Alliancebernstein L.P. Sells 4,156 Shares of Avery Dennison Corporation $AVY

Key Points

• Alliancebernstein L.P. reduced its stake in Avery Dennison Corporation by 4.5% during the first quarter, resulting in ownership of 87,833 shares valued at approximately $15.6 million.
• Avery Dennison recently reported an earnings per share (EPS) of $2.42 for the last quarter, slightly exceeding analyst expectations of $2.38, despite a 0.7% year-over-year decline in revenue.
• The company declared a quarterly dividend of $0.94 per share, which will be distributed on September 17th, providing a 2.2% annualized dividend yield.

Alliancebernstein L.P. lowered its holdings in Avery Dennison Corporation (NYSE:AVY - Free Report) by 4.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 87,833 shares of the industrial products company's stock after selling 4,156 shares during the period. Alliancebernstein L.P. owned about 0.11% of Avery Dennison worth $15,632,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in AVY. GAMMA Investing LLC grew its position in Avery Dennison by 19,370.0% in the first quarter. GAMMA Investing LLC now owns 428,730 shares of the industrial products company's stock valued at $76,301,000 after purchasing an additional 426,528 shares in the last quarter. DAVENPORT & Co LLC lifted its stake in Avery Dennison by 905.0% in the first quarter. DAVENPORT & Co LLC now owns 324,095 shares of the industrial products company's stock valued at $57,503,000 after acquiring an additional 291,848 shares during the last quarter. Vanguard Group Inc. lifted its stake in Avery Dennison by 2.9% in the first quarter. Vanguard Group Inc. now owns 9,959,263 shares of the industrial products company's stock valued at $1,772,450,000 after acquiring an additional 277,554 shares during the last quarter. Nuveen LLC acquired a new stake in Avery Dennison in the first quarter valued at $46,322,000. Finally, Johnson Investment Counsel Inc. lifted its stake in Avery Dennison by 1,305.6% in the first quarter. Johnson Investment Counsel Inc. now owns 264,452 shares of the industrial products company's stock valued at $47,065,000 after acquiring an additional 245,638 shares during the last quarter. Institutional investors own 94.17% of the company's stock.

Analyst Upgrades and Downgrades

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

Avery Dennison Stock Performance

Shares of NYSE AVY traded down $1.47 during mid-day trading on Wednesday, reaching $164.76. 723,579 shares of the company were exchanged, compared to its average volume of 544,135. Avery Dennison Corporation has a twelve month low of $157.00 and a twelve month high of $224.38. The stock has a market capitalization of $12.85 billion, a P/E ratio of 18.49, a P/E/G ratio of 2.56 and a beta of 0.90. The company's 50-day simple moving average is $172.87 and its 200-day simple moving average is $175.22. The company has a quick ratio of 0.70, a current ratio of 1.04 and a debt-to-equity ratio of 1.19.

Avery Dennison (NYSE:AVY - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The industrial products company reported $2.42 EPS for the quarter, topping 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 business had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.23 billion. During the same period last year, the firm earned $2.42 earnings per share. Avery Dennison'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. As a group, research analysts predict that Avery Dennison Corporation will post 9.96 earnings per share for the current 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 dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Wednesday, September 3rd. Avery Dennison's dividend payout ratio (DPR) is currently 42.20%.

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.