Bank of America Corp DE Invests $142.17 Million in Avery Dennison Corporation $AVY

Key Points

• Bank of America acquired 875,697 Avery Dennison shares worth approximately $142.2 million, giving it a 1.16% stake. Institutional investors collectively own 94.17% of the company.
• Avery Dennison reported quarterly EPS of $2.89, beating estimates by $0.42, while revenue reached $2.46 billion and increased 10.9% year over year.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $201.22, compared with the stock’s reported price of $170.98. The company also pays a $1.00 quarterly dividend, yielding about 2.3% annually.

Bank of America Corp DE acquired a new position in shares of Avery Dennison Corporation (NYSE:AVY - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 875,697 shares of the industrial products company's stock, valued at approximately $142,169,000. Bank of America Corp DE owned approximately 1.16% of Avery Dennison as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently bought and sold shares of AVY. BlackRock Inc. bought a new stake in shares of Avery Dennison in the 2nd quarter valued at about $1,052,464,000. Norges Bank bought a new position in shares of Avery Dennison during the 4th quarter worth approximately $188,438,000. The Manufacturers Life Insurance Company acquired a new position in shares of Avery Dennison during the 2nd quarter worth approximately $118,728,000. Bank of New York Mellon Corp bought a new stake in Avery Dennison in the 2nd quarter valued at $101,896,000. Finally, Cooke & Bieler LP bought a new stake in Avery Dennison in the 4th quarter valued at $105,616,000. Institutional investors own 94.17% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on AVY shares. JPMorgan Chase & Co. increased their price target on shares of Avery Dennison from $185.00 to $190.00 and gave the company an "overweight" rating in a report on Friday, July 31st. UBS Group upped their price objective on Avery Dennison from $218.00 to $225.00 and gave the company a "buy" rating in a report on Friday, July 31st. Citigroup upped their price target on shares of Avery Dennison from $184.00 to $186.00 and gave the company a "neutral" rating in a research note on Friday, July 31st. Argus set a $175.00 price target on Avery Dennison in a research note on Thursday, June 4th. Finally, Weiss Ratings upgraded Avery Dennison from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, August 11th. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $201.22.

Avery Dennison Stock Down 0.8%

AVY stock opened at $170.98 on Friday. The stock has a market capitalization of $12.96 billion, a P/E ratio of 18.73, a price-to-earnings-growth ratio of 2.08 and a beta of 0.81. The company has a current ratio of 1.13, a quick ratio of 0.79 and a debt-to-equity ratio of 1.37. The firm has a 50-day moving average price of $171.53 and a 200-day moving average price of $167.62. Avery Dennison Corporation has a 12 month low of $152.42 and a 12 month high of $199.54.

Avery Dennison (NYSE:AVY - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The industrial products company reported $2.89 EPS for the quarter, beating the consensus estimate of $2.47 by $0.42. The business had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.30 billion. Avery Dennison had a net margin of 7.62% and a return on equity of 34.60%. The firm's revenue was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.42 EPS. Avery Dennison has set its Q3 2026 guidance at 10.000-10.300 EPS. As a group, equities research analysts anticipate that Avery Dennison Corporation will post 10.15 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 16th. Investors of record on Wednesday, September 2nd were paid a $1.00 dividend. The ex-dividend date of this dividend was Wednesday, September 2nd. This represents a $4.00 annualized dividend and a dividend yield of 2.3%. Avery Dennison's payout ratio is currently 43.81%.

Insiders Place Their Bets

In other news, SVP Ignacio J. Walker sold 1,742 shares of the firm's stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $171.61, for a total transaction of $298,944.62. Following the completion of the transaction, the senior vice president directly owned 7,585 shares in the company, valued at $1,301,661.85. This trade represents a 18.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Nicholas Colisto sold 3,886 shares of Avery Dennison stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $170.68, for a total value of $663,262.48. Following the completion of the transaction, the senior vice president directly owned 7,126 shares in the company, valued at approximately $1,216,265.68. This represents a 35.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.81% of the company's stock.

Avery Dennison Profile

Avery Dennison Corporation NYSE: AVY is a global materials science and manufacturing company that develops labeling, packaging, graphics, and functional material solutions. Its products are used by businesses in industries including retail, apparel, food and beverage, logistics, healthcare, automotive, and industrial manufacturing.

The company's offerings include pressure-sensitive label and packaging materials, graphic films, reflective materials, specialty tapes, performance polymers, and other adhesive products.

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