Jefferies Financial Group Inc. Has $862,000 Stock Position in Avery Dennison Corporation (NYSE:AVY)

Key Points

• Jefferies Financial Group Inc. increased its stake in Avery Dennison Corporation by 67.1% in Q1, reaching a value of $862,000 with a total of 4,846 shares owned.
• Several analysts have revised their price targets for Avery Dennison, with Bank of America raising it to $208.00 and maintaining a "buy" rating, indicating positive sentiment towards the stock.
• Avery Dennison announced a quarterly dividend of $0.94 per share, representing an annual yield of 2.2%, with the payment date set for September 17th.

Jefferies Financial Group Inc. increased its stake in shares of Avery Dennison Corporation (NYSE:AVY - Free Report) by 67.1% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 4,846 shares of the industrial products company's stock after acquiring an additional 1,946 shares during the period. Jefferies Financial Group Inc.'s holdings in Avery Dennison were worth $862,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Wealthquest Corp acquired a new position in Avery Dennison during the 1st quarter worth approximately $31,544,000. Natixis Advisors LLC increased its holdings in Avery Dennison by 8.1% during the 1st quarter. Natixis Advisors LLC now owns 291,133 shares of the industrial products company's stock worth $51,813,000 after purchasing an additional 21,792 shares during the last quarter. NorthRock Partners LLC increased its holdings in Avery Dennison by 12.2% during the 1st quarter. NorthRock Partners LLC now owns 1,421 shares of the industrial products company's stock worth $253,000 after purchasing an additional 155 shares during the last quarter. Bayforest Capital Ltd purchased a new stake in Avery Dennison during the 1st quarter worth approximately $27,000. Finally, XTX Topco Ltd increased its holdings in Avery Dennison by 167.3% during the 1st quarter. XTX Topco Ltd now owns 14,854 shares of the industrial products company's stock worth $2,644,000 after purchasing an additional 9,297 shares during the last quarter. 94.17% of the stock is owned by institutional investors and hedge funds.

Avery Dennison Stock Performance

Shares of NYSE:AVY traded up $2.07 on Thursday, hitting $169.69. The company's stock had a trading volume of 735,187 shares, compared to its average volume of 619,489. Avery Dennison Corporation has a 12 month low of $157.00 and a 12 month high of $224.38. The company has a market capitalization of $13.23 billion, a price-to-earnings ratio of 19.05, a price-to-earnings-growth ratio of 2.58 and a beta of 0.88. The stock's 50-day moving average is $177.07 and its two-hundred day moving average is $178.11. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.70 and a current ratio of 1.04.

Avery Dennison (NYSE:AVY - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.04. Avery Dennison had a return on equity of 33.14% and a net margin of 8.14%. The company had revenue of $2.22 billion during the quarter, compared to analysts' expectations of $2.23 billion. During the same quarter in the prior year, the business posted $2.42 earnings per share. The company's revenue for the quarter was down .7% compared to the same quarter last year. On average, equities research analysts forecast that Avery Dennison Corporation will post 9.96 EPS for the current year.

Avery Dennison Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd will be issued a $0.94 dividend. The ex-dividend date is Wednesday, September 3rd. This represents a $3.76 annualized dividend and a dividend yield of 2.2%. Avery Dennison's dividend payout ratio is 42.20%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Raymond James Financial lifted their price objective on Avery Dennison from $194.00 to $200.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. JPMorgan Chase & Co. lifted their price objective on Avery Dennison from $172.00 to $182.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Truist Financial lowered their price target on Avery Dennison from $215.00 to $210.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Bank of America boosted their price target on Avery Dennison from $195.00 to $208.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Finally, Robert W. Baird lowered their price target on Avery Dennison from $220.00 to $210.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Avery Dennison has an average rating of "Moderate Buy" and a consensus price target of $197.60.

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.