Bank of Nova Scotia Takes Position in Avery Dennison Corporation $AVY

Key Points

• Bank of Nova Scotia acquired 25,452 Avery Dennison shares in the second quarter, valued at approximately $4.13 million. Institutional investors now own 94.17% of the company.
• Analysts maintain a generally positive outlook, with seven Buy ratings and two Holds, producing a “Moderate Buy” consensus and an average price target of $201.22.
• Avery Dennison reported quarterly EPS of $2.89, beating estimates by $0.42, while revenue rose 10.9% year over year to $2.46 billion. The company also declared a quarterly dividend of $1.00 per share, equivalent to a 2.2% annual yield.

Bank of Nova Scotia bought a new position in Avery Dennison Corporation (NYSE:AVY - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 25,452 shares of the industrial products company's stock, valued at approximately $4,132,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AVY. BlackRock Inc. bought a new stake in Avery Dennison during the second quarter worth approximately $1,052,464,000. Norges Bank bought a new stake in shares of Avery Dennison in the 4th quarter valued at approximately $188,438,000. Morgan Stanley boosted its holdings in shares of Avery Dennison by 20.1% in the 4th quarter. Morgan Stanley now owns 3,869,889 shares of the industrial products company's stock worth $703,856,000 after purchasing an additional 647,795 shares during the period. Wellington Management Group LLP increased its position in shares of Avery Dennison by 12.5% during the 3rd quarter. Wellington Management Group LLP now owns 5,808,960 shares of the industrial products company's stock valued at $942,039,000 after purchasing an additional 644,664 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of Avery Dennison during the 2nd quarter valued at approximately $101,896,000. 94.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AVY has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their target price on shares of Avery Dennison from $185.00 to $190.00 and gave the company an "overweight" rating in a research note on Friday, July 31st. Truist Financial dropped their price target on shares of Avery Dennison from $221.00 to $209.00 and set a "buy" rating for the company in a research note on Wednesday, July 15th. Bank of America reiterated a "buy" rating on shares of Avery Dennison in a report on Friday, August 14th. Argus set a $175.00 price objective on shares of Avery Dennison in a research report on Thursday, June 4th. Finally, Wall Street Zen raised shares of Avery Dennison from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $201.22.

Avery Dennison Stock Down 1.9%

Shares of Avery Dennison stock opened at $180.12 on Wednesday. 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 stock has a market cap of $13.65 billion, a price-to-earnings ratio of 19.73, a PEG ratio of 2.34 and a beta of 0.81. The firm's 50-day moving average is $167.64 and its two-hundred day moving average is $170.09. 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 announced its earnings results on Thursday, July 30th. The industrial products company reported $2.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.42. Avery Dennison had a return on equity of 34.60% and a net margin of 7.62%.The business had revenue of $2.46 billion for the quarter, compared to analysts' expectations of $2.30 billion. During the same quarter last year, the firm earned $2.42 EPS. The business's revenue for the quarter was up 10.9% on a year-over-year basis. Avery Dennison has set its Q3 2026 guidance at 10.000-10.300 EPS. As a group, research analysts expect that Avery Dennison Corporation will post 10.15 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

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

Insider Buying and Selling

In other Avery Dennison news, SVP Ignacio J. Walker sold 1,742 shares of the firm's stock in a transaction that occurred on Tuesday, August 4th. The shares were 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 of the company's stock, valued at approximately $1,301,661.85. This trade represents a 18.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.81% of the company's stock.

About Avery Dennison

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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