inc RI Sells 2,204 Shares of Avery Dennison Corporation (AVY)

Citizens Financial Group Inc RI lowered its position in shares of Avery Dennison Corporation (NYSE:AVY) by 3.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 66,608 shares of the industrial products company’s stock after selling 2,204 shares during the quarter. Citizens Financial Group Inc RI owned 0.08% of Avery Dennison Corporation worth $5,886,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Nationwide Fund Advisors boosted its holdings in shares of Avery Dennison Corporation by 5.3% in the 1st quarter. Nationwide Fund Advisors now owns 25,318 shares of the industrial products company’s stock valued at $2,041,000 after buying an additional 1,279 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Avery Dennison Corporation by 5.4% in the 1st quarter. Russell Investments Group Ltd. now owns 51,004 shares of the industrial products company’s stock valued at $4,112,000 after buying an additional 2,631 shares during the last quarter. World Asset Management Inc boosted its holdings in shares of Avery Dennison Corporation by 19.9% in the 1st quarter. World Asset Management Inc now owns 10,169 shares of the industrial products company’s stock valued at $820,000 after buying an additional 1,688 shares during the last quarter. UBS Asset Management Americas Inc. boosted its holdings in shares of Avery Dennison Corporation by 16.0% in the 1st quarter. UBS Asset Management Americas Inc. now owns 475,128 shares of the industrial products company’s stock valued at $38,295,000 after buying an additional 65,645 shares during the last quarter. Finally, Karp Capital Management Corp acquired a new stake in shares of Avery Dennison Corporation in the 1st quarter valued at approximately $4,021,000. 87.76% of the stock is owned by hedge funds and other institutional investors.

AVY has been the subject of several recent analyst reports. Citigroup Inc. increased their price objective on Avery Dennison Corporation from $106.00 to $108.00 and gave the company a “buy” rating in a report on Wednesday, July 26th. Zacks Investment Research raised Avery Dennison Corporation from a “hold” rating to a “buy” rating and set a $93.00 price objective for the company in a report on Monday, May 22nd. Bank of America Corporation raised Avery Dennison Corporation from a “neutral” rating to a “buy” rating and increased their price objective for the company from $90.00 to $96.00 in a report on Tuesday, June 20th. Robert W. Baird reissued a “buy” rating and issued a $100.00 price objective on shares of Avery Dennison Corporation in a report on Friday, September 1st. Finally, BidaskClub downgraded Avery Dennison Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 9th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Avery Dennison Corporation currently has an average rating of “Buy” and an average target price of $92.86.

In other news, Director Patrick Siewert sold 10,000 shares of the company’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $93.63, for a total transaction of $936,300.00. Following the transaction, the director now owns 10,519 shares of the company’s stock, valued at approximately $984,893.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David E. I. Pyott sold 298 shares of the company’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $94.00, for a total value of $28,012.00. Following the transaction, the director now directly owns 16,601 shares in the company, valued at approximately $1,560,494. The disclosure for this sale can be found here. Insiders have sold a total of 12,298 shares of company stock worth $1,152,312 in the last ninety days. Insiders own 1.40% of the company’s stock.

Avery Dennison Corporation (AVY) traded up 0.972% during midday trading on Tuesday, reaching $95.095. The company had a trading volume of 140,932 shares. Avery Dennison Corporation has a 12-month low of $68.55 and a 12-month high of $96.70. The firm has a market capitalization of $8.41 billion, a price-to-earnings ratio of 22.339 and a beta of 1.18. The stock’s 50 day moving average is $93.25 and its 200 day moving average is $86.30.

Avery Dennison Corporation (NYSE:AVY) last posted its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.10. Avery Dennison Corporation had a return on equity of 39.29% and a net margin of 6.14%. The business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter in the previous year, the firm earned $1.09 earnings per share. The business’s revenue was up 5.7% on a year-over-year basis. Equities research analysts expect that Avery Dennison Corporation will post $4.82 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, September 6th will be given a dividend of $0.45 per share. The ex-dividend date is Friday, September 1st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.91%. Avery Dennison Corporation’s dividend payout ratio is presently 42.25%.

TRADEMARK VIOLATION NOTICE: “Citizens Financial Group Inc RI Sells 2,204 Shares of Avery Dennison Corporation (AVY)” was originally posted by Stock Observer and is the property of of Stock Observer. If you are viewing this piece on another site, it was illegally copied and republished in violation of United States and international copyright & trademark law. The correct version of this piece can be viewed at https://www.thestockobserver.com/2017/09/12/citizens-financial-group-inc-ri-sells-2204-shares-of-avery-dennison-corporation-avy.html.

Avery Dennison Corporation Profile

Avery Dennison Corporation (Avery Dennison) is engaged in the production of pressure-sensitive materials and a range of tickets, tags, labels and other converted products. The Company’s segments include Label and Graphic Materials (LGM); Retail Branding and Information Solutions (RBIS), and Industrial and Healthcare Materials (IHM).

Want to see what other hedge funds are holding AVY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Avery Dennison Corporation (NYSE:AVY).

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

Receive News & Ratings for Avery Dennison Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avery Dennison Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply