F&v Capital Management Lowers stake in Avery Dennison Corp (AVY)

Avery Dennison Corp (AVY) : F&v Capital Management reduced its stake in Avery Dennison Corp by 2.81% during the most recent quarter end. The investment management company now holds a total of 50,530 shares of Avery Dennison Corp which is valued at $3,703,849 after selling 1,460 shares in Avery Dennison Corp , the firm said in a disclosure report filed with the SEC on Jul 8, 2016.Avery Dennison Corp makes up approximately 2.70% of F&v Capital Management’s portfolio.

Other Hedge Funds, Including , Washington Trust Bank boosted its stake in AVY in the latest quarter, The investment management firm added 290 additional shares and now holds a total of 407 shares of Avery Dennison Corp which is valued at $29,833. Avery Dennison Corp makes up approx 0.01% of Washington Trust Bank’s portfolio.Curian Capital reduced its stake in AVY by selling 14,423 shares or 65.52% in the most recent quarter. The Hedge Fund company now holds 7,589 shares of AVY which is valued at $556,274. Avery Dennison Corp makes up approx 0.04% of Curian Capital’s portfolio.

Avery Dennison Corp opened for trading at $73.32 and hit $73.77 on the upside on Wednesday, eventually ending the session at $73.18, with a gain of 0.30% or 0.22 points. The heightened volatility saw the trading volume jump to 8,46,330 shares. Company has a market cap of $6,526 M.

On the company’s financial health, Avery Dennison Corp reported $0.94 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $0.86. The company had revenue of $1485.50 million for the quarter, compared to analysts expectations of $1508.36 million. The company’s revenue was down -2.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.81 EPS.

Many Wall Street Analysts have commented on Avery Dennison Corp. Avery Dennison Corp was Downgraded by BofA/Merrill to ” Underperform” on Jul 1, 2016. Avery Dennison Corp was Downgraded by JP Morgan to ” Neutral” on May 20, 2016. Company shares were Reiterated by Barclays on May 2, 2016 to “Overweight”, Firm has raised the Price Target to $ 86 from a previous price target of $82 .

Avery Dennison Corporation is engaged in the production of pressure-sensitive materials and a variety 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. It also sells pressure-sensitive materials in converted form as tapes and reflective sheeting. The Company also manufactures and sells a variety of other converted products and items not involving pressure-sensitive components such as fasteners tickets tags radio-frequency identification (RFID) inlays and tags and imprinting equipment and related services which it markets to retailers and apparel manufacturers and brand owners. The Company’s operational segments include Pressure-sensitive Materials (PSM) Retail Branding and Information Solutions (RBIS) and Vancive Medical Technologies (Vancive).

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