Cwm LLC Boosts Stake in Avery Dennison Corporation $AVY

Key Points

• Cwm LLC increased its stake in Avery Dennison Corporation by 55.8% during Q2, holding 5,826 shares valued at approximately $1,022,000 according to the latest SEC filing.
• Analysts have mixed ratings on Avery Dennison, with UBS lowering its price target and Bank of America increasing theirs, resulting in an average rating of "Moderate Buy" and a consensus target price of $195.30.
• Avery Dennison declared a quarterly dividend of $0.94, yielding 2.3%, with a payout ratio of 42.20%, and reported a slight decline in quarterly revenue compared to the previous year.

Cwm LLC lifted its stake in Avery Dennison Corporation (NYSE:AVY - Free Report) by 55.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,826 shares of the industrial products company's stock after purchasing an additional 2,086 shares during the quarter. Cwm LLC's holdings in Avery Dennison were worth $1,022,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. UBS Group lowered their price objective on Avery Dennison from $188.00 to $181.00 and set a "neutral" rating on the stock in a research report on Monday, October 6th. Bank of America upped their price objective on Avery Dennison from $195.00 to $208.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Citigroup lowered their price target on Avery Dennison from $191.00 to $177.00 and set a "neutral" rating on the stock in a report on Monday, September 29th. Weiss Ratings reissued a "hold (c-)" rating on shares of Avery Dennison in a report on Tuesday, October 14th. Finally, BMO Capital Markets restated an "outperform" rating and issued a $207.00 price objective (down from $216.00) on shares of Avery Dennison in a research note on Wednesday, July 23rd. Six equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $195.30.

Avery Dennison Price Performance

NYSE:AVY opened at $163.67 on Wednesday. The company has a quick ratio of 0.70, a current ratio of 1.04 and a debt-to-equity ratio of 1.19. The business's 50-day simple moving average is $166.42 and its two-hundred day simple moving average is $172.27. The stock has a market cap of $12.76 billion, a PE ratio of 18.37, a P/E/G ratio of 2.37 and a beta of 0.95. Avery Dennison Corporation has a 52 week low of $156.23 and a 52 week high of $220.02.

Avery Dennison (NYSE:AVY - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The industrial products company reported $2.42 earnings per share for the quarter, beating analysts' consensus estimates of $2.38 by $0.04. The firm had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.23 billion. Avery Dennison had a return on equity of 33.14% and a net margin of 8.14%.The business's quarterly revenue was down .7% compared to the same quarter last year. During the same quarter last year, the business posted $2.42 earnings per share. As a group, analysts forecast that Avery Dennison Corporation will post 9.96 EPS for the current fiscal year.

Avery Dennison Announces Dividend

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

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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