Pitcairn Co. boosted its position in shares of Avery Dennison Corp. (NYSE:AVY) by 85.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,789 shares of the company’s stock after buying an additional 4,504 shares during the period. Pitcairn Co.’s holdings in Avery Dennison Corp. were worth $732,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp increased its position in shares of Avery Dennison Corp. by 0.8% in the first quarter. State Street Corp now owns 4,023,834 shares of the company’s stock worth $290,162,000 after buying an additional 33,028 shares during the last quarter. Bank of Montreal Can acquired a new position in shares of Avery Dennison Corp. during the second quarter worth approximately $158,866,000. Goldman Sachs Group Inc. increased its position in shares of Avery Dennison Corp. by 36.0% in the first quarter. Goldman Sachs Group Inc. now owns 2,004,628 shares of the company’s stock worth $144,554,000 after buying an additional 531,095 shares during the last quarter. Norges Bank acquired a new position in shares of Avery Dennison Corp. during the fourth quarter worth approximately $56,921,000. Finally, Glenmede Trust Co. NA increased its position in shares of Avery Dennison Corp. by 8.4% in the first quarter. Glenmede Trust Co. NA now owns 871,613 shares of the company’s stock worth $62,850,000 after buying an additional 67,526 shares during the last quarter. Hedge funds and other institutional investors own 89.50% of the company’s stock.

Shares of Avery Dennison Corp. (NYSE:AVY) traded up 0.68% during mid-day trading on Wednesday, reaching $78.15. 423,164 shares of the company’s stock traded hands. Avery Dennison Corp. has a 12-month low of $55.29 and a 12-month high of $79.27. The company’s 50-day moving average price is $77.47 and its 200-day moving average price is $74.55. The stock has a market capitalization of $6.94 billion, a PE ratio of 23.29 and a beta of 1.01.

Avery Dennison Corp. (NYSE:AVY) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.08. Avery Dennison Corp. had a net margin of 5.18% and a return on equity of 34.82%. The business earned $1.54 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter in the prior year, the company posted $0.91 EPS. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. Analysts anticipate that Avery Dennison Corp. will post $3.94 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 21st. Stockholders of record on Wednesday, September 7th will be paid a $0.41 dividend. The ex-dividend date is Friday, September 2nd. This represents a $1.64 annualized dividend and a dividend yield of 2.10%. Avery Dennison Corp.’s dividend payout ratio (DPR) is 48.81%.

A number of research analysts recently commented on the stock. Zacks Investment Research raised shares of Avery Dennison Corp. from a “sell” rating to a “hold” rating and set a $88.00 price target for the company in a report on Thursday, July 28th. JPMorgan Chase & Co. increased their price target on shares of Avery Dennison Corp. from $78.00 to $80.00 and gave the company a “neutral” rating in a report on Wednesday, July 27th. Finally, Bank of America Corp. downgraded shares of Avery Dennison Corp. from a “buy” rating to an “underperform” rating and set a $75.00 price target for the company. in a report on Friday, July 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. Avery Dennison Corp. has a consensus rating of “Hold” and a consensus target price of $78.00.

In other news, VP Susan C. Miller sold 2,000 shares of the stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $73.31, for a total value of $146,620.00. Following the completion of the sale, the vice president now owns 8,518 shares of the company’s stock, valued at approximately $624,454.58. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Anne Hill sold 11,567 shares of the stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $78.10, for a total transaction of $903,382.70. Following the completion of the sale, the vice president now directly owns 36,280 shares of the company’s stock, valued at approximately $2,833,468. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by insiders.

About Avery Dennison Corp.

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 pressure-sensitive materials are sold to label printers and converters that convert the materials into labels and other products through embossing, printing, stamping and die-cutting.

5 Day Chart for NYSE:AVY

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 Corp. (NYSE:AVY).

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