MAI Capital Management reduced its position in Avery Dennison Co. (NYSE:AVY – Free Report) by 5.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,299 shares of the industrial products company’s stock after selling 78 shares during the period. MAI Capital Management’s holdings in Avery Dennison were worth $232,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. SouthState Corp boosted its holdings in shares of Avery Dennison by 130.0% during the first quarter. SouthState Corp now owns 138 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 78 shares during the period. Belpointe Asset Management LLC acquired a new stake in shares of Avery Dennison during the fourth quarter worth approximately $30,000. Eagle Bay Advisors LLC acquired a new stake in shares of Avery Dennison during the second quarter worth approximately $33,000. Spire Wealth Management boosted its holdings in shares of Avery Dennison by 98.4% during the fourth quarter. Spire Wealth Management now owns 246 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 122 shares during the period. Finally, ICA Group Wealth Management LLC acquired a new stake in shares of Avery Dennison during the fourth quarter worth approximately $44,000. 90.27% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research firms recently commented on AVY. Loop Capital decreased their price target on shares of Avery Dennison from $208.00 to $201.00 in a report on Thursday, June 8th. Citigroup lifted their target price on shares of Avery Dennison from $200.00 to $205.00 in a research note on Wednesday, July 26th. StockNews.com assumed coverage on shares of Avery Dennison in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Truist Financial reduced their target price on shares of Avery Dennison from $219.00 to $215.00 in a research note on Wednesday, July 26th. Finally, Argus reduced their target price on shares of Avery Dennison from $220.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday, July 26th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $205.00.
Avery Dennison Price Performance
Shares of Avery Dennison stock opened at $181.58 on Friday. The firm has a fifty day simple moving average of $177.12 and a 200-day simple moving average of $175.08. The company has a current ratio of 1.09, a quick ratio of 0.71 and a debt-to-equity ratio of 1.44. Avery Dennison Co. has a 1-year low of $157.28 and a 1-year high of $196.34. The stock has a market capitalization of $14.63 billion, a price-to-earnings ratio of 26.16, a PEG ratio of 3.14 and a beta of 0.95.
Avery Dennison (NYSE:AVY – Get Free Report) last announced its earnings results on Tuesday, July 25th. The industrial products company reported $1.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.13). Avery Dennison had a return on equity of 31.13% and a net margin of 6.66%. The company had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.17 billion. During the same period last year, the firm posted $2.64 EPS. The company’s revenue was down 10.9% compared to the same quarter last year. On average, sell-side analysts expect that Avery Dennison Co. will post 8.04 earnings per share for the current year.
Avery Dennison Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, September 6th will be given a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date is Tuesday, September 5th. Avery Dennison’s dividend payout ratio (DPR) is currently 46.69%.
Insider Buying and Selling
In related news, insider Francisco Melo sold 4,800 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $186.00, for a total transaction of $892,800.00. Following the transaction, the insider now owns 16,905 shares of the company’s stock, valued at $3,144,330. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.10% of the stock is currently owned by insiders.
Avery Dennison Company Profile
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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