Avery Dennison Corporation (NYSE:AVY) Shares Sold by Cerity Partners LLC

Cerity Partners LLC lessened its stake in Avery Dennison Corporation (NYSE:AVY - Free Report) by 4.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 79,498 shares of the industrial products company's stock after selling 3,362 shares during the period. Cerity Partners LLC owned 0.10% of Avery Dennison worth $14,148,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. American National Bank & Trust purchased a new stake in shares of Avery Dennison during the first quarter worth about $49,000. Grove Bank & Trust lifted its position in Avery Dennison by 17.7% during the 1st quarter. Grove Bank & Trust now owns 393 shares of the industrial products company's stock worth $70,000 after acquiring an additional 59 shares during the period. Abound Financial LLC purchased a new stake in Avery Dennison during the 1st quarter valued at about $71,000. Farther Finance Advisors LLC increased its holdings in shares of Avery Dennison by 49.8% in the fourth quarter. Farther Finance Advisors LLC now owns 409 shares of the industrial products company's stock valued at $77,000 after purchasing an additional 136 shares during the period. Finally, Jones Financial Companies Lllp raised its stake in shares of Avery Dennison by 64.6% in the fourth quarter. Jones Financial Companies Lllp now owns 423 shares of the industrial products company's stock worth $79,000 after purchasing an additional 166 shares during the last quarter. 94.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on AVY shares. Jefferies Financial Group started coverage on shares of Avery Dennison in a report on Tuesday, April 22nd. They issued a "hold" rating and a $175.00 price target on the stock. Truist Financial cut their price objective on shares of Avery Dennison from $215.00 to $210.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Raymond James Financial boosted their target price on shares of Avery Dennison from $194.00 to $200.00 and gave the company an "outperform" rating in a research report on Tuesday. UBS Group cut their price target on Avery Dennison from $207.00 to $189.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. Finally, BMO Capital Markets lowered their target price on Avery Dennison from $226.00 to $216.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $197.50.

Avery Dennison Price Performance

Shares of AVY stock traded down $3.34 during trading hours on Tuesday, hitting $177.11. 419,794 shares of the company's stock were exchanged, compared to its average volume of 649,952. Avery Dennison Corporation has a fifty-two week low of $157.00 and a fifty-two week high of $233.48. The firm has a market cap of $13.85 billion, a P/E ratio of 20.40, a P/E/G ratio of 2.53 and a beta of 0.87. The company has a quick ratio of 0.68, a current ratio of 1.03 and a debt-to-equity ratio of 1.19. The firm has a 50 day moving average of $178.84 and a two-hundred day moving average of $179.72.

Avery Dennison (NYSE:AVY - Get Free Report) last posted 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 company had revenue of $2.15 billion for the quarter, compared to analysts' expectations of $2.15 billion. During the same period in the previous year, the business earned $2.29 earnings per share. The business's revenue for the quarter was down .1% on a year-over-year basis. Sell-side analysts forecast that Avery Dennison Corporation will post 9.96 EPS for the current year.

Avery Dennison Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were paid a dividend of $0.94 per share. This is a positive change from Avery Dennison's previous quarterly dividend of $0.88. This represents a $3.76 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend was Wednesday, June 4th. Avery Dennison's payout ratio is 43.32%.

Avery Dennison 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.