Avery Dennison Co. (NYSE:AVY) Shares Bought by USA Financial Formulas

USA Financial Formulas raised its position in Avery Dennison Co. (NYSE:AVY) by 50.2% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 945 shares of the industrial products company’s stock after buying an additional 316 shares during the quarter. USA Financial Formulas’ holdings in Avery Dennison were worth $168,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Avery Dennison by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 9,681,709 shares of the industrial products company’s stock valued at $1,811,738,000 after buying an additional 33,149 shares during the period. T. Rowe Price Investment Management Inc. increased its stake in Avery Dennison by 3.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,225,309 shares of the industrial products company’s stock valued at $790,683,000 after buying an additional 150,572 shares during the period. Ameriprise Financial Inc. increased its stake in Avery Dennison by 12.9% in the 4th quarter. Ameriprise Financial Inc. now owns 2,185,732 shares of the industrial products company’s stock valued at $409,014,000 after buying an additional 250,359 shares during the period. Geode Capital Management LLC increased its stake in Avery Dennison by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 2,102,331 shares of the industrial products company’s stock valued at $392,445,000 after buying an additional 13,815 shares during the period. Finally, Lazard Asset Management LLC increased its stake in Avery Dennison by 4.0% in the 4th quarter. Lazard Asset Management LLC now owns 1,841,520 shares of the industrial products company’s stock valued at $344,603,000 after buying an additional 71,435 shares during the period. 94.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AVY has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of Avery Dennison from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Truist Financial lowered their price target on shares of Avery Dennison from $215.00 to $210.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. Argus cut shares of Avery Dennison from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 12th. Raymond James lowered their price target on shares of Avery Dennison from $208.00 to $194.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 22nd. Finally, Jefferies Financial Group initiated coverage on shares of Avery Dennison in a research note on Tuesday, April 22nd. They set a “hold” rating and a $175.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $206.60.

Avery Dennison Price Performance

Avery Dennison stock opened at $177.30 on Thursday. Avery Dennison Co. has a 52 week low of $157.00 and a 52 week high of $233.48. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10. The firm’s 50-day simple moving average is $174.43 and its 200 day simple moving average is $182.91. The firm has a market capitalization of $13.86 billion, a PE ratio of 20.33, a P/E/G ratio of 2.07 and a beta of 0.88.

Avery Dennison (NYSE:AVY) last released its quarterly earnings data on Wednesday, April 23rd. The industrial products company reported $2.30 EPS for the quarter, missing the consensus estimate of $2.32 by ($0.02). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. The business had revenue of $2.15 billion during the quarter, compared to analysts’ expectations of $2.15 billion. During the same quarter in the prior year, the firm earned $2.29 earnings per share. Avery Dennison’s quarterly revenue was down .1% on a year-over-year basis. On average, equities research analysts predict that Avery Dennison Co. will post 9.96 EPS for the current fiscal year.

Avery Dennison Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be given a $0.94 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This is a positive change from Avery Dennison’s previous quarterly dividend of $0.88. This represents a $3.76 annualized dividend and a dividend yield of 2.12%. Avery Dennison’s payout ratio is currently 43.32%.

Avery Dennison Profile

Avery Dennison Corporation operates as a materials science and digital identification solutions company in the United States, Europe, the Middle East, North Africa, Asia, Latin, America, and internationally. It provides pressure-sensitive materials comprising papers, plastic films, metal foils, and fabrics; performance tapes products, including tapes for wire harnessing, as well as cable wrapping for automotive, electrical, and general industrial applications; mechanical fasteners, which are precision-extruded and injection-molded plastic devices used in various automotive, general industrial, and retail applications; and other pressure-sensitive adhesive-based materials and converted products under the Fasson, JAC, Yongle, and Avery Dennison brands.