Avery Dennison Corporation $AVY Shares Sold by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon reduced its Avery Dennison stake by 7.5% in the fourth quarter, selling 56,580 shares and leaving it with 695,131 shares valued at about $126.4 million.
• Avery Dennison reported strong quarterly results, with EPS of $2.47 topping estimates and revenue of $2.30 billion exceeding forecasts; revenue rose 7% year over year.
• The company raised its quarterly dividend to $1.00 per share from $0.94, and analysts remain generally positive with an average rating of Moderate Buy and a target price around $201.33.

Bank of New York Mellon Corp trimmed its holdings in shares of Avery Dennison Corporation (NYSE:AVY - Free Report) by 7.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 695,131 shares of the industrial products company's stock after selling 56,580 shares during the quarter. Bank of New York Mellon Corp owned 0.90% of Avery Dennison worth $126,430,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of AVY. Bartlett & CO. Wealth Management LLC increased its position in shares of Avery Dennison by 16,900.0% during the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 170 shares of the industrial products company's stock worth $31,000 after acquiring an additional 169 shares during the last quarter. Root Financial Partners LLC increased its position in shares of Avery Dennison by 60.8% during the fourth quarter. Root Financial Partners LLC now owns 193 shares of the industrial products company's stock worth $35,000 after acquiring an additional 73 shares during the last quarter. Measured Wealth Private Client Group LLC purchased a new stake in shares of Avery Dennison during the third quarter worth about $36,000. Godfrey Financial Associates Inc. purchased a new stake in shares of Avery Dennison during the fourth quarter worth about $37,000. Finally, CYBER HORNET ETFs LLC purchased a new stake in shares of Avery Dennison during the second quarter worth about $37,000. 94.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on AVY shares. Deutsche Bank Aktiengesellschaft started coverage on Avery Dennison in a report on Wednesday, April 1st. They issued a "buy" rating and a $200.00 price objective for the company. Argus set a $175.00 price objective on Avery Dennison in a report on Thursday. Citigroup lowered their price objective on Avery Dennison from $190.00 to $185.00 and set a "neutral" rating for the company in a report on Thursday, April 30th. Truist Financial reissued a "buy" rating and issued a $221.00 price objective (down from $223.00) on shares of Avery Dennison in a report on Wednesday, April 29th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Avery Dennison in a report on Friday, March 27th. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $201.33.

Avery Dennison Stock Up 1.4%

NYSE:AVY opened at $155.34 on Friday. The firm has a market capitalization of $11.88 billion, a PE ratio of 17.51, a price-to-earnings-growth ratio of 2.67 and a beta of 0.82. The stock has a 50 day moving average of $164.45 and a 200-day moving average of $175.86. Avery Dennison Corporation has a 52 week low of $152.55 and a 52 week high of $199.54. The company has a current ratio of 1.15, a quick ratio of 0.80 and a debt-to-equity ratio of 1.38.

Avery Dennison (NYSE:AVY - Get Free Report) last posted its earnings results on Tuesday, April 28th. The industrial products company reported $2.47 EPS for the quarter, beating the consensus estimate of $2.41 by $0.06. The company had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.26 billion. Avery Dennison had a return on equity of 33.69% and a net margin of 7.66%.The business's revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.30 earnings per share. Avery Dennison has set its Q2 2026 guidance at 2.430-2.53 EPS. Analysts predict that Avery Dennison Corporation will post 10.05 EPS for the current year.

Avery Dennison Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Wednesday, June 3rd will be given a dividend of $1.00 per share. This is a boost from Avery Dennison's previous quarterly dividend of $0.94. This represents a $4.00 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Wednesday, June 3rd. Avery Dennison's payout ratio is presently 45.10%.

Insider Activity

In other news, Director Mitchell R. Butier sold 20,000 shares of the business's stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $173.88, for a total transaction of $3,477,600.00. Following the completion of the transaction, the director directly owned 211,147 shares in the company, valued at approximately $36,714,240.36. The trade was a 8.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.81% of the company's stock.

Avery Dennison Company Profile

Avery Dennison NYSE: AVY is a global materials science and manufacturing company specializing in labeling and packaging solutions. The company develops pressure-sensitive materials, tags and labels, and adhesive technologies that help brands and businesses enhance product identification, branding and supply-chain performance. Avery Dennison's offerings range from industrial and retail labeling to high-performance tapes, films and graphics materials used across multiple end markets.

The company operates through several key segments, including Label and Graphic Materials, which supplies pressure-sensitive materials for consumer goods; Retail Branding and Information Solutions, offering apparel tags, RFID inlays and digital product identification; Pressure-Sensitive Materials, providing specialty tapes and adhesives; and RF Technologies, focused on advanced RFID and IoT labeling solutions.

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