1832 Asset Management L.P. Sells 173,898 Shares of Avery Dennison Corporation $AVY

Key Points

• 1832 Asset Management L.P. significantly reduced its stake in Avery Dennison Corporation by 91.4%, selling 173,898 shares and leaving it with just 16,395 shares valued at approximately $2.9 million.
• Avery Dennison recently reported quarterly earnings of $2.42 per share, exceeding analysts' expectations, but experienced a 0.7% decline in revenue year-over-year, totaling $2.22 billion.
• The company announced a quarterly dividend of $0.94 per share, scheduled for payment on September 17, representing a 2.1% yield with a payout ratio of 42.20%.

1832 Asset Management L.P. decreased its position in shares of Avery Dennison Corporation (NYSE:AVY - Free Report) by 91.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,395 shares of the industrial products company's stock after selling 173,898 shares during the period. 1832 Asset Management L.P.'s holdings in Avery Dennison were worth $2,918,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Baker Avenue Asset Management LP increased its stake in shares of Avery Dennison by 5.7% in the 4th quarter. Baker Avenue Asset Management LP now owns 1,100 shares of the industrial products company's stock valued at $206,000 after purchasing an additional 59 shares during the last quarter. Grove Bank & Trust boosted its stake in Avery Dennison by 17.7% in the first quarter. Grove Bank & Trust now owns 393 shares of the industrial products company's stock valued at $70,000 after buying an additional 59 shares in the last quarter. Forum Financial Management LP grew its position in Avery Dennison by 5.6% in the first quarter. Forum Financial Management LP now owns 1,384 shares of the industrial products company's stock valued at $246,000 after acquiring an additional 73 shares during the last quarter. Brown Advisory Inc. grew its position in Avery Dennison by 3.6% in the first quarter. Brown Advisory Inc. now owns 2,169 shares of the industrial products company's stock valued at $386,000 after acquiring an additional 76 shares during the last quarter. Finally, Figure 8 Investment Strategies LLC raised its stake in Avery Dennison by 1.1% during the first quarter. Figure 8 Investment Strategies LLC now owns 7,889 shares of the industrial products company's stock worth $1,404,000 after acquiring an additional 83 shares in the last quarter. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Avery Dennison Trading Down 1.3%

NYSE:AVY traded down $2.23 on Thursday, reaching $171.03. 452,273 shares of the stock traded hands, compared to its average volume of 739,014. 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 Corporation has a 1-year low of $157.00 and a 1-year high of $224.38. The company's 50 day moving average is $176.35 and its 200-day moving average is $176.87. The firm has a market capitalization of $13.34 billion, a price-to-earnings ratio of 19.20, a price-to-earnings-growth ratio of 2.66 and a beta of 0.88.

Avery Dennison (NYSE:AVY - Get Free Report) last posted 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. Avery Dennison had a net margin of 8.14% and a return on equity of 33.14%. The company had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.23 billion. During the same period in the prior year, the firm posted $2.42 EPS. The company's quarterly revenue was down .7% on a year-over-year basis. Avery Dennison has set its Q3 2025 guidance at 2.240-2.40 EPS. Equities research analysts anticipate that Avery Dennison Corporation will post 9.96 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd will be given a $0.94 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $3.76 annualized dividend and a yield of 2.2%. Avery Dennison's dividend payout ratio (DPR) is presently 42.20%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AVY. BMO Capital Markets reaffirmed an "outperform" rating and set a $207.00 price target (down from $216.00) on shares of Avery Dennison in a report on Wednesday, July 23rd. Raymond James Financial upped their price target on shares of Avery Dennison from $194.00 to $200.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. JPMorgan Chase & Co. increased their price target on Avery Dennison from $172.00 to $182.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Bank of America boosted their price objective on Avery Dennison from $195.00 to $208.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Finally, Citigroup upped their target price on Avery Dennison from $177.00 to $185.00 and gave the stock a "neutral" rating in a report on Friday, July 11th. Six equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $197.60.

Avery Dennison Company 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.