Aaron Wealth Advisors LLC Purchases Shares of 1,499 Avery Dennison Corporation (NYSE:AVY)

Aaron Wealth Advisors LLC purchased a new stake in shares of Avery Dennison Corporation (NYSE:AVY - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 1,499 shares of the industrial products company's stock, valued at approximately $267,000.

Several other large investors have also modified their holdings of AVY. American National Bank & Trust acquired a new position in shares of Avery Dennison in the 1st quarter worth approximately $49,000. Grove Bank & Trust raised its holdings in Avery Dennison by 17.7% in the 1st quarter. Grove Bank & Trust now owns 393 shares of the industrial products company's stock valued at $70,000 after acquiring an additional 59 shares during the period. Assetmark Inc. increased its holdings in shares of Avery Dennison by 22.5% during the fourth quarter. Assetmark Inc. now owns 397 shares of the industrial products company's stock worth $74,000 after purchasing an additional 73 shares during the period. Farther Finance Advisors LLC increased its stake in Avery Dennison by 49.8% in the fourth quarter. Farther Finance Advisors LLC now owns 409 shares of the industrial products company's stock valued at $77,000 after acquiring an additional 136 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its position in Avery Dennison by 64.6% in the fourth quarter. Jones Financial Companies Lllp now owns 423 shares of the industrial products company's stock valued at $79,000 after buying an additional 166 shares in the last quarter. 94.17% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on AVY shares. Robert W. Baird decreased their price target on shares of Avery Dennison from $220.00 to $210.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. UBS Group dropped their price target on shares of Avery Dennison from $207.00 to $189.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Barclays lowered their target price on shares of Avery Dennison from $225.00 to $210.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Raymond James Financial decreased their price target on shares of Avery Dennison from $208.00 to $194.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Finally, BMO Capital Markets dropped their target price on shares of Avery Dennison from $226.00 to $216.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, Avery Dennison presently has an average rating of "Moderate Buy" and a consensus target price of $206.60.

Avery Dennison Trading Down 1.6%

AVY traded down $2.85 during trading on Monday, hitting $180.39. 478,807 shares of the company's stock were exchanged, compared to its average volume of 650,802. The stock has a 50 day moving average price of $177.68 and a 200 day moving average price of $179.95. Avery Dennison Corporation has a 1 year low of $157.00 and a 1 year high of $233.48. The company has a current ratio of 1.03, a quick ratio of 0.68 and a debt-to-equity ratio of 1.19. The firm has a market cap of $14.10 billion, a P/E ratio of 20.78, a price-to-earnings-growth ratio of 2.94 and a beta of 0.87.

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

Avery Dennison Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were given a dividend of $0.94 per share. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $3.76 dividend on an annualized basis and a yield of 2.08%. This is a positive change from Avery Dennison's previous quarterly dividend of $0.88. Avery Dennison's payout ratio is 43.32%.

About Avery Dennison

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.