Avery Dennison Corporation (NYSE:AVY) Shares Acquired by Palisade Capital Management LP

Palisade Capital Management LP grew its holdings in Avery Dennison Corporation (NYSE:AVY - Free Report) by 50.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,052 shares of the industrial products company's stock after acquiring an additional 3,380 shares during the period. Palisade Capital Management LP's holdings in Avery Dennison were worth $1,789,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of AVY. American National Bank & Trust acquired a new position in shares of Avery Dennison in the first quarter worth $49,000. Grove Bank & Trust grew its stake in shares of Avery Dennison by 17.7% in the first quarter. Grove Bank & Trust now owns 393 shares of the industrial products company's stock worth $70,000 after acquiring an additional 59 shares in the last quarter. Assetmark Inc. grew its stake in shares of Avery Dennison by 22.5% during the fourth quarter. Assetmark Inc. now owns 397 shares of the industrial products company's stock worth $74,000 after purchasing an additional 73 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of Avery Dennison by 49.8% during the fourth quarter. Farther Finance Advisors LLC now owns 409 shares of the industrial products company's stock worth $77,000 after purchasing an additional 136 shares in the last quarter. Finally, Jones Financial Companies Lllp grew its stake in shares of Avery Dennison by 64.6% during the fourth quarter. Jones Financial Companies Lllp now owns 423 shares of the industrial products company's stock worth $79,000 after purchasing an additional 166 shares in the last quarter. Institutional investors and hedge funds own 94.17% of the company's stock.

Avery Dennison Price Performance

Shares of AVY opened at $183.24 on Friday. The firm has a fifty day moving average price of $177.22 and a 200 day moving average price of $180.15. Avery Dennison Corporation has a 1-year low of $157.00 and a 1-year high of $233.48. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.03 and a quick ratio of 0.68. The stock has a market cap of $14.33 billion, a PE ratio of 21.11, a price-to-earnings-growth ratio of 2.94 and a beta of 0.87.

Avery Dennison (NYSE:AVY - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The industrial products company reported $2.30 EPS for the quarter, missing analysts' consensus estimates of $2.32 by ($0.02). Avery Dennison had a net margin of 7.98% and a return on equity of 33.11%. The business had revenue of $2.15 billion during the quarter, compared to analysts' expectations of $2.15 billion. During the same period in the previous year, the company posted $2.29 earnings per share. Avery Dennison's quarterly revenue was down .1% on a year-over-year basis. As a group, sell-side analysts anticipate that Avery Dennison Corporation will post 9.96 EPS for the current year.

Avery Dennison Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.05%. This is a boost from Avery Dennison's previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Wednesday, June 4th. Avery Dennison's dividend payout ratio is presently 43.32%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AVY. Truist Financial lowered their target price on shares of Avery Dennison from $215.00 to $210.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Wall Street Zen upgraded shares of Avery Dennison from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Robert W. Baird lowered their target price on shares of Avery Dennison from $220.00 to $210.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Barclays lowered their target price on shares of Avery Dennison from $225.00 to $210.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Finally, Jefferies Financial Group assumed coverage on shares of Avery Dennison in a research note on Tuesday, April 22nd. They set a "hold" rating and a $175.00 target price for the company. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $206.60.

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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