Envestnet Portfolio Solutions Inc. Has $1.96 Million Position in Avery Dennison Corporation (NYSE:AVY)

Envestnet Portfolio Solutions Inc. cut its position in shares of Avery Dennison Corporation (NYSE:AVY - Free Report) by 12.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,010 shares of the industrial products company's stock after selling 1,548 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Avery Dennison were worth $1,959,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of AVY. HBK Sorce Advisory LLC increased its position in Avery Dennison by 0.5% during the fourth quarter. HBK Sorce Advisory LLC now owns 11,862 shares of the industrial products company's stock worth $2,220,000 after buying an additional 58 shares during the last quarter. Baker Avenue Asset Management LP boosted its stake in shares of Avery Dennison by 5.7% during the 4th quarter. Baker Avenue Asset Management LP now owns 1,100 shares of the industrial products company's stock worth $206,000 after acquiring an additional 59 shares during the period. Grove Bank & Trust increased its holdings in shares of Avery Dennison by 17.7% during the 1st quarter. Grove Bank & Trust now owns 393 shares of the industrial products company's stock worth $70,000 after acquiring an additional 59 shares during the last quarter. New York Life Investment Management LLC raised its stake in Avery Dennison by 0.6% in the 4th quarter. New York Life Investment Management LLC now owns 10,981 shares of the industrial products company's stock valued at $2,055,000 after acquiring an additional 61 shares during the period. Finally, Smith Moore & CO. lifted its holdings in Avery Dennison by 1.4% during the 4th quarter. Smith Moore & CO. now owns 4,720 shares of the industrial products company's stock valued at $883,000 after purchasing an additional 63 shares during the last quarter. 94.17% of the stock is owned by institutional investors.

Avery Dennison Stock Performance

NYSE AVY opened at $175.41 on Monday. The firm's fifty day moving average price is $175.84 and its two-hundred day moving average price is $181.14. The stock has a market cap of $13.71 billion, a PE ratio of 20.21, a PEG ratio of 2.81 and a beta of 0.88. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.68 and a current ratio of 1.03. Avery Dennison Corporation has a fifty-two week low of $157.00 and a fifty-two week high of $233.48.

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

Avery Dennison Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were given a dividend of $0.94 per share. The ex-dividend date was Wednesday, June 4th. This is an increase from Avery Dennison's previous quarterly dividend of $0.88. This represents a $3.76 annualized dividend and a yield of 2.14%. Avery Dennison's dividend payout ratio (DPR) is currently 43.32%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on AVY shares. Robert W. Baird dropped their price objective on shares of Avery Dennison from $220.00 to $210.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Jefferies Financial Group initiated coverage on Avery Dennison in a report on Tuesday, April 22nd. They set a "hold" rating and a $175.00 target price on the stock. Truist Financial dropped their price target on Avery Dennison from $215.00 to $210.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Raymond James Financial cut their price objective 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. Finally, JPMorgan Chase & Co. lowered shares of Avery Dennison from an "overweight" rating to a "neutral" rating and decreased their target price for the company from $205.00 to $172.00 in a report on Thursday, April 24th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target 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.

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