Adage Capital Partners GP L.L.C. Sells 51,540 Shares of Avery Dennison Corporation $AVY

Key Points

• Adage Capital Partners has reduced its stake in Avery Dennison Corporation by 25.3%, selling 51,540 shares and bringing their total ownership to 152,136 shares worth approximately $27 million.
• Major institutional investors, including Vanguard Group and T. Rowe Price, have either increased their holdings or maintained strong positions in Avery Dennison, indicating robust institutional interest with 94.17% of the stock owned by such entities.
• Avery Dennison reported better-than-expected earnings of $2.42 per share for the last quarter, beating the consensus estimate by $0.04, and announced a quarterly dividend of $0.94 per share, reflecting an annualized yield of 2.3%.

Adage Capital Partners GP L.L.C. lessened its position in Avery Dennison Corporation (NYSE:AVY - Free Report) by 25.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 152,136 shares of the industrial products company's stock after selling 51,540 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.19% of Avery Dennison worth $27,076,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Avery Dennison by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 9,959,263 shares of the industrial products company's stock worth $1,772,450,000 after acquiring an additional 277,554 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Avery Dennison by 0.6% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,249,377 shares of the industrial products company's stock worth $756,262,000 after acquiring an additional 24,068 shares during the last quarter. Lazard Asset Management LLC lifted its holdings in shares of Avery Dennison by 4.0% in the 4th quarter. Lazard Asset Management LLC now owns 1,841,520 shares of the industrial products company's stock worth $344,603,000 after acquiring an additional 71,435 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Avery Dennison by 17.3% in the 1st quarter. Victory Capital Management Inc. now owns 1,582,933 shares of the industrial products company's stock worth $281,715,000 after acquiring an additional 233,062 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Avery Dennison by 7.1% in the 1st quarter. Invesco Ltd. now owns 1,541,787 shares of the industrial products company's stock worth $274,392,000 after acquiring an additional 101,996 shares during the last quarter. Institutional investors own 94.17% of the company's stock.

Avery Dennison Stock Down 1.0%

Shares of AVY traded down $1.66 during mid-day trading on Wednesday, hitting $165.22. The company's stock had a trading volume of 76,950 shares, compared to its average volume of 730,404. The company's 50-day moving average is $174.89 and its 200-day moving average is $175.98. Avery Dennison Corporation has a 52-week low of $157.00 and a 52-week high of $224.38. The firm has a market capitalization of $12.88 billion, a price-to-earnings ratio of 18.55, a PEG ratio of 2.59 and a beta of 0.90. 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 (NYSE:AVY - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The industrial products company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.04. The firm had revenue of $2.22 billion during the quarter, compared to analysts' expectations of $2.23 billion. Avery Dennison had a net margin of 8.14% and a return on equity of 33.14%. The company's revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.42 EPS. Avery Dennison has set its Q3 2025 guidance at 2.240-2.40 EPS. On average, equities research analysts forecast that Avery Dennison Corporation will post 9.96 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Wednesday, September 3rd. Avery Dennison's payout ratio is 42.20%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Avery Dennison from $172.00 to $182.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Raymond James Financial lifted their price objective on shares of Avery Dennison from $194.00 to $200.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Wall Street Zen raised shares of Avery Dennison from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Citigroup boosted their price objective on shares of Avery Dennison from $177.00 to $185.00 and gave the company a "neutral" rating in a research report on Friday, July 11th. Finally, Bank of America boosted their price objective on shares of Avery Dennison from $195.00 to $208.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Six investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Avery Dennison has a consensus rating of "Moderate Buy" and an average price target of $197.60.

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.