New York State Common Retirement Fund Has $10.78 Million Holdings in Avery Dennison Corporation (NYSE:AVY)

New York State Common Retirement Fund lowered its position in shares of Avery Dennison Corporation (NYSE:AVY - Free Report) by 17.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 60,556 shares of the industrial products company's stock after selling 12,424 shares during the quarter. New York State Common Retirement Fund owned about 0.08% of Avery Dennison worth $10,777,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of AVY. Nomura Holdings Inc. acquired a new position in shares of Avery Dennison during the 4th quarter valued at $496,000. Brown Advisory Inc. boosted its position in shares of Avery Dennison by 3.6% in 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 during the period. GAMMA Investing LLC boosted its position in shares of Avery Dennison by 9.4% in 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 during the period. Spire Wealth Management boosted its position 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 valued at $392,000 after purchasing an additional 1,899 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in Avery Dennison by 1.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,185 shares of the industrial products company's stock valued at $2,169,000 after purchasing an additional 217 shares during the last quarter. Institutional investors and hedge funds own 94.17% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on AVY. Bank of America raised their target price on Avery Dennison from $195.00 to $208.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Wall Street Zen raised Avery Dennison from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Jefferies Financial Group started coverage on Avery Dennison in a research report on Tuesday, April 22nd. They set a "hold" rating and a $175.00 target price on the stock. Barclays decreased their target price on Avery Dennison from $225.00 to $210.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Finally, BMO Capital Markets decreased their target price on Avery Dennison from $226.00 to $216.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $197.50.

Avery Dennison Trading Down 1.2%

Shares of Avery Dennison stock traded down $2.14 on Friday, hitting $178.66. 519,110 shares of the company's stock traded hands, compared to its average volume of 651,994. The firm's 50-day moving average price is $179.39 and its two-hundred day moving average price is $179.53. The stock has a market capitalization of $13.97 billion, a PE ratio of 20.58, a price-to-earnings-growth ratio of 2.51 and a beta of 0.87. Avery Dennison Corporation has a one year low of $157.00 and a one 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.

Avery Dennison (NYSE:AVY - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter in the prior year, the company earned $2.29 EPS. Avery Dennison's quarterly revenue was down .1% on a year-over-year basis. On average, research analysts expect that Avery Dennison Corporation will post 9.96 EPS for the current fiscal year.

Avery Dennison Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.10%. This is an increase 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 currently 43.32%.

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.