Boston Trust Walden Corp lowered its stake in Avery Dennison Corporation (NYSE:AVY – Free Report) by 1.1% in the 1st quarter, Holdings Channel reports. The firm owned 323,775 shares of the industrial products company’s stock after selling 3,648 shares during the quarter. Boston Trust Walden Corp’s holdings in Avery Dennison were worth $55,910,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of AVY. Vanguard Group Inc. lifted its holdings in shares of Avery Dennison by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 10,448,799 shares of the industrial products company’s stock worth $1,900,428,000 after buying an additional 69,662 shares in the last quarter. Wellington Management Group LLP grew its stake in Avery Dennison by 12.5% during the third quarter. Wellington Management Group LLP now owns 5,808,960 shares of the industrial products company’s stock valued at $942,039,000 after acquiring an additional 644,664 shares in the last quarter. Morgan Stanley grew its stake in Avery Dennison by 20.1% during the fourth quarter. Morgan Stanley now owns 3,869,889 shares of the industrial products company’s stock valued at $703,856,000 after acquiring an additional 647,795 shares in the last quarter. State Street Corp increased its holdings in Avery Dennison by 0.9% during the 4th quarter. State Street Corp now owns 3,701,598 shares of the industrial products company’s stock worth $673,247,000 after acquiring an additional 34,124 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in Avery Dennison by 30.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,841,191 shares of the industrial products company’s stock worth $298,613,000 after acquiring an additional 435,156 shares during the period. 94.17% of the stock is currently owned by institutional investors.
Avery Dennison Price Performance
AVY stock opened at $166.82 on Friday. The firm has a 50 day simple moving average of $160.59 and a two-hundred day simple moving average of $174.18. The stock has a market cap of $12.76 billion, a PE ratio of 18.81, a P/E/G ratio of 2.82 and a beta of 0.82. Avery Dennison Corporation has a one year low of $152.42 and a one year high of $199.54. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.15 and a quick ratio of 0.80.
Avery Dennison Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.4%. This is an increase from Avery Dennison’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend was Wednesday, June 3rd. Avery Dennison’s dividend payout ratio is presently 45.10%.
Analyst Upgrades and Downgrades
Several research analysts have commented on the stock. Truist Financial reissued a “buy” rating and issued a $221.00 price target (down from $223.00) on shares of Avery Dennison in a report on Wednesday, April 29th. JPMorgan Chase & Co. decreased their price target on shares of Avery Dennison from $205.00 to $185.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. UBS Group lowered their price objective on Avery Dennison from $226.00 to $222.00 and set a “buy” rating on the stock in a research report on Friday, April 10th. Citigroup dropped their price objective on Avery Dennison from $190.00 to $185.00 and set a “neutral” rating for the company in a research note on Thursday, April 30th. Finally, Raymond James Financial set a $192.00 target price on Avery Dennison in a research note on Tuesday, April 21st. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $201.33.
Check Out Our Latest Research Report on Avery Dennison
Avery Dennison Profile
Avery Dennison (NYSE:AVY) is a global materials science and manufacturing company specializing in labeling and packaging solutions. The company develops pressure-sensitive materials, tags and labels, and adhesive technologies that help brands and businesses enhance product identification, branding and supply-chain performance. Avery Dennison’s offerings range from industrial and retail labeling to high-performance tapes, films and graphics materials used across multiple end markets.
The company operates through several key segments, including Label and Graphic Materials, which supplies pressure-sensitive materials for consumer goods; Retail Branding and Information Solutions, offering apparel tags, RFID inlays and digital product identification; Pressure-Sensitive Materials, providing specialty tapes and adhesives; and RF Technologies, focused on advanced RFID and IoT labeling solutions.
Featured Articles
- Five stocks we like better than Avery Dennison
- Shorting the Grid: Bloom Energy’s $25B AI Power Play
- SanDisk’s Volatility May Be Telling Bulls What They Want to Hear
- Meta’s AI Compute Push Could Turn Its Massive CapEx Bill Into a Competitive Weapon
- 3 Dividend ETFs Built for Stability in a Volatile Market
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 Corporation (NYSE:AVY – Free Report).
Receive News & Ratings for Avery Dennison Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avery Dennison and related companies with MarketBeat.com's FREE daily email newsletter.
