Anchor Capital Advisors Lowers stake in Avery Dennison Corp (AVY)

Avery Dennison Corp (AVY) : Anchor Capital Advisors reduced its stake in Avery Dennison Corp by 2.87% during the most recent quarter end. The investment management company now holds a total of 522,901 shares of Avery Dennison Corp which is valued at $40,388,873 after selling 15,467 shares in Avery Dennison Corp , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Avery Dennison Corp makes up approximately 1.04% of Anchor Capital Advisors’s portfolio.

Other Hedge Funds, Including , Bank Of Hawaii boosted its stake in AVY in the latest quarter, The investment management firm added 230 additional shares and now holds a total of 11,585 shares of Avery Dennison Corp which is valued at $894,825. Avery Dennison Corp makes up approx 0.09% of Bank Of Hawaii’s portfolio.American Century Companies Inc reduced its stake in AVY by selling 165,583 shares or 25.83% in the most recent quarter. The Hedge Fund company now holds 475,402 shares of AVY which is valued at $37,342,827. Avery Dennison Corp makes up approx 0.04% of American Century Companies Inc’s portfolio.New York State Teachers Retirement System reduced its stake in AVY by selling 3,324 shares or 2.05% in the most recent quarter. The Hedge Fund company now holds 158,591 shares of AVY which is valued at $11,513,707. Avery Dennison Corp makes up approx 0.03% of New York State Teachers Retirement System’s portfolio.Cibc World Markets reduced its stake in AVY by selling 5,461 shares or 26.1% in the most recent quarter. The Hedge Fund company now holds 15,460 shares of AVY which is valued at $1,122,396.Churchill Management Corp reduced its stake in AVY by selling 5,704 shares or 10.35% in the most recent quarter. The Hedge Fund company now holds 49,402 shares of AVY which is valued at $3,621,167. Avery Dennison Corp makes up approx 0.23% of Churchill Management Corp’s portfolio.

Avery Dennison Corp opened for trading at $77.43 and hit $77.88 on the upside on Thursday, eventually ending the session at $77.39, with a gain of 0.19% or 0.15 points. The heightened volatility saw the trading volume jump to 4,30,896 shares. Company has a market cap of $6,901 M.

On the company’s financial health, Avery Dennison Corp reported $1.09 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Jul 26, 2016. Analyst had a consensus of $1.01. The company had revenue of $1541.50 million for the quarter, compared to analysts expectations of $1539.48 million. The company’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.91 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.

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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