1832 Asset Management L.P. Trims Stake in 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. reduced its stake in Avery Dennison Corporation (NYSE:AVY - Free Report) by 91.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in AVY. Bayforest Capital Ltd purchased a new stake in shares of Avery Dennison in the first quarter worth $27,000. SouthState Corp raised its position in shares of Avery Dennison by 195.7% in the first quarter. SouthState Corp now owns 207 shares of the industrial products company's stock worth $37,000 after buying an additional 137 shares in the last quarter. Costello Asset Management INC purchased a new stake in shares of Avery Dennison in the first quarter worth $40,000. American National Bank & Trust purchased a new stake in shares of Avery Dennison in the first quarter worth $49,000. Finally, Grove Bank & Trust raised its position in shares of Avery Dennison by 17.7% in the first quarter. Grove Bank & Trust now owns 393 shares of the industrial products company's stock worth $70,000 after buying an additional 59 shares in the last quarter. 94.17% of the stock is owned by institutional investors.

Avery Dennison Stock Performance

AVY traded up $0.43 during mid-day trading on Friday, reaching $171.51. 486,904 shares of the company traded hands, compared to its average volume of 605,588. Avery Dennison Corporation has a 52-week low of $157.00 and a 52-week high of $224.38. The company's fifty day moving average price is $176.21 and its 200-day moving average price is $176.71. The company has a quick ratio of 0.70, a current ratio of 1.04 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $13.37 billion, a P/E ratio of 19.25, a P/E/G ratio of 2.64 and a beta of 0.88.

Avery Dennison (NYSE:AVY - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The industrial products company reported $2.42 earnings per share (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 firm had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.23 billion. During the same quarter in the previous year, the firm posted $2.42 EPS. The company's revenue for the quarter was down .7% compared to the same quarter last year. Avery Dennison has set its Q3 2025 guidance at 2.240-2.40 EPS. On average, sell-side analysts expect that Avery Dennison Corporation will post 9.96 EPS for the current year.

Avery Dennison Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on AVY. Argus downgraded Avery Dennison from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 12th. JPMorgan Chase & Co. raised their target price on Avery Dennison from $172.00 to $182.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Bank of America raised their target price on Avery Dennison from $195.00 to $208.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Citigroup lifted their price objective on Avery Dennison from $177.00 to $185.00 and gave the company a "neutral" rating in a research report on Friday, July 11th. Finally, Wall Street Zen upgraded shares of Avery Dennison from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Six equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Avery Dennison currently has a consensus rating of "Moderate Buy" and a consensus price target of $197.60.

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.