Avery Dennison Corporation $AVY Shares Sold by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC reduced its holdings in Avery Dennison Corporation by 15.9%, owning 147,176 shares valued at $26.1 million after selling 27,737 shares during the first quarter.
• Avery Dennison Corporation reported an EPS of $2.42 for the last quarter, slightly surpassing the consensus estimate of $2.38, despite a 0.7% decline in quarterly revenue year-over-year.
• The company's board declared a quarterly dividend of $0.94, translating to an annualized dividend of $3.76, representing a yield of 2.1%, payable on September 17th.

Hsbc Holdings PLC decreased its holdings in Avery Dennison Corporation (NYSE:AVY - Free Report) by 15.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 147,176 shares of the industrial products company's stock after selling 27,737 shares during the quarter. Hsbc Holdings PLC owned about 0.19% of Avery Dennison worth $26,142,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Bayforest Capital Ltd acquired a new stake in Avery Dennison in the first quarter valued at $27,000. SouthState Corp grew its holdings in Avery Dennison by 195.7% in the first quarter. SouthState Corp now owns 207 shares of the industrial products company's stock valued at $37,000 after purchasing an additional 137 shares during the last quarter. Costello Asset Management INC acquired a new stake in Avery Dennison in the first quarter valued at $40,000. American National Bank & Trust acquired a new stake in Avery Dennison in the first quarter valued at $49,000. Finally, Grove Bank & Trust grew its holdings in Avery Dennison by 17.7% in the first quarter. Grove Bank & Trust now owns 393 shares of the industrial products company's stock valued at $70,000 after purchasing an additional 59 shares during the last quarter. Institutional investors and hedge funds own 94.17% of the company's stock.

Avery Dennison Price Performance

Shares of AVY traded down $2.32 during trading hours on Thursday, reaching $170.94. 66,422 shares of the company traded hands, compared to its average volume of 736,629. The company has a quick ratio of 0.70, a current ratio of 1.04 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $13.33 billion, a PE ratio of 19.18, a price-to-earnings-growth ratio of 2.66 and a beta of 0.88. Avery Dennison Corporation has a fifty-two week low of $157.00 and a fifty-two week high of $224.38. The stock has a fifty day simple moving average of $176.35 and a 200 day simple moving average of $176.87.

Avery Dennison (NYSE:AVY - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The industrial products company reported $2.42 earnings per share (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 for the quarter, compared to analyst estimates of $2.23 billion. During the same period last year, the company earned $2.42 EPS. The firm's quarterly revenue was down .7% on a year-over-year basis. Avery Dennison has set its Q3 2025 guidance at 2.240-2.40 EPS. As a group, research analysts predict that Avery Dennison Corporation will post 9.96 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 3rd. Avery Dennison's dividend payout ratio (DPR) is presently 42.20%.

Analysts Set New Price Targets

Several research firms have weighed in on AVY. Raymond James Financial upped their target price on Avery Dennison from $194.00 to $200.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Citigroup upped their target price on Avery Dennison from $177.00 to $185.00 and gave the company a "neutral" rating in a report on Friday, July 11th. Bank of America increased their price objective on Avery Dennison from $195.00 to $208.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. BMO Capital Markets reaffirmed an "outperform" rating and set a $207.00 price objective (down previously from $216.00) on shares of Avery Dennison in a research note on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. increased their price objective on Avery Dennison from $172.00 to $182.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Six research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock presently 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.