CIBC Asset Management Inc Grows Stake in Avery Dennison Corporation $AVY

Key Points

• CIBC Asset Management increased its stake in Avery Dennison by 71.1% in the fourth quarter, adding 8,690 shares and bringing its total holding to 20,909 shares worth about $3.8 million.
• Wall Street remains generally constructive on AVY, with eight analysts rating it a Buy and two a Hold; the stock’s consensus target price is about $201.33.
• Avery Dennison reported stronger-than-expected quarterly results, including $2.47 EPS versus the $2.41 estimate, and it also raised its quarterly dividend to $1.00 per share.

CIBC Asset Management Inc grew its holdings in Avery Dennison Corporation (NYSE:AVY - Free Report) by 71.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 20,909 shares of the industrial products company's stock after buying an additional 8,690 shares during the quarter. CIBC Asset Management Inc's holdings in Avery Dennison were worth $3,803,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Bridges Investment Management Inc. purchased a new stake in Avery Dennison in the 4th quarter worth approximately $1,022,000. Peak Retirement Planning Inc. purchased a new stake in Avery Dennison in the 4th quarter worth approximately $1,956,000. Root Financial Partners LLC lifted its holdings in Avery Dennison by 60.8% in the 4th quarter. Root Financial Partners LLC now owns 193 shares of the industrial products company's stock worth $35,000 after buying an additional 73 shares during the period. Peapack Gladstone Financial Corp lifted its stake in shares of Avery Dennison by 0.4% in the 4th quarter. Peapack Gladstone Financial Corp now owns 88,123 shares of the industrial products company's stock valued at $16,027,000 after purchasing an additional 367 shares during the period. Finally, Nomura Asset Management Co. Ltd. lifted its stake in shares of Avery Dennison by 159.5% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 73,412 shares of the industrial products company's stock valued at $13,352,000 after purchasing an additional 45,120 shares during the period. Hedge funds and other institutional investors own 94.17% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on AVY shares. Argus set a $175.00 target price on Avery Dennison in a research note on Thursday. UBS Group lowered their target price on Avery Dennison from $226.00 to $222.00 and set a "buy" rating for the company in a research note on Friday, April 10th. Citigroup lowered their target price on Avery Dennison from $190.00 to $185.00 and set a "neutral" rating for the company in a research note on Thursday, April 30th. Deutsche Bank Aktiengesellschaft started coverage on Avery Dennison in a research note on Wednesday, April 1st. They issued a "buy" rating and a $200.00 target price for the company. Finally, JPMorgan Chase & Co. lowered their target price on Avery Dennison from $205.00 to $185.00 and set an "overweight" rating for the company in a research note on Wednesday, April 29th. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $201.33.

Insiders Place Their Bets

In other Avery Dennison news, Director Mitchell R. Butier sold 20,000 shares of Avery Dennison stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $173.88, for a total value of $3,477,600.00. Following the completion of the sale, the director owned 211,147 shares of the company's stock, valued at approximately $36,714,240.36. This trade represents a 8.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.81% of the stock is currently owned by company insiders.

Avery Dennison Stock Up 0.1%

AVY stock opened at $155.34 on Monday. Avery Dennison Corporation has a twelve month low of $152.55 and a twelve month high of $199.54. The company has a quick ratio of 0.80, a current ratio of 1.15 and a debt-to-equity ratio of 1.38. The firm has a market cap of $11.88 billion, a PE ratio of 17.51, a price-to-earnings-growth ratio of 2.67 and a beta of 0.82. The business has a 50 day moving average of $164.45 and a 200 day moving average of $175.90.

Avery Dennison (NYSE:AVY - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The industrial products company reported $2.47 earnings per share for the quarter, beating analysts' consensus estimates of $2.41 by $0.06. Avery Dennison had a return on equity of 33.69% and a net margin of 7.66%.The company had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same quarter last year, the company earned $2.30 EPS. The firm's revenue for the quarter was up 7.0% on a year-over-year basis. Avery Dennison has set its Q2 2026 guidance at 2.430-2.53 EPS. On average, research analysts forecast that Avery Dennison Corporation will post 10.05 EPS for the current fiscal year.

Avery Dennison Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd will be given a dividend of $1.00 per share. This is a boost from Avery Dennison's previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $4.00 dividend on an annualized basis and a yield of 2.6%. Avery Dennison's dividend payout ratio is 45.10%.

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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