Magnetar Financial LLC Increases Position in Avery Dennison Corporation $AVY

Key Points

• Magnetar Financial LLC significantly increased its holdings in Avery Dennison Corporation by 595.3%, acquiring 17,799 shares valued at approximately $3.17 million.
• Avery Dennison's recent earnings report revealed $2.42 earnings per share, slightly exceeding analysts' expectations, with revenues of $2.22 billion.
• Several analysts have raised their price targets on Avery Dennison stock, with the average target now at $197.60, indicating a mixed but generally positive outlook for the company.

Magnetar Financial LLC lifted its position in shares of Avery Dennison Corporation (NYSE:AVY - Free Report) by 595.3% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 17,799 shares of the industrial products company's stock after buying an additional 15,239 shares during the quarter. Magnetar Financial LLC's holdings in Avery Dennison were worth $3,168,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of AVY. GAMMA Investing LLC increased its holdings in Avery Dennison by 19,370.0% in the 1st quarter. GAMMA Investing LLC now owns 428,730 shares of the industrial products company's stock valued at $76,301,000 after acquiring an additional 426,528 shares during the last quarter. DAVENPORT & Co LLC increased its holdings in Avery Dennison by 905.0% in the 1st quarter. DAVENPORT & Co LLC now owns 324,095 shares of the industrial products company's stock valued at $57,503,000 after acquiring an additional 291,848 shares during the last quarter. Vanguard Group Inc. increased its holdings in Avery Dennison by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 9,959,263 shares of the industrial products company's stock valued at $1,772,450,000 after acquiring an additional 277,554 shares during the last quarter. Nuveen LLC bought a new stake in Avery Dennison in the 1st quarter valued at $46,322,000. Finally, Ameriprise Financial Inc. increased its holdings in Avery Dennison by 12.9% in the 4th quarter. Ameriprise Financial Inc. now owns 2,185,732 shares of the industrial products company's stock valued at $409,014,000 after acquiring an additional 250,359 shares during the last quarter. 94.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AVY. Raymond James Financial lifted their price target on shares of Avery Dennison from $194.00 to $200.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Citigroup lifted their price target on shares of Avery Dennison from $177.00 to $185.00 and gave the company a "neutral" rating in a report on Friday, July 11th. BMO Capital Markets restated an "outperform" rating and issued a $207.00 target price (down from $216.00) on shares of Avery Dennison in a report on Wednesday, July 23rd. JPMorgan Chase & Co. boosted their target price 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. Finally, Argus downgraded shares of Avery Dennison from a "strong-buy" rating to a "hold" rating in a report on Monday, May 12th. Six analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $197.60.

Avery Dennison Stock Down 1.1%

Shares of AVY traded down $1.85 during mid-day trading on Wednesday, hitting $166.52. The company's stock had a trading volume of 271,676 shares, compared to its average volume of 733,018. The company's 50-day moving average is $175.86 and its 200-day moving average is $176.54. Avery Dennison Corporation has a 52-week low of $157.00 and a 52-week high of $224.38. The firm has a market capitalization of $12.99 billion, a price-to-earnings ratio of 18.69, a PEG ratio of 2.64 and a beta of 0.90. 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 announced its quarterly earnings results on Tuesday, July 22nd. The industrial products company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.04. Avery Dennison had a net margin of 8.14% and a return on equity of 33.14%. The firm 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 company earned $2.42 EPS. The company's revenue was down .7% compared to the same quarter last year. Avery Dennison has set its Q3 2025 guidance at 2.240-2.40 EPS. On average, equities research analysts forecast that Avery Dennison Corporation will post 9.96 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $3.76 dividend on an annualized basis and a yield of 2.3%. Avery Dennison's dividend payout ratio is presently 42.20%.

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.