Vestmark Advisory Solutions Inc. Sells 225 Shares of Avery Dennison Co. (NYSE:AVY)

Posted by on Aug 18th, 2023

Vestmark Advisory Solutions Inc. lessened its holdings in Avery Dennison Co. (NYSE:AVY – Free Report) by 10.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,884 shares of the industrial products company’s stock after selling 225 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Avery Dennison were worth $337,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. SouthState Corp grew its stake in Avery Dennison by 130.0% in the 1st quarter. SouthState Corp now owns 138 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 78 shares during the period. Belpointe Asset Management LLC bought a new position in shares of Avery Dennison during the 4th quarter worth $30,000. Eagle Bay Advisors LLC bought a new position in shares of Avery Dennison during the 2nd quarter worth $33,000. Spire Wealth Management grew its stake in shares of Avery Dennison by 98.4% during the 4th quarter. Spire Wealth Management now owns 246 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 122 shares during the period. Finally, ICA Group Wealth Management LLC bought a new position in shares of Avery Dennison during the 4th quarter worth $44,000. Institutional investors own 90.27% of the company’s stock.

Avery Dennison Stock Performance

NYSE:AVY opened at $177.31 on Friday. The business’s 50-day moving average price is $175.66 and its two-hundred day moving average price is $175.35. Avery Dennison Co. has a twelve month low of $157.28 and a twelve month high of $201.00. The stock has a market cap of $14.29 billion, a P/E ratio of 25.55, a PEG ratio of 3.20 and a beta of 0.95. The company has a quick ratio of 0.71, a current ratio of 1.09 and a debt-to-equity ratio of 1.44.

Avery Dennison (NYSE:AVY – Get Free Report) last released its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.92 earnings per share for the quarter, missing the consensus estimate of $2.05 by ($0.13). Avery Dennison had a net margin of 6.66% and a return on equity of 31.13%. The business had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.17 billion. During the same period in the previous year, the business earned $2.64 EPS. The business’s revenue was down 10.9% on a year-over-year basis. As a group, equities analysts predict that Avery Dennison Co. will post 8.04 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, September 6th will be issued a dividend of $0.81 per share. The ex-dividend date is Tuesday, September 5th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 1.83%. Avery Dennison’s dividend payout ratio is 46.69%.

Insider Activity at Avery Dennison

In related news, insider Francisco Melo sold 4,800 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $186.00, for a total transaction of $892,800.00. Following the transaction, the insider now directly owns 16,905 shares of the company’s stock, valued at approximately $3,144,330. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on AVY shares. Bank of America cut their price target on Avery Dennison from $207.00 to $189.00 in a research note on Monday, July 10th. StockNews.com started coverage on Avery Dennison in a research note on Thursday. They set a “hold” rating for the company. Argus dropped their price objective on Avery Dennison from $220.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, July 26th. Truist Financial dropped their price objective on Avery Dennison from $219.00 to $215.00 in a report on Wednesday, July 26th. Finally, Loop Capital dropped their price objective on Avery Dennison from $208.00 to $201.00 in a report on Thursday, June 8th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Avery Dennison currently has an average rating of “Moderate Buy” and an average price target of $202.11.

Read Our Latest Report on AVY

Avery Dennison Company Profile

(Free Report)

Avery Dennison Corporation operates as materials science and digital identification solutions company. It provides branding and information labeling solutions, including pressure-sensitive materials, radio-frequency identification (RFID) inlays and tags, and various converted products and solutions. The company designs and manufactures a range of labeling and functional materials that enhance branded packaging, carry or display information that connects the physical and the digital, and improve customers' product performance.

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

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