DAVENPORT & Co LLC Lowers Stock Position in Avery Dennison Corporation $AVY

Key Points

• DAVENPORT & Co LLC reduced its stake in Avery Dennison Corporation by 8.3%, now owning 297,160 shares worth approximately $52 million.
• Avery Dennison reported a quarterly EPS of $2.42, exceeding analyst estimates, but its revenue fell by 0.7% on a year-over-year basis to $2.22 billion.
• The company declared a quarterly dividend of $0.94 per share, with an annual yield of 2.3%.

DAVENPORT & Co LLC cut its position in shares of Avery Dennison Corporation (NYSE:AVY - Free Report) by 8.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 297,160 shares of the industrial products company's stock after selling 26,935 shares during the quarter. DAVENPORT & Co LLC owned approximately 0.38% of Avery Dennison worth $52,156,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AVY. Merit Financial Group LLC boosted its stake in shares of Avery Dennison by 43.6% in the 1st quarter. Merit Financial Group LLC now owns 1,557 shares of the industrial products company's stock worth $277,000 after buying an additional 473 shares during the last quarter. Radnor Capital Management LLC lifted its holdings in Avery Dennison by 11.2% during the first quarter. Radnor Capital Management LLC now owns 2,390 shares of the industrial products company's stock worth $425,000 after acquiring an additional 240 shares during the period. Congress Asset Management Co. boosted its position in Avery Dennison by 15.6% in the first quarter. Congress Asset Management Co. now owns 72,888 shares of the industrial products company's stock worth $12,972,000 after purchasing an additional 9,819 shares during the last quarter. Fenimore Asset Management Inc grew its stake in Avery Dennison by 1.3% in the 1st quarter. Fenimore Asset Management Inc now owns 134,796 shares of the industrial products company's stock valued at $23,990,000 after purchasing an additional 1,677 shares during the period. Finally, Portside Wealth Group LLC increased its position in shares of Avery Dennison by 12.7% during the 1st quarter. Portside Wealth Group LLC now owns 1,263 shares of the industrial products company's stock valued at $225,000 after purchasing an additional 142 shares during the last quarter. Hedge funds and other institutional investors own 94.17% of the company's stock.

Avery Dennison Stock Up 0.5%

Avery Dennison stock opened at $163.42 on Monday. The firm has a 50 day simple moving average of $168.69 and a 200 day simple moving average of $173.61. The company has a current ratio of 1.04, a quick ratio of 0.70 and a debt-to-equity ratio of 1.19. Avery Dennison Corporation has a 1-year low of $157.00 and a 1-year high of $222.16. The firm has a market capitalization of $12.74 billion, a price-to-earnings ratio of 18.34, a P/E/G ratio of 2.51 and a beta of 0.95.

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

Avery Dennison Dividend Announcement

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

Analyst Upgrades and Downgrades

AVY has been the topic of a number of research analyst reports. Weiss Ratings reissued a "hold (c)" rating on shares of Avery Dennison in a report on Saturday, September 27th. BMO Capital Markets reiterated an "outperform" rating and issued a $207.00 target price (down from $216.00) on shares of Avery Dennison in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. raised their price target on shares of Avery Dennison from $172.00 to $182.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Citigroup reduced their price objective on Avery Dennison from $191.00 to $177.00 and set a "neutral" rating for the company in a report on Monday, September 29th. Finally, Raymond James Financial raised their target price on Avery Dennison from $194.00 to $200.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Six investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Avery Dennison presently has an average rating of "Moderate Buy" and an average price target of $196.80.

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.

Want to see what other hedge funds are holding AVY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Avery Dennison Corporation (NYSE:AVY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.