Ameriprise Financial Inc. Lowers Stock Holdings in Avery Dennison Corporation $AVY

Key Points

• Ameriprise Financial Inc. has reduced its stake in Avery Dennison Corporation by 8.8%, selling 192,645 shares, bringing their ownership to approximately 1,993,087 shares valued at $354.7 million.
• Several large investors made significant changes to their holdings in Avery Dennison, with GAMMA Investing LLC increasing its stake by 19,370%, and Vanguard Group Inc. growing its holdings by 2.9%.
• Avery Dennison reported quarterly earnings of $2.42 per share, surpassing estimates, but experienced a slight revenue decline of 0.7% year-over-year, totaling $2.22 billion for the quarter.

Ameriprise Financial Inc. lowered its position in shares of Avery Dennison Corporation (NYSE:AVY - Free Report) by 8.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,993,087 shares of the industrial products company's stock after selling 192,645 shares during the period. Ameriprise Financial Inc. owned about 2.55% of Avery Dennison worth $354,725,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of AVY. GAMMA Investing LLC boosted its stake 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 worth $76,301,000 after buying an additional 426,528 shares in the last quarter. DAVENPORT & Co LLC boosted its stake in shares of Avery Dennison by 905.0% in the 1st quarter. DAVENPORT & Co LLC now owns 324,095 shares of the industrial products company's stock valued at $57,503,000 after purchasing an additional 291,848 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Avery Dennison by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 9,959,263 shares of the industrial products company's stock valued at $1,772,450,000 after purchasing an additional 277,554 shares during the last quarter. Nuveen LLC bought a new position in shares of Avery Dennison during the 1st quarter valued at $46,322,000. Finally, Johnson Investment Counsel Inc. grew its holdings in shares of Avery Dennison by 1,305.6% during the 1st quarter. Johnson Investment Counsel Inc. now owns 264,452 shares of the industrial products company's stock valued at $47,065,000 after purchasing an additional 245,638 shares during the last quarter. 94.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Bank of America increased their target price on shares of Avery Dennison from $195.00 to $208.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Citigroup increased their target price on shares of Avery Dennison from $177.00 to $185.00 and gave the company a "neutral" rating in a report on Friday, July 11th. Argus lowered shares of Avery Dennison from a "strong-buy" rating to a "hold" rating in a report on Monday, May 12th. Raymond James Financial raised their target price on shares of Avery Dennison from $194.00 to $200.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Finally, BMO Capital Markets reaffirmed an "outperform" rating and issued a $207.00 target price (down from $216.00) on shares of Avery Dennison in a research note on Wednesday, July 23rd. Six equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Avery Dennison has an average rating of "Moderate Buy" and a consensus price target of $197.60.

Avery Dennison Stock Performance

NYSE:AVY opened at $178.5150 on Friday. The stock has a market cap of $13.92 billion, a P/E ratio of 20.04, a price-to-earnings-growth ratio of 2.71 and a beta of 0.88. The firm's fifty day simple moving average is $176.39 and its 200 day simple moving average is $177.03. Avery Dennison Corporation has a twelve month low of $157.00 and a twelve month 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.

Avery Dennison (NYSE:AVY - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The industrial products company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.38 by $0.04. The business had revenue of $2.22 billion for 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 firm's revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.42 earnings per share. 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 EPS for the current year.

Avery Dennison Dividend Announcement

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 issued a $0.94 dividend. The ex-dividend date is Wednesday, September 3rd. This represents a $3.76 annualized dividend and a yield of 2.1%. Avery Dennison's payout ratio is 42.20%.

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.

Want to see what other hedge funds are holding AVY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Avery Dennison Corporation (NYSE:AVY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.