Johnson Investment Counsel Inc. Boosts Stock Holdings in Avery Dennison Corporation (NYSE:AVY)

Johnson Investment Counsel Inc. lifted its holdings in Avery Dennison Corporation (NYSE:AVY - Free Report) by 1,305.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 264,452 shares of the industrial products company's stock after purchasing an additional 245,638 shares during the period. Johnson Investment Counsel Inc. owned about 0.34% of Avery Dennison worth $47,065,000 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. Norges Bank purchased a new stake in shares of Avery Dennison in the fourth quarter valued at approximately $188,643,000. GAMMA Investing LLC raised its position in Avery Dennison by 19,370.0% during the first quarter. GAMMA Investing LLC now owns 428,730 shares of the industrial products company's stock worth $76,301,000 after acquiring an additional 426,528 shares during the period. Raymond James Financial Inc. purchased a new position in Avery Dennison during the fourth quarter valued at $51,521,000. Ameriprise Financial Inc. grew its position in shares of Avery Dennison by 12.9% in the fourth quarter. Ameriprise Financial Inc. now owns 2,185,732 shares of the industrial products company's stock valued at $409,014,000 after purchasing an additional 250,359 shares during the period. Finally, Capital World Investors purchased a new stake in shares of Avery Dennison during the fourth quarter worth about $40,354,000. Institutional investors and hedge funds own 94.17% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on AVY shares. JPMorgan Chase & Co. cut Avery Dennison from an "overweight" rating to a "neutral" rating and lowered their price objective for the stock from $205.00 to $172.00 in a report on Thursday, April 24th. Jefferies Financial Group initiated coverage on Avery Dennison in a research report on Tuesday, April 22nd. They set a "hold" rating and a $175.00 price target for the company. UBS Group decreased their price objective on Avery Dennison from $207.00 to $189.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. Barclays lowered their target price on shares of Avery Dennison from $225.00 to $210.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Finally, Robert W. Baird reduced their target price on shares of Avery Dennison from $220.00 to $210.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $206.60.

Avery Dennison Trading Up 0.0%

Shares of AVY opened at $173.96 on Thursday. Avery Dennison Corporation has a 12-month low of $157.00 and a 12-month high of $233.48. The firm has a market capitalization of $13.60 billion, a P/E ratio of 20.04, a P/E/G ratio of 2.79 and a beta of 0.88. The firm has a 50-day moving average price of $175.56 and a 200 day moving average price of $181.87. The company has a current ratio of 1.03, a quick ratio of 0.68 and a debt-to-equity ratio of 1.19.

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

Avery Dennison Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were given a $0.94 dividend. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $3.76 dividend on an annualized basis and a yield of 2.16%. This is an increase from Avery Dennison's previous quarterly dividend of $0.88. Avery Dennison's payout ratio is currently 43.32%.

Avery Dennison 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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