Ferguson Wellman Capital Management Inc. Has $25.81 Million Holdings in Avery Dennison Co. (NYSE:AVY)

Ferguson Wellman Capital Management Inc. decreased its holdings in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 1.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 145,042 shares of the industrial products company's stock after selling 1,788 shares during the period. Ferguson Wellman Capital Management Inc. owned approximately 0.18% of Avery Dennison worth $25,813,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nomura Holdings Inc. bought a new stake in shares of Avery Dennison during the 4th quarter valued at $496,000. Renaissance Technologies LLC bought a new stake in shares of Avery Dennison in the 4th quarter valued at $11,396,000. Vontobel Holding Ltd. increased its position in shares of Avery Dennison by 11.7% in the 4th quarter. Vontobel Holding Ltd. now owns 1,434 shares of the industrial products company's stock valued at $268,000 after buying an additional 150 shares in the last quarter. DoubleLine ETF Adviser LP bought a new stake in shares of Avery Dennison in the 4th quarter valued at $1,702,000. Finally, Van ECK Associates Corp increased its position in shares of Avery Dennison by 9.8% in the 4th quarter. Van ECK Associates Corp now owns 14,521 shares of the industrial products company's stock valued at $2,717,000 after buying an additional 1,302 shares in the last quarter. Institutional investors own 94.17% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on AVY shares. Barclays lowered their price objective on shares of Avery Dennison from $225.00 to $210.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Truist Financial lowered their target price on Avery Dennison from $215.00 to $210.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Robert W. Baird lowered their target price on Avery Dennison from $220.00 to $210.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Argus cut Avery Dennison from a "strong-buy" rating to a "hold" rating in a report on Monday, May 12th. Finally, JPMorgan Chase & Co. cut Avery Dennison from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $205.00 to $172.00 in a report on Thursday, April 24th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $206.60.

Avery Dennison Stock Down 2.8%

Shares of Avery Dennison stock traded down $4.94 during trading hours on Friday, reaching $174.40. 316,009 shares of the company's stock were exchanged, compared to its average volume of 623,721. Avery Dennison Co. has a fifty-two week low of $157.00 and a fifty-two week high of $233.48. The stock has a market cap of $13.63 billion, a P/E ratio of 20.00, a P/E/G ratio of 2.07 and a beta of 0.88. The company has a 50 day moving average of $175.00 and a two-hundred day moving average of $182.51. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 1.10.

Avery Dennison (NYSE:AVY - Get Free Report) last issued 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 net margin of 8.05% and a return on equity of 33.06%. The firm had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.15 billion. During the same quarter last year, the business posted $2.29 earnings per share. The company's revenue for the quarter was down .1% on a year-over-year basis. On average, sell-side analysts forecast that Avery Dennison Co. will post 9.96 EPS for the current fiscal year.

Avery Dennison Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be paid a $0.94 dividend. 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 2.16%. The ex-dividend date is Wednesday, June 4th. Avery Dennison's dividend payout ratio (DPR) is 43.32%.

About Avery Dennison

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.