National Bank of Canada FI Has $11.06 Million Stock Holdings in Avery Dennison Corporation (NYSE:AVY)

National Bank of Canada FI increased its position in shares of Avery Dennison Corporation (NYSE:AVY - Free Report) by 65.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 62,125 shares of the industrial products company's stock after acquiring an additional 24,508 shares during the quarter. National Bank of Canada FI owned approximately 0.08% of Avery Dennison worth $11,056,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC raised its stake in shares of Avery Dennison by 19,370.0% in the 1st quarter. GAMMA Investing LLC now owns 428,730 shares of the industrial products company's stock valued at $76,301,000 after acquiring an additional 426,528 shares during the period. DAVENPORT & Co LLC increased its position in shares of Avery Dennison by 905.0% in the 1st quarter. DAVENPORT & Co LLC now owns 324,095 shares of the industrial products company's stock worth $57,503,000 after purchasing an additional 291,848 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Avery Dennison by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 9,959,263 shares of the industrial products company's stock worth $1,772,450,000 after purchasing an additional 277,554 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Avery Dennison in the 4th quarter worth about $51,521,000. Finally, Ameriprise Financial Inc. increased its position in shares of Avery Dennison by 12.9% in the 4th quarter. Ameriprise Financial Inc. now owns 2,185,732 shares of the industrial products company's stock worth $409,014,000 after purchasing an additional 250,359 shares during the last quarter. Institutional investors and hedge funds own 94.17% of the company's stock.

Analyst Ratings Changes

AVY has been the subject of several research analyst reports. Truist Financial dropped 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 report on Tuesday, April 22nd. Bank of America boosted their target price on shares of Avery Dennison from $195.00 to $208.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Wall Street Zen raised shares of Avery Dennison from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. BMO Capital Markets reaffirmed an "outperform" rating and issued a $207.00 price target (down from $216.00) on shares of Avery Dennison in a research note on Wednesday, July 23rd. Finally, Barclays reduced their price target 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. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $197.60.

Avery Dennison Trading Down 1.7%

Shares of AVY stock traded down $3.04 during trading hours on Friday, reaching $174.72. 513,843 shares of the stock traded hands, compared to its average volume of 750,249. The firm has a market capitalization of $13.62 billion, a PE ratio of 19.61, a PEG ratio of 2.76 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 company has a quick ratio of 0.70, a current ratio of 1.04 and a debt-to-equity ratio of 1.19. The business has a fifty day moving average price of $176.77 and a 200 day moving average price of $177.50.

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 for the quarter, beating the consensus estimate of $2.38 by $0.04. The firm had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.23 billion. Avery Dennison had a return on equity of 33.14% and a net margin of 8.14%. Avery Dennison's quarterly revenue was down .7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.42 earnings per share. On average, equities research analysts forecast that Avery Dennison Corporation will post 9.96 EPS for the current year.

Avery Dennison Announces Dividend

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

Avery Dennison Company 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.