Invesco Ltd. Has $274.39 Million Stock Holdings in Avery Dennison Corporation (NYSE:AVY)

Key Points

• Invesco Ltd. increased its holdings in Avery Dennison Corporation by 7.1%, owning 1,541,787 shares worth approximately $274.4 million after purchasing an additional 101,996 shares in the first quarter.
• Avery Dennison reported $2.42 earnings per share (EPS) for its most recent quarter, slightly above analyst expectations, with a net margin of 8.14% and a revenue of $2.22 billion, down 0.7% year-over-year.
• The company declared a quarterly dividend of $0.94 per share, representing a yield of 2.2%, with the ex-dividend date set for September 3rd.

Invesco Ltd. raised its holdings in Avery Dennison Corporation (NYSE:AVY - Free Report) by 7.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,541,787 shares of the industrial products company's stock after purchasing an additional 101,996 shares during the period. Invesco Ltd. owned 1.97% of Avery Dennison worth $274,392,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Avery Dennison by 2.9% in the first quarter. Vanguard Group Inc. now owns 9,959,263 shares of the industrial products company's stock valued at $1,772,450,000 after purchasing an additional 277,554 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in shares of Avery Dennison by 3.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,225,309 shares of the industrial products company's stock valued at $790,683,000 after buying an additional 150,572 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Avery Dennison by 12.9% during the fourth quarter. Ameriprise Financial Inc. now owns 2,185,732 shares of the industrial products company's stock valued at $409,014,000 after buying an additional 250,359 shares during the period. Lazard Asset Management LLC lifted its stake in shares of Avery Dennison by 4.0% during the fourth quarter. Lazard Asset Management LLC now owns 1,841,520 shares of the industrial products company's stock valued at $344,603,000 after buying an additional 71,435 shares during the period. Finally, Victory Capital Management Inc. raised its stake in Avery Dennison by 17.3% during the first quarter. Victory Capital Management Inc. now owns 1,582,933 shares of the industrial products company's stock worth $281,715,000 after purchasing an additional 233,062 shares during the period. Hedge funds and other institutional investors own 94.17% of the company's stock.

Avery Dennison Price Performance

Avery Dennison stock traded down $3.04 during trading hours on Friday, hitting $174.72. 513,843 shares of the company traded hands, compared to its average volume of 690,586. The firm's 50-day simple moving average is $176.66 and its two-hundred day simple moving average is $177.37. The firm has a market cap of $13.62 billion, a P/E ratio of 19.61, a P/E/G ratio of 2.73 and a beta of 0.88. The company has a quick ratio of 0.70, a current ratio of 1.04 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 $224.38.

Avery Dennison (NYSE:AVY - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.04. The company had revenue of $2.22 billion for the quarter, compared to analysts' expectations of $2.23 billion. Avery Dennison had a net margin of 8.14% and a return on equity of 33.14%. The business's revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.42 EPS. As a group, analysts forecast that Avery Dennison Corporation will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Wednesday, September 3rd. Avery Dennison's dividend payout ratio (DPR) is presently 42.20%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on AVY shares. Argus downgraded shares of Avery Dennison from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 12th. Robert W. Baird lowered their price target on shares of Avery Dennison from $220.00 to $210.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Citigroup increased their price objective on shares of Avery Dennison from $177.00 to $185.00 and gave the company a "neutral" rating in a research note on Friday, July 11th. Jefferies Financial Group started coverage on shares of Avery Dennison in a research note on Tuesday, April 22nd. They set a "hold" rating and a $175.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised their price target on shares of Avery Dennison from $172.00 to $182.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $197.60.

Avery Dennison 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.