Avery Dennison Corporation $AVY Shares Sold by Gateway Investment Advisers LLC

Key Points

• Gateway Investment Advisers LLC has reduced its stake in Avery Dennison Corporation by 6.0%, bringing its holdings to 63,861 shares valued at approximately $11.2 million.
• Avery Dennison reported earnings per share of $2.42 for the last quarter, surpassing estimates, but its quarterly revenue saw a 0.7% decline compared to the previous year.
• The company is set to distribute a quarterly dividend of $0.94 per share on September 17th, yielding about 2.3% annually, with a payout ratio of 42.20%.

Gateway Investment Advisers LLC decreased its holdings in Avery Dennison Corporation (NYSE:AVY - Free Report) by 6.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 63,861 shares of the industrial products company's stock after selling 4,073 shares during the period. Gateway Investment Advisers LLC owned about 0.08% of Avery Dennison worth $11,206,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of AVY. GAMMA Investing LLC raised its stake in Avery Dennison by 19,370.0% in the first quarter. GAMMA Investing LLC now owns 428,730 shares of the industrial products company's stock worth $76,301,000 after buying an additional 426,528 shares in the last quarter. DAVENPORT & Co LLC raised its stake in Avery Dennison by 905.0% in the first quarter. DAVENPORT & Co LLC now owns 324,095 shares of the industrial products company's stock worth $57,503,000 after buying an additional 291,848 shares in the last quarter. Vanguard Group Inc. grew its holdings in Avery Dennison by 2.9% in the first quarter. Vanguard Group Inc. now owns 9,959,263 shares of the industrial products company's stock worth $1,772,450,000 after purchasing an additional 277,554 shares during the last quarter. Nuveen LLC purchased a new position in Avery Dennison in the first quarter worth $46,322,000. Finally, Johnson Investment Counsel Inc. grew its holdings in Avery Dennison by 1,305.6% in the first quarter. Johnson Investment Counsel Inc. now owns 264,452 shares of the industrial products company's stock worth $47,065,000 after purchasing an additional 245,638 shares during the last quarter. Institutional investors own 94.17% of the company's stock.

Avery Dennison Price Performance

Shares of Avery Dennison stock traded down $0.38 during trading hours on Friday, reaching $164.66. The stock had a trading volume of 1,316,743 shares, compared to its average volume of 583,767. The stock's 50 day moving average is $172.13 and its 200 day moving average is $174.91. The firm has a market capitalization of $12.84 billion, a PE ratio of 18.48, a PEG ratio of 2.53 and a beta of 0.90. Avery Dennison Corporation has a twelve month low of $157.00 and a twelve month high of $224.38. 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 (NYSE:AVY - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The industrial products company reported $2.42 earnings per share for the quarter, topping analysts' consensus estimates of $2.38 by $0.04. The business had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.23 billion. Avery Dennison had a net margin of 8.14% and a return on equity of 33.14%. The company's revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.42 earnings per share. Avery Dennison has set its Q3 2025 guidance at 2.240-2.40 EPS. Equities analysts expect that Avery Dennison Corporation will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Announces Dividend

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

Analyst Ratings Changes

Several equities analysts have issued reports on AVY shares. BMO Capital Markets reaffirmed an "outperform" rating and issued a $207.00 price target (down from $216.00) on shares of Avery Dennison in a report on Wednesday, July 23rd. Raymond James Financial lifted their price target on shares of Avery Dennison from $194.00 to $200.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Bank of America lifted their price target on shares of Avery Dennison from $195.00 to $208.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Citigroup lifted their price target on shares of Avery Dennison from $177.00 to $185.00 and gave the stock a "neutral" rating in a report on Friday, July 11th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Avery Dennison from $172.00 to $182.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Six investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $197.60.

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.