Wealthquest Corp Acquires New Stake in Avery Dennison Corporation (NYSE:AVY)

Wealthquest Corp bought a new position in Avery Dennison Corporation (NYSE:AVY - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 177,241 shares of the industrial products company's stock, valued at approximately $31,544,000. Avery Dennison comprises approximately 3.0% of Wealthquest Corp's holdings, making the stock its 8th biggest holding. Wealthquest Corp owned 0.23% of Avery Dennison as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of AVY. Vanguard Group Inc. lifted its stake in shares of 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 acquiring an additional 33,149 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its position in Avery Dennison by 3.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,225,309 shares of the industrial products company's stock worth $790,683,000 after acquiring an additional 150,572 shares during the last quarter. 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 worth $409,014,000 after purchasing an additional 250,359 shares during the period. Geode Capital Management LLC lifted its position in Avery Dennison by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 2,102,331 shares of the industrial products company's stock valued at $392,445,000 after purchasing an additional 13,815 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its position in Avery Dennison by 4.0% in the fourth quarter. Lazard Asset Management LLC now owns 1,841,520 shares of the industrial products company's stock valued at $344,603,000 after purchasing an additional 71,435 shares during the last quarter. Hedge funds and other institutional investors own 94.17% of the company's stock.

Avery Dennison Stock Down 0.4%

AVY traded down $0.67 on Thursday, hitting $175.93. The company had a trading volume of 875,013 shares, compared to its average volume of 636,918. The stock has a fifty day simple moving average of $176.33 and a 200-day simple moving average of $180.93. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.03 and a quick ratio of 0.68. The firm has a market capitalization of $13.75 billion, a P/E ratio of 20.27, a P/E/G ratio of 2.87 and a beta of 0.88. Avery Dennison Corporation has a 52-week low of $157.00 and a 52-week high of $233.48.

Avery Dennison (NYSE:AVY - Get Free Report) last released its earnings results on Wednesday, April 23rd. The industrial products company reported $2.30 EPS for the quarter, missing analysts' consensus estimates of $2.32 by ($0.02). The firm had revenue of $2.15 billion during the quarter, compared to analysts' expectations of $2.15 billion. Avery Dennison had a net margin of 7.98% and a return on equity of 33.11%. The company's revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.29 EPS. As a group, equities analysts expect that Avery Dennison Corporation will post 9.96 EPS for the current fiscal year.

Avery Dennison Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 2.14%. This is a positive change from Avery Dennison's previous quarterly dividend of $0.88. The ex-dividend date was Wednesday, June 4th. Avery Dennison's dividend payout ratio (DPR) is presently 43.32%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on AVY shares. Barclays cut their target price on shares of Avery Dennison from $225.00 to $210.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. UBS Group cut their price target on shares of Avery Dennison from $207.00 to $189.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. Raymond James Financial decreased their price objective on shares of Avery Dennison from $208.00 to $194.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. Wall Street Zen upgraded shares of Avery Dennison from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, Argus downgraded Avery Dennison from a "strong-buy" rating to a "hold" rating in a report on Monday, May 12th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Avery Dennison presently has a consensus rating of "Moderate Buy" and a consensus price target of $206.60.

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.