Corient Private Wealth LP Acquires 59,109 Shares of Avery Dennison Corporation $AVY

Key Points

• Corient Private Wealth LP nearly doubled its Avery Dennison stake, purchasing 59,109 additional shares in the second quarter and bringing its holdings to 124,011 shares valued at approximately $20.1 million.
• Institutional ownership remains high at 94.17%, while analysts maintain a “Moderate Buy” consensus with an average price target of $201.22.
• Avery Dennison reported stronger-than-expected quarterly results, with EPS of $2.89 and revenue of $2.46 billion, and declared a quarterly dividend of $1.00 per share, representing a 2.3% yield.

Corient Private Wealth LP lifted its stake in shares of Avery Dennison Corporation (NYSE:AVY - Free Report) by 91.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 124,011 shares of the industrial products company's stock after buying an additional 59,109 shares during the period. Corient Private Wealth LP owned about 0.16% of Avery Dennison worth $20,133,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. California State Teachers Retirement System boosted its stake in shares of Avery Dennison by 17,665.0% in the 2nd quarter. California State Teachers Retirement System now owns 31,738,613 shares of the industrial products company's stock worth $5,152,764,000 after buying an additional 31,559,955 shares during the last quarter. BlackRock Inc. purchased a new stake in shares of Avery Dennison during the 2nd quarter valued at $1,052,464,000. Wellington Management Group LLP raised its stake in shares of Avery Dennison by 9.1% during the 2nd quarter. Wellington Management Group LLP now owns 5,788,479 shares of the industrial products company's stock worth $939,760,000 after purchasing an additional 482,054 shares during the period. Norges Bank bought a new position in Avery Dennison during the fourth quarter valued at about $188,438,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Avery Dennison by 1.9% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 956,886 shares of the industrial products company's stock worth $155,350,000 after buying an additional 17,769 shares during the last quarter. 94.17% of the stock is owned by institutional investors.

Analyst Ratings Changes

AVY has been the subject of a number of research reports. Bank of America reissued a "buy" rating on shares of Avery Dennison in a research report on Friday, August 14th. Truist Financial dropped their price objective on Avery Dennison from $221.00 to $209.00 and set a "buy" rating on the stock in a research note on Wednesday, July 15th. JPMorgan Chase & Co. increased their price objective on Avery Dennison from $185.00 to $190.00 and gave the company an "overweight" rating in a report on Friday, July 31st. Citigroup raised their target price on Avery Dennison from $184.00 to $186.00 and gave the stock a "neutral" rating in a research report on Friday, July 31st. Finally, Weiss Ratings upgraded Avery Dennison from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 11th. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $201.22.

Avery Dennison Stock Performance

Avery Dennison stock opened at $171.05 on Tuesday. Avery Dennison Corporation has a 1-year low of $152.42 and a 1-year high of $199.54. The company has a current ratio of 1.13, a quick ratio of 0.79 and a debt-to-equity ratio of 1.37. The firm has a market capitalization of $12.96 billion, a PE ratio of 18.74, a price-to-earnings-growth ratio of 2.05 and a beta of 0.81. The firm's 50 day simple moving average is $170.86 and its 200 day simple moving average is $168.09.

Avery Dennison (NYSE:AVY - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The industrial products company reported $2.89 EPS for the quarter, beating the consensus estimate of $2.47 by $0.42. The firm had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.30 billion. Avery Dennison had a net margin of 7.62% and a return on equity of 34.60%. The business's quarterly revenue was up 10.9% compared to the same quarter last year. During the same period last year, the firm earned $2.42 EPS. Avery Dennison has set its Q3 2026 guidance at 10.000-10.300 EPS. As a group, analysts expect that Avery Dennison Corporation will post 10.15 earnings per share for the current fiscal year.

Avery Dennison Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, September 2nd will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $4.00 annualized dividend and a yield of 2.3%. Avery Dennison's dividend payout ratio (DPR) is currently 43.81%.

Insider Buying and Selling

In other Avery Dennison news, SVP Ignacio Walker sold 1,742 shares of the company's stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $171.61, for a total value of $298,944.62. Following the transaction, the senior vice president directly owned 7,585 shares in the company, valued at $1,301,661.85. This represents a 18.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.81% of the stock is currently owned by insiders.

About Avery Dennison

Avery Dennison Corporation NYSE: AVY is a global materials science and manufacturing company that develops labeling, packaging, graphics, and functional material solutions. Its products are used by businesses in industries including retail, apparel, food and beverage, logistics, healthcare, automotive, and industrial manufacturing.

The company's offerings include pressure-sensitive label and packaging materials, graphic films, reflective materials, specialty tapes, performance polymers, and other adhesive products.

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