Cambridge Investment Research Advisors Inc. Has $453,000 Holdings in Avery Dennison Corporation (NYSE:AVY)

Cambridge Investment Research Advisors Inc. lessened its stake in Avery Dennison Corporation (NYSE:AVY - Free Report) by 61.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,547 shares of the industrial products company's stock after selling 3,991 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in Avery Dennison were worth $453,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AVY. Jones Financial Companies Lllp boosted its stake in Avery Dennison by 64.6% during the fourth quarter. Jones Financial Companies Lllp now owns 423 shares of the industrial products company's stock valued at $79,000 after buying an additional 166 shares in the last quarter. Steward Partners Investment Advisory LLC increased its holdings in shares of Avery Dennison by 15.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,340 shares of the industrial products company's stock valued at $251,000 after acquiring an additional 175 shares during the last quarter. Assetmark Inc. increased its holdings in shares of Avery Dennison by 22.5% during the 4th quarter. Assetmark Inc. now owns 397 shares of the industrial products company's stock valued at $74,000 after acquiring an additional 73 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in Avery Dennison in the 4th quarter valued at approximately $12,730,000. Finally, Daiwa Securities Group Inc. grew its holdings in Avery Dennison by 7.1% in the 4th quarter. Daiwa Securities Group Inc. now owns 10,615 shares of the industrial products company's stock valued at $1,986,000 after buying an additional 701 shares during the last quarter. Hedge funds and other institutional investors own 94.17% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Citigroup lifted their price objective on Avery Dennison from $177.00 to $185.00 and gave the stock a "neutral" rating in a report on Friday. Jefferies Financial Group assumed coverage on Avery Dennison in a report on Tuesday, April 22nd. They set a "hold" rating and a $175.00 price objective on the stock. Truist Financial decreased their price objective on Avery Dennison from $215.00 to $210.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Raymond James Financial decreased their price objective on Avery Dennison from $208.00 to $194.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Finally, Bank of America raised their target price on Avery Dennison from $195.00 to $208.00 and gave the stock a "buy" rating in a research report on Wednesday. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $196.90.

Avery Dennison Price Performance

AVY traded down $2.43 during trading on Friday, hitting $182.20. The company's stock had a trading volume of 487,015 shares, compared to its average volume of 650,929. The firm's 50 day moving average price is $178.65 and its two-hundred day moving average price is $179.77. The company has a quick ratio of 0.68, a current ratio of 1.03 and a debt-to-equity ratio of 1.19. Avery Dennison Corporation has a 12 month low of $157.00 and a 12 month high of $233.48. The stock has a market capitalization of $14.24 billion, a price-to-earnings ratio of 20.99, a price-to-earnings-growth ratio of 2.56 and a beta of 0.87.

Avery Dennison (NYSE:AVY - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The industrial products company reported $2.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.32 by ($0.02). Avery Dennison had a net margin of 7.98% and a return on equity of 33.11%. The business had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter in the previous year, the firm posted $2.29 EPS. The company's revenue for the quarter was down .1% compared to the same quarter last year. Sell-side analysts forecast that Avery Dennison Corporation will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were paid a $0.94 dividend. This is a boost from Avery Dennison's previous quarterly dividend of $0.88. This represents a $3.76 annualized dividend and a dividend yield of 2.06%. The ex-dividend date was Wednesday, June 4th. Avery Dennison's dividend payout ratio (DPR) is 43.32%.

About Avery Dennison

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.