Avery Dennison Corporation $AVY Stake Lifted by State of Alaska Department of Revenue

Key Points

• State of Alaska Department of Revenue increased its Avery Dennison stake by 159.9% in the third quarter, holding 37,429 shares valued at approximately $6.4 million. Institutional investors collectively own 94.17% of the company.
• Analyst sentiment is favorable, with seven Buy ratings and three Holds, resulting in a consensus “Moderate Buy” rating and an average price target of $199.10.
• Avery Dennison reported quarterly earnings of $2.89 per share, beating estimates of $2.47, while revenue rose 10.9% year over year to $2.46 billion. The company also maintains a quarterly dividend of $1.00, or $4.00 annually, yielding about 2.3%.

State of Alaska Department of Revenue boosted its holdings in Avery Dennison Corporation (NYSE:AVY - Free Report) by 159.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 37,429 shares of the industrial products company's stock after purchasing an additional 23,026 shares during the period. State of Alaska Department of Revenue's holdings in Avery Dennison were worth $6,388,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. Trust Co. of Vermont purchased a new stake in Avery Dennison during the 2nd quarter worth approximately $27,000. Elevation Wealth Partners LLC boosted its stake in shares of Avery Dennison by 684.0% during the 2nd quarter. Elevation Wealth Partners LLC now owns 196 shares of the industrial products company's stock valued at $32,000 after buying an additional 171 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Avery Dennison during the second quarter worth approximately $40,000. Roxbury Financial LLC acquired a new stake in shares of Avery Dennison during the second quarter worth approximately $40,000. Finally, Miller Global Investments LLC bought a new stake in shares of Avery Dennison in the third quarter worth $48,000. Institutional investors and hedge funds own 94.17% of the company's stock.

Insider Buying and Selling

In other news, SVP Nicholas Colisto sold 3,886 shares of the stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $170.68, for a total transaction of $663,262.48. Following the sale, the senior vice president directly owned 7,126 shares in the company, valued at approximately $1,216,265.68. This represents a 35.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Ignacio J. Walker sold 1,742 shares of the firm's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $171.61, for a total value of $298,944.62. Following the completion of the sale, the senior vice president directly owned 7,585 shares in the company, valued at approximately $1,301,661.85. This trade represents a 18.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.81% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on AVY shares. Bank of America reiterated a "buy" rating on shares of Avery Dennison in a research note on Friday, August 14th. UBS Group boosted their target price on shares of Avery Dennison from $218.00 to $225.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. Wall Street Zen upgraded shares of Avery Dennison from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Citigroup increased their price target on shares of Avery Dennison from $184.00 to $186.00 and gave the stock a "neutral" rating in a research report on Friday, July 31st. Finally, Jefferies Financial Group reaffirmed a "hold" rating and set a $181.00 price target on shares of Avery Dennison in a research report on Monday, September 28th. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Avery Dennison has a consensus rating of "Moderate Buy" and an average price target of $199.10.

Avery Dennison Stock Performance

Shares of Avery Dennison stock traded down $0.41 during trading hours on Friday, reaching $175.47. The company's stock had a trading volume of 563,351 shares, compared to its average volume of 751,065. The company's 50 day simple moving average is $173.89 and its 200 day simple moving average is $167.18. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.79 and a current ratio of 1.13. Avery Dennison Corporation has a one year low of $152.42 and a one year high of $199.54. The stock has a market cap of $13.30 billion, a P/E ratio of 19.22, a price-to-earnings-growth ratio of 2.11 and a beta of 0.79.

Avery Dennison (NYSE:AVY - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The industrial products company reported $2.89 EPS for the quarter, beating the consensus estimate of $2.47 by $0.42. Avery Dennison had a net margin of 7.62% and a return on equity of 34.60%. The business had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.30 billion. During the same period in the previous year, the business posted $2.42 EPS. The company's quarterly revenue was up 10.9% on a year-over-year basis. Avery Dennison has set its Q3 2026 guidance at 10.000-10.300 EPS. As a group, analysts expect that Avery Dennison Corporation will post 10.15 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 2nd were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Wednesday, September 2nd. Avery Dennison's payout ratio is presently 43.81%.

About Avery Dennison

Avery Dennison Corporation NYSE: AVY is a global materials science and manufacturing company that develops pressure-sensitive adhesives, functional materials and intelligent labeling solutions. Its products help identify, brand, decorate, track and protect products across a range of industries.

The company serves the apparel, retail, consumer goods, logistics, food, healthcare, automotive and industrial markets. Its offerings include label and graphic materials, self-adhesive tapes, specialty films, RFID inlays and tags, apparel labels, retail branding systems, packaging solutions and healthcare-related materials.

Avery Dennison was founded in 1935 by R.

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