ASR Vermogensbeheer N.V. Buys Shares of 15,694 Avery Dennison Corporation (NYSE:AVY)

Key Points

• ASR Vermogensbeheer N.V. acquired 15,694 shares of Avery Dennison Corporation, valued at approximately $2.79 million, indicating strong institutional interest in the stock.
• Avery Dennison reported a quarterly EPS of $2.42, slightly exceeding analyst expectations, despite a 0.7% decline in revenue compared to the previous year.
• The company announced a quarterly dividend of $0.94, which will be paid on September 17th, representing a yield of 2.2% with a payout ratio of 42.20%.

ASR Vermogensbeheer N.V. purchased a new position in Avery Dennison Corporation (NYSE:AVY - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 15,694 shares of the industrial products company's stock, valued at approximately $2,793,000.

Several other hedge funds and other institutional investors have also modified their holdings of AVY. Bayforest Capital Ltd acquired a new stake in shares of Avery Dennison in the 1st quarter worth about $27,000. Costello Asset Management INC acquired a new stake in shares of Avery Dennison in the first quarter valued at approximately $40,000. American National Bank & Trust bought a new stake in shares of Avery Dennison during the first quarter valued at approximately $49,000. Grove Bank & Trust boosted its position in shares of Avery Dennison by 17.7% during the first quarter. Grove Bank & Trust now owns 393 shares of the industrial products company's stock worth $70,000 after buying an additional 59 shares during the period. Finally, Abound Financial LLC bought a new position in Avery Dennison in the 1st quarter worth approximately $71,000. 94.17% of the stock is owned by institutional investors and hedge funds.

Avery Dennison Trading Up 1.2%

Shares of AVY opened at $169.69 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.70 and a debt-to-equity ratio of 1.19. The stock has a market cap of $13.23 billion, a PE ratio of 19.05, a PEG ratio of 2.58 and a beta of 0.88. Avery Dennison Corporation has a 1 year low of $157.00 and a 1 year high of $224.38. The stock has a 50 day simple moving average of $177.07 and a 200-day simple moving average of $178.11.

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, beating analysts' consensus estimates of $2.38 by $0.04. The firm had revenue of $2.22 billion for the quarter, compared to analyst estimates 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 for the quarter was down .7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.42 earnings per share. On average, sell-side analysts predict that Avery Dennison Corporation will post 9.96 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd will be given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 2.2%. The ex-dividend date is Wednesday, September 3rd. Avery Dennison's payout ratio is 42.20%.

Analyst Upgrades and Downgrades

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 set a "hold" rating and a $175.00 price target on the stock. JPMorgan Chase & Co. raised their target price 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. Raymond James Financial upped their price target on shares of Avery Dennison from $194.00 to $200.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. Robert W. Baird lowered their price objective on shares of Avery Dennison from $220.00 to $210.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Finally, Wall Street Zen upgraded Avery Dennison from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price 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.

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