DekaBank Deutsche Girozentrale Cuts Holdings in Avery Dennison Corporation (NYSE:AVY)

DekaBank Deutsche Girozentrale lowered its stake in Avery Dennison Corporation (NYSE:AVY - Free Report) by 1.4% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 386,434 shares of the industrial products company's stock after selling 5,349 shares during the period. DekaBank Deutsche Girozentrale owned 0.49% of Avery Dennison worth $67,627,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. American National Bank & Trust bought a new position in Avery Dennison in the 1st quarter valued at approximately $49,000. Grove Bank & Trust lifted its position in Avery Dennison by 17.7% in the 1st quarter. Grove Bank & Trust now owns 393 shares of the industrial products company's stock valued at $70,000 after acquiring an additional 59 shares in the last quarter. Assetmark Inc. lifted its position in Avery Dennison by 22.5% in the 4th quarter. Assetmark Inc. now owns 397 shares of the industrial products company's stock valued at $74,000 after acquiring an additional 73 shares in the last quarter. Abound Financial LLC bought a new position in Avery Dennison in the 1st quarter valued at approximately $71,000. Finally, Farther Finance Advisors LLC lifted its position in Avery Dennison by 49.8% in the 4th quarter. Farther Finance Advisors LLC now owns 409 shares of the industrial products company's stock valued at $77,000 after acquiring an additional 136 shares in the last quarter. Hedge funds and other institutional investors own 94.17% of the company's stock.

Wall Street Analyst Weigh In

AVY has been the topic of several analyst reports. Citigroup upped their price objective on Avery Dennison from $177.00 to $185.00 and gave the company a "neutral" rating in a research report on Friday. BMO Capital Markets lowered their price target on Avery Dennison from $226.00 to $216.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Jefferies Financial Group initiated coverage on Avery Dennison in a report on Tuesday, April 22nd. They set a "hold" rating and a $175.00 price target on the stock. Truist Financial lowered their price target on Avery Dennison from $215.00 to $210.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Finally, Raymond James Financial lowered their price target on Avery Dennison from $208.00 to $194.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $196.90.

Avery Dennison Price Performance

AVY stock traded down $2.43 during trading on Friday, reaching $182.20. The company's stock had a trading volume of 487,015 shares, compared to its average volume of 650,929. Avery Dennison Corporation has a 1 year low of $157.00 and a 1 year high of $233.48. The company has a quick ratio of 0.68, a current ratio of 1.03 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $14.24 billion, a P/E ratio of 20.99, a price-to-earnings-growth ratio of 2.55 and a beta of 0.87. The company's fifty day moving average is $178.65 and its 200-day moving average is $179.91.

Avery Dennison (NYSE:AVY - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The industrial products company reported $2.30 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.32 by ($0.02). Avery Dennison had a return on equity of 33.11% and a net margin of 7.98%. The business had revenue of $2.15 billion during the quarter, compared to analysts' expectations of $2.15 billion. During the same quarter in the previous year, the company posted $2.29 EPS. The company's quarterly revenue was down .1% on a year-over-year basis. On average, research analysts expect that Avery Dennison Corporation will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend was Wednesday, June 4th. This is a positive change from Avery Dennison's previous quarterly dividend of $0.88. Avery Dennison's dividend payout ratio is presently 43.32%.

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.