Allianz Asset Management GmbH Has $2.70 Million Stock Position in Avery Dennison Corporation (NYSE:AVY)

Allianz Asset Management GmbH reduced its position in Avery Dennison Corporation (NYSE:AVY - Free Report) by 20.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,176 shares of the industrial products company's stock after selling 3,827 shares during the period. Allianz Asset Management GmbH's holdings in Avery Dennison were worth $2,701,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of AVY. American National Bank & Trust acquired a new stake in shares of Avery Dennison in the first quarter worth $49,000. Grove Bank & Trust lifted its position in Avery Dennison by 17.7% during the 1st quarter. Grove Bank & Trust now owns 393 shares of the industrial products company's stock worth $70,000 after acquiring an additional 59 shares during the last quarter. Abound Financial LLC bought a new stake in Avery Dennison during the first quarter valued at about $71,000. Headlands Technologies LLC acquired a new stake in shares of Avery Dennison in the fourth quarter valued at about $79,000. Finally, Quarry LP lifted its position in shares of Avery Dennison by 255.3% during the 4th quarter. Quarry LP now owns 501 shares of the industrial products company's stock worth $94,000 after purchasing an additional 360 shares during the last quarter. 94.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AVY has been the topic of a number of research analyst reports. Jefferies Financial Group started coverage on Avery Dennison in a report on Tuesday, April 22nd. They issued a "hold" rating and a $175.00 target price on the stock. Bank of America raised their price objective on shares of Avery Dennison from $195.00 to $208.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Barclays dropped 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 report on Thursday, April 24th. Raymond James Financial boosted their target price on shares of Avery Dennison from $194.00 to $200.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Finally, Truist Financial dropped their target price on shares of Avery Dennison from $215.00 to $210.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $197.60.

Avery Dennison Stock Performance

Avery Dennison stock traded down $2.01 on Friday, hitting $165.76. The company's stock had a trading volume of 765,721 shares, compared to its average volume of 572,953. Avery Dennison Corporation has a one year low of $157.00 and a one year high of $224.38. 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 company has a fifty day moving average price of $177.95 and a 200-day moving average price of $178.74. The firm has a market cap of $12.93 billion, a P/E ratio of 18.60, a price-to-earnings-growth ratio of 2.58 and a beta of 0.88.

Avery Dennison (NYSE:AVY - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The industrial products company reported $2.42 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $2.23 billion. During the same quarter in the previous year, the company earned $2.42 EPS. The firm's revenue for the quarter was down .7% compared to the same quarter last year. On average, equities analysts anticipate that Avery Dennison Corporation will post 9.96 earnings per share for the current year.

Avery Dennison Announces Dividend

The business 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. The ex-dividend date is Wednesday, September 3rd. This represents a $3.76 annualized dividend and a yield of 2.3%. Avery Dennison's dividend payout ratio is 42.20%.

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.