City Holding Co. Lowers Holdings in Avery Dennison Corporation $AVY

Key Points

• City Holding Co. reduced its stake in Avery Dennison Corp. by 28.8% in the 2nd quarter, resulting in ownership of 3,925 shares valued at approximately $689,000.
• Avery Dennison reported earnings per share of $2.42 for the last quarter, exceeding analyst expectations, despite a 0.7% year-over-year revenue decline.
• The company announced a quarterly dividend of $0.94, translating to an annual yield of 2.3%, with a payout ratio of 42.20%.

City Holding Co. reduced its position in shares of Avery Dennison Corporation (NYSE:AVY - Free Report) by 28.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,925 shares of the industrial products company's stock after selling 1,591 shares during the quarter. City Holding Co.'s holdings in Avery Dennison were worth $689,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of AVY. Bayforest Capital Ltd purchased a new stake in shares of Avery Dennison during the 1st quarter worth about $27,000. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Avery Dennison by 193.1% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 170 shares of the industrial products company's stock worth $30,000 after acquiring an additional 112 shares in the last quarter. SouthState Corp boosted its stake in shares of Avery Dennison by 195.7% during the 1st quarter. SouthState Corp now owns 207 shares of the industrial products company's stock worth $37,000 after acquiring an additional 137 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Avery Dennison by 70.2% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 211 shares of the industrial products company's stock worth $37,000 after acquiring an additional 87 shares in the last quarter. Finally, Costello Asset Management INC purchased a new stake in shares of Avery Dennison during the 1st quarter worth about $40,000. 94.17% of the stock is owned by hedge funds and other institutional investors.

Avery Dennison Trading Up 1.4%

AVY opened at $160.86 on Monday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.04 and a quick ratio of 0.70. The company's 50 day simple moving average is $170.40 and its two-hundred day simple moving average is $174.19. Avery Dennison Corporation has a 1-year low of $157.00 and a 1-year high of $224.38. The firm has a market capitalization of $12.54 billion, a price-to-earnings ratio of 18.05, a price-to-earnings-growth ratio of 2.47 and a beta of 0.90.

Avery Dennison (NYSE:AVY - Get Free Report) last released its earnings results on Tuesday, July 22nd. The industrial products company reported $2.42 earnings per share for the quarter, topping analysts' consensus estimates of $2.38 by $0.04. Avery Dennison had a net margin of 8.14% and a return on equity of 33.14%. The business had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.23 billion. During the same period last year, the company posted $2.42 EPS. The business's revenue was down .7% on a year-over-year basis. Avery Dennison has set its Q3 2025 guidance at 2.240-2.40 EPS. Analysts expect that Avery Dennison Corporation will post 9.96 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd were paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Wednesday, September 3rd. Avery Dennison's dividend payout ratio (DPR) is 42.20%.

Wall Street Analysts Forecast Growth

AVY has been the topic of several recent analyst reports. Citigroup increased their target price on shares of Avery Dennison from $177.00 to $185.00 and gave the stock a "neutral" rating in a research note on Friday, July 11th. Bank of America upped their price target on shares of Avery Dennison from $195.00 to $208.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. JPMorgan Chase & Co. upped their price target on shares of Avery Dennison from $172.00 to $182.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Raymond James Financial upped their price target on shares of Avery Dennison from $194.00 to $200.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Finally, BMO Capital Markets restated an "outperform" rating and set a $207.00 price target (down previously from $216.00) on shares of Avery Dennison in a research report on Wednesday, July 23rd. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $197.60.

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.

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