Avery Dennison Corporation $AVY Stake Lessened by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lessened its stake in shares of Avery Dennison Corporation (NYSE:AVY) by 1.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 724,797 shares of the industrial products company’s stock after selling 8,729 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.95% of Avery Dennison worth $125,158,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in AVY. Empowered Funds LLC lifted its holdings in shares of Avery Dennison by 6.4% in the first quarter. Empowered Funds LLC now owns 13,534 shares of the industrial products company’s stock valued at $2,409,000 after buying an additional 819 shares during the period. Focus Partners Wealth grew its holdings in Avery Dennison by 7.6% during the first quarter. Focus Partners Wealth now owns 3,918 shares of the industrial products company’s stock worth $697,000 after acquiring an additional 278 shares during the period. Intech Investment Management LLC acquired a new position in Avery Dennison during the first quarter worth about $1,209,000. EverSource Wealth Advisors LLC raised its position in Avery Dennison by 164.6% in the second quarter. EverSource Wealth Advisors LLC now owns 389 shares of the industrial products company’s stock worth $68,000 after acquiring an additional 242 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in Avery Dennison in the second quarter worth about $241,000. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Avery Dennison Price Performance

NYSE AVY opened at $169.14 on Wednesday. The stock’s 50-day moving average price is $159.96 and its two-hundred day moving average price is $171.46. The company has a current ratio of 1.15, a quick ratio of 0.80 and a debt-to-equity ratio of 1.38. The company has a market cap of $12.94 billion, a PE ratio of 19.07, a PEG ratio of 2.90 and a beta of 0.82. Avery Dennison Corporation has a 1 year low of $152.42 and a 1 year high of $199.54.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings data on Tuesday, April 28th. The industrial products company reported $2.47 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.06. The company had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.26 billion. Avery Dennison had a net margin of 7.66% and a return on equity of 33.69%. The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.30 earnings per share. On average, analysts predict that Avery Dennison Corporation will post 10 EPS for the current year.

Avery Dennison Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, September 2nd will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Wednesday, September 2nd. Avery Dennison’s dividend payout ratio is 45.10%.

Analysts Set New Price Targets

AVY has been the subject of several research reports. Argus set a $175.00 price objective on shares of Avery Dennison in a research report on Thursday, June 4th. Bank of America increased their target price on shares of Avery Dennison from $202.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Truist Financial reduced their target price on shares of Avery Dennison from $221.00 to $209.00 and set a “buy” rating for the company in a report on Wednesday, July 15th. UBS Group decreased their price target on shares of Avery Dennison from $226.00 to $222.00 and set a “buy” rating on the stock in a research report on Friday, April 10th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Avery Dennison in a research report on Wednesday, April 1st. They set a “buy” rating and a $200.00 price objective for the company. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $200.11.

Avery Dennison Company 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.