Avery Dennison Corporation $AVY Stake Lessened by Truist Financial Corp

Key Points

• Truist Financial Corp reduced its stake in Avery Dennison Corporation by 57.6%, now owning approximately 0.15% of the company, valued at about $20.5 million.
• Equities research analysts have mixed sentiments on Avery Dennison, with Citigroup lowering its price target from $191 to $177, while Bank of America raised its target from $195 to $208, maintaining a "buy" rating.
• Avery Dennison announced a quarterly dividend of $0.94, representing an annualized yield of 2.3%, with a payout ratio of 42.20%.

Truist Financial Corp trimmed its holdings in shares of Avery Dennison Corporation (NYSE:AVY - Free Report) by 57.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 117,099 shares of the industrial products company's stock after selling 159,379 shares during the period. Truist Financial Corp owned about 0.15% of Avery Dennison worth $20,547,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Choreo LLC boosted its holdings in Avery Dennison by 1.5% during the first quarter. Choreo LLC now owns 12,380 shares of the industrial products company's stock worth $2,203,000 after buying an additional 185 shares in the last quarter. Fifth Third Bancorp boosted its holdings in Avery Dennison by 5.9% during the second quarter. Fifth Third Bancorp now owns 3,494 shares of the industrial products company's stock worth $613,000 after buying an additional 196 shares in the last quarter. Brown Advisory Inc. boosted its holdings in Avery Dennison by 3.6% during the first quarter. Brown Advisory Inc. now owns 2,169 shares of the industrial products company's stock worth $386,000 after buying an additional 76 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Avery Dennison by 9.4% during the first quarter. GAMMA Investing LLC now owns 2,409 shares of the industrial products company's stock worth $429,000 after buying an additional 207 shares in the last quarter. Finally, Spire Wealth Management boosted its holdings in Avery Dennison by 630.9% during the first quarter. Spire Wealth Management now owns 2,200 shares of the industrial products company's stock worth $392,000 after buying an additional 1,899 shares in the last quarter. 94.17% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AVY shares. Citigroup reduced their price target on shares of Avery Dennison from $191.00 to $177.00 and set a "neutral" rating for the company in a research report on Monday. Bank of America upped their price target on shares of Avery Dennison from $195.00 to $208.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Weiss Ratings reiterated a "hold (c)" rating on shares of Avery Dennison in a research report on Saturday, September 27th. BMO Capital Markets reiterated an "outperform" rating and issued a $207.00 target price (down previously from $216.00) on shares of Avery Dennison in a research report on Wednesday, July 23rd. Finally, Raymond James Financial increased 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. Six investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $196.80.

Avery Dennison Stock Up 0.5%

Avery Dennison stock opened at $163.42 on Friday. The company has a market capitalization of $12.74 billion, a P/E ratio of 18.34, a P/E/G ratio of 2.50 and a beta of 0.95. The firm's fifty day simple moving average is $168.69 and its 200-day simple moving average is $173.66. 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 Corporation has a 1-year low of $157.00 and a 1-year high of $222.16.

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 analysts' consensus estimates of $2.38 by $0.04. The business had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.23 billion. Avery Dennison had a net margin of 8.14% and a return on equity of 33.14%. Avery Dennison's revenue for the quarter was down .7% on a year-over-year basis. During the same quarter last year, the firm earned $2.42 EPS. Avery Dennison has set its Q3 2025 guidance at 2.240-2.40 EPS. Sell-side analysts forecast that Avery Dennison Corporation will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 2.3%. The ex-dividend date was Wednesday, September 3rd. Avery Dennison's dividend payout ratio (DPR) is 42.20%.

Avery Dennison Company 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.

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