Avery Dennison Corporation (NYSE:AVY) Shares Sold by Middleton & Co. Inc. MA

Middleton & Co. Inc. MA reduced its position in Avery Dennison Corporation (NYSE:AVY) by 10.6% in the 1st quarter, HoldingsChannel.com reports. The firm owned 5,700 shares of the industrial products company’s stock after selling 675 shares during the quarter. Middleton & Co. Inc. MA’s holdings in Avery Dennison were worth $1,014,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. UNIVEST FINANCIAL Corp raised its position in shares of Avery Dennison by 22.4% in the first quarter. UNIVEST FINANCIAL Corp now owns 4,257 shares of the industrial products company’s stock worth $758,000 after acquiring an additional 780 shares during the period. Baker Avenue Asset Management LP grew its position in shares of Avery Dennison by 52.6% during the 1st quarter. Baker Avenue Asset Management LP now owns 1,679 shares of the industrial products company’s stock valued at $299,000 after acquiring an additional 579 shares during the period. Blueshift Asset Management LLC purchased a new position in shares of Avery Dennison in the 1st quarter valued at about $277,000. Commerce Bank raised its holdings in Avery Dennison by 10.7% in the 1st quarter. Commerce Bank now owns 14,324 shares of the industrial products company’s stock worth $2,549,000 after purchasing an additional 1,388 shares during the period. Finally, Jefferies Financial Group Inc. boosted its position in Avery Dennison by 67.1% during the first quarter. Jefferies Financial Group Inc. now owns 4,846 shares of the industrial products company’s stock worth $862,000 after purchasing an additional 1,946 shares in the last quarter. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on AVY shares. Truist Financial cut their price objective on Avery Dennison from $215.00 to $210.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Bank of America lifted their price target on shares of Avery Dennison from $195.00 to $208.00 and gave the company a “buy” rating in a research note on Wednesday, July 9th. Robert W. Baird reduced their price objective on shares of Avery Dennison from $220.00 to $210.00 and set an “outperform” rating for the company in a research report on Thursday, April 24th. Raymond James Financial lifted their target price on shares of Avery Dennison from $194.00 to $200.00 and gave the company an “outperform” rating in a research report on Tuesday, July 15th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $207.00 target price (down previously from $216.00) on shares of Avery Dennison in a research note on Wednesday, July 23rd. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $197.60.

Avery Dennison Stock Performance

NYSE:AVY opened at $167.35 on Tuesday. The company has a market cap of $13.05 billion, a P/E ratio of 18.78, a P/E/G ratio of 2.55 and a beta of 0.88. Avery Dennison Corporation has a twelve month low of $157.00 and a twelve month high of $224.38. The company’s 50-day moving average price is $177.95 and its 200-day moving average price is $178.57. The company has a current ratio of 1.04, a quick ratio of 0.70 and a debt-to-equity ratio of 1.19.

Avery Dennison (NYSE:AVY) last released its quarterly earnings data on Tuesday, July 22nd. The industrial products company reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $2.38 by $0.04. The company had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.23 billion. Avery Dennison had a net margin of 8.14% and a return on equity of 33.14%. Avery Dennison’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.42 EPS. On average, sell-side analysts forecast that Avery Dennison Corporation will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 2.2%. The ex-dividend date is Wednesday, September 3rd. Avery Dennison’s dividend payout ratio is presently 42.20%.

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.