Avery Dennison Corporation (NYSE:AVY) Shares Sold by Triglav Skladi D.O.O.

Key Points

• Triglav Skladi D.O.O. has reduced its holdings in Avery Dennison Corporation by 5.2%, owning 37,750 shares worth approximately $6.72 million after selling 2,060 shares.
• Avery Dennison reported a quarterly earnings per share of $2.42, beating estimates by $0.04, but experienced a year-over-year revenue decline of 0.7%.
• The company declared a quarterly dividend of $0.94 per share, representing a yield of 2.2%, with the next payment scheduled for September 17th.

Triglav Skladi D.O.O. trimmed its position in Avery Dennison Corporation (NYSE:AVY - Free Report) by 5.2% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 37,750 shares of the industrial products company's stock after selling 2,060 shares during the period. Triglav Skladi D.O.O.'s holdings in Avery Dennison were worth $6,718,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Resona Asset Management Co. Ltd. grew its stake in Avery Dennison by 10.4% in the first quarter. Resona Asset Management Co. Ltd. now owns 26,358 shares of the industrial products company's stock worth $4,682,000 after purchasing an additional 2,474 shares in the last quarter. HighTower Advisors LLC boosted its stake in Avery Dennison by 16.6% in the first quarter. HighTower Advisors LLC now owns 17,214 shares of the industrial products company's stock valued at $3,063,000 after acquiring an additional 2,451 shares during the period. Trillium Asset Management LLC boosted its stake in Avery Dennison by 1.3% in the first quarter. Trillium Asset Management LLC now owns 73,039 shares of the industrial products company's stock valued at $12,999,000 after acquiring an additional 955 shares during the period. Public Sector Pension Investment Board boosted its stake in Avery Dennison by 9.3% in the first quarter. Public Sector Pension Investment Board now owns 10,951 shares of the industrial products company's stock valued at $1,949,000 after acquiring an additional 932 shares during the period. Finally, SouthState Corp boosted its stake in Avery Dennison by 195.7% in the first quarter. SouthState Corp now owns 207 shares of the industrial products company's stock valued at $37,000 after acquiring an additional 137 shares during the period. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Avery Dennison Price Performance

NYSE AVY opened at $174.72 on Wednesday. The stock has a market capitalization of $13.62 billion, a P/E ratio of 19.61, a P/E/G ratio of 2.64 and a beta of 0.88. Avery Dennison Corporation has a 1 year low of $157.00 and a 1 year high of $224.38. The business's fifty day moving average is $176.75 and its two-hundred day moving average is $177.61. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.70 and a current ratio of 1.04.

Avery Dennison (NYSE:AVY - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating 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 return on equity of 33.14% and a net margin of 8.14%. The firm's revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.42 earnings per share. On average, research 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 disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 2.2%. The ex-dividend date is Wednesday, September 3rd. Avery Dennison's payout ratio is presently 42.20%.

Analysts Set New Price Targets

A number of equities analysts have commented on AVY shares. Robert W. Baird decreased their target price on Avery Dennison from $220.00 to $210.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. BMO Capital Markets restated an "outperform" rating and issued a $207.00 target price (down from $216.00) on shares of Avery Dennison in a research note on Wednesday, July 23rd. Truist Financial reduced their price objective on Avery Dennison from $215.00 to $210.00 and set a "buy" rating for the company in a research report on Tuesday, April 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 price objective for the company. Finally, Barclays reduced their price objective on Avery Dennison from $225.00 to $210.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Avery Dennison has an average rating of "Moderate Buy" and an average target price 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.

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