Bank of New York Mellon Corp Acquires Shares of 627,629 Avery Dennison Corporation $AVY

Bank of New York Mellon Corp bought a new position in shares of Avery Dennison Corporation (NYSE:AVY - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 627,629 shares of the industrial products company's stock, valued at approximately $101,896,000. Bank of New York Mellon Corp owned approximately 0.82% of Avery Dennison as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Kelleher Financial Advisors acquired a new position in Avery Dennison in the 2nd quarter valued at $173,000. Revolve Wealth Partners LLC acquired a new stake in shares of Avery Dennison during the 2nd quarter worth $591,000. Franklin Street Advisors Inc. NC increased its position in shares of Avery Dennison by 12.2% in the second quarter. Franklin Street Advisors Inc. NC now owns 2,757 shares of the industrial products company's stock worth $448,000 after purchasing an additional 299 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Avery Dennison in the second quarter worth $40,000. Finally, Elevation Wealth Partners LLC raised its stake in Avery Dennison by 684.0% in the second quarter. Elevation Wealth Partners LLC now owns 196 shares of the industrial products company's stock valued at $32,000 after purchasing an additional 171 shares in the last quarter. 94.17% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of Avery Dennison from $185.00 to $190.00 and gave the company an "overweight" rating in a research report on Friday, July 31st. Weiss Ratings upgraded shares of Avery Dennison from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, August 11th. Truist Financial decreased their price objective on shares of Avery Dennison from $221.00 to $209.00 and set a "buy" rating on the stock in a research note on Wednesday, July 15th. Bank of America restated a "buy" rating on shares of Avery Dennison in a research report on Friday, August 14th. Finally, Wall Street Zen raised Avery Dennison from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $201.22.

Avery Dennison Price Performance

AVY stock opened at $183.78 on Tuesday. The stock has a market cap of $13.93 billion, a price-to-earnings ratio of 20.13, a P/E/G ratio of 3.01 and a beta of 0.81. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.13 and a quick ratio of 0.79. The company has a 50 day simple moving average of $167.28 and a 200 day simple moving average of $170.18. Avery Dennison Corporation has a 1 year low of $152.42 and a 1 year high of $199.54.

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

Avery Dennison Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, September 2nd will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $4.00 annualized dividend and a dividend yield of 2.2%. Avery Dennison's dividend payout ratio (DPR) is 43.81%.

Insiders Place Their Bets

In other Avery Dennison news, SVP Ignacio J. Walker sold 1,742 shares of the company's stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $171.61, for a total value of $298,944.62. Following the completion of the transaction, the senior vice president owned 7,585 shares of the company's stock, valued at $1,301,661.85. This represents a 18.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.81% of the stock is owned by corporate insiders.

Avery Dennison Profile

Avery Dennison NYSE: AVY is a global materials science and manufacturing company specializing in labeling and packaging solutions. The company develops pressure-sensitive materials, tags and labels, and adhesive technologies that help brands and businesses enhance product identification, branding and supply-chain performance. Avery Dennison's offerings range from industrial and retail labeling to high-performance tapes, films and graphics materials used across multiple end markets.

The company operates through several key segments, including Label and Graphic Materials, which supplies pressure-sensitive materials for consumer goods; Retail Branding and Information Solutions, offering apparel tags, RFID inlays and digital product identification; Pressure-Sensitive Materials, providing specialty tapes and adhesives; and RF Technologies, focused on advanced RFID and IoT labeling solutions.

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