DAVENPORT & Co LLC Boosts Stake in Avery Dennison Corporation (NYSE:AVY)

DAVENPORT & Co LLC boosted its position in Avery Dennison Corporation (NYSE:AVY - Free Report) by 905.0% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 324,095 shares of the industrial products company's stock after purchasing an additional 291,848 shares during the period. DAVENPORT & Co LLC owned about 0.41% of Avery Dennison worth $57,503,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in AVY. Metis Global Partners LLC grew its position in shares of Avery Dennison by 4.1% during the 4th quarter. Metis Global Partners LLC now owns 7,609 shares of the industrial products company's stock valued at $1,424,000 after acquiring an additional 298 shares during the period. Jones Financial Companies Lllp grew its position in shares of Avery Dennison by 64.6% during the 4th quarter. Jones Financial Companies Lllp now owns 423 shares of the industrial products company's stock valued at $79,000 after acquiring an additional 166 shares during the period. Steward Partners Investment Advisory LLC grew its position in shares of Avery Dennison by 15.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,340 shares of the industrial products company's stock valued at $251,000 after acquiring an additional 175 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Avery Dennison by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 699,091 shares of the industrial products company's stock valued at $130,821,000 after acquiring an additional 10,674 shares during the period. Finally, Bahl & Gaynor Inc. grew its position in shares of Avery Dennison by 19.7% during the 4th quarter. Bahl & Gaynor Inc. now owns 339,349 shares of the industrial products company's stock valued at $63,502,000 after acquiring an additional 55,810 shares during the period. 94.17% of the stock is owned by institutional investors.

Avery Dennison Price Performance

NYSE AVY traded down $0.19 on Thursday, hitting $183.24. The stock had a trading volume of 339,849 shares, compared to its average volume of 650,308. Avery Dennison Corporation has a 52-week low of $157.00 and a 52-week high of $233.48. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.68 and a current ratio of 1.03. The company has a market capitalization of $14.33 billion, a price-to-earnings ratio of 21.11, a price-to-earnings-growth ratio of 2.94 and a beta of 0.87. The firm has a 50-day moving average of $177.03 and a 200-day moving average of $180.21.

Avery Dennison (NYSE:AVY - Get Free Report) last posted its earnings results 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 return on equity of 33.11% and a net margin of 7.98%. The firm had revenue of $2.15 billion during the quarter, compared to analysts' expectations of $2.15 billion. During the same quarter in the prior year, the company earned $2.29 earnings per share. The business's revenue for the quarter was down .1% compared to the same quarter last year. Equities analysts expect that Avery Dennison Corporation will post 9.96 EPS for the current year.

Avery Dennison Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were paid a $0.94 dividend. The ex-dividend date was Wednesday, June 4th. This is a boost from Avery Dennison's previous quarterly dividend of $0.88. This represents a $3.76 annualized dividend and a yield of 2.05%. Avery Dennison's dividend payout ratio is currently 43.32%.

Analyst Ratings Changes

AVY has been the subject of a number of research reports. BMO Capital Markets reduced their target price on shares of Avery Dennison from $226.00 to $216.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Raymond James Financial reduced their target price on shares of Avery Dennison from $208.00 to $194.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. UBS Group dropped their price target on shares of Avery Dennison from $207.00 to $189.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. JPMorgan Chase & Co. cut shares of Avery Dennison from an "overweight" rating to a "neutral" rating and dropped their price target for the company from $205.00 to $172.00 in a research note on Thursday, April 24th. Finally, Jefferies Financial Group initiated coverage on shares of Avery Dennison in a research note on Tuesday, April 22nd. They set a "hold" rating and a $175.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, Avery Dennison presently has a consensus rating of "Moderate Buy" and an average target price of $206.60.

Avery Dennison Company 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.