Avery Dennison Corporation $AVY Shares Purchased by Palmer Knight Co

Key Points

• Palmer Knight Co increased its holdings in Avery Dennison Corporation by 32.7% during the second quarter, making the stock its 22nd biggest holding worth approximately $7.13 million.
• Several analysts updated their target prices for Avery Dennison, with JPMorgan Chase raising the target from $172.00 to $182.00 while maintaining a "neutral" rating.
• Avery Dennison announced a quarterly dividend of $0.94 per share, reflecting an annual yield of 2.4% and a payout ratio of 42.20%.

Palmer Knight Co increased its holdings in shares of Avery Dennison Corporation (NYSE:AVY - Free Report) by 32.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 40,647 shares of the industrial products company's stock after acquiring an additional 10,021 shares during the period. Avery Dennison makes up approximately 3.0% of Palmer Knight Co's portfolio, making the stock its 22nd biggest holding. Palmer Knight Co owned 0.05% of Avery Dennison worth $7,132,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of AVY. GAMMA Investing LLC grew its holdings in Avery Dennison by 9.4% in the first quarter. GAMMA Investing LLC now owns 2,409 shares of the industrial products company's stock valued at $429,000 after purchasing an additional 207 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Avery Dennison by 1.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,185 shares of the industrial products company's stock valued at $2,169,000 after purchasing an additional 217 shares during the last quarter. Exchange Traded Concepts LLC grew its holdings in Avery Dennison by 2.3% in the first quarter. Exchange Traded Concepts LLC now owns 4,210 shares of the industrial products company's stock valued at $749,000 after purchasing an additional 96 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in Avery Dennison in the first quarter valued at $3,199,000. Finally, State of Alaska Department of Revenue grew its holdings in Avery Dennison by 1.5% in the first quarter. State of Alaska Department of Revenue now owns 17,133 shares of the industrial products company's stock valued at $3,049,000 after purchasing an additional 250 shares during the last quarter. Institutional investors and hedge funds own 94.17% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on AVY shares. JPMorgan Chase & Co. upped their target price on Avery Dennison from $172.00 to $182.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Truist Financial lowered their target price on Avery Dennison from $204.00 to $203.00 and set a "buy" rating on the stock in a report on Monday, October 13th. BMO Capital Markets restated an "outperform" rating and issued a $207.00 price objective (down from $216.00) on shares of Avery Dennison in a research report on Wednesday, July 23rd. Weiss Ratings restated a "hold (c-)" rating on shares of Avery Dennison in a research report on Tuesday, October 14th. Finally, UBS Group reduced their price objective on Avery Dennison from $188.00 to $181.00 and set a "neutral" rating on the stock in a research report on Monday, October 6th. Six research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $195.30.

Avery Dennison Stock Performance

NYSE AVY opened at $159.34 on Friday. The business's 50-day moving average price is $166.87 and its 200 day moving average price is $172.43. Avery Dennison Corporation has a twelve month low of $156.23 and a twelve month high of $221.54. The company has a market capitalization of $12.43 billion, a PE ratio of 17.88, a price-to-earnings-growth ratio of 2.35 and a beta of 0.95. 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 released its 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. Avery Dennison had a return on equity of 33.14% and a net margin of 8.14%.The firm had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.23 billion. During the same period in the prior year, the business posted $2.42 earnings per share. The firm'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. On average, research analysts predict that Avery Dennison Corporation will post 9.96 earnings per share for the current year.

Avery Dennison Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd were given a dividend of $0.94 per share. The ex-dividend date was Wednesday, September 3rd. This represents a $3.76 annualized dividend and a yield of 2.4%. Avery Dennison's dividend 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.

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