Avery Dennison Corporation $AVY Shares Sold by National Pension Service

Key Points

• The National Pension Service significantly reduced its stake in Avery Dennison Corporation by 96.8% during the first quarter, now holding only 3,888 shares worth $692,000.
• Avery Dennison's recent quarterly earnings reported an EPS of $2.42, slightly surpassing analysts' expectations, although revenue declined by 0.7% year-over-year.
• The company declared a quarterly dividend of $0.94 per share, representing a 2.2% yield, with the payment set for September 17th.

National Pension Service cut its stake in Avery Dennison Corporation (NYSE:AVY - Free Report) by 96.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,888 shares of the industrial products company's stock after selling 116,351 shares during the quarter. National Pension Service's holdings in Avery Dennison were worth $692,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Baker Avenue Asset Management LP boosted its holdings in Avery Dennison by 5.7% in the fourth quarter. Baker Avenue Asset Management LP now owns 1,100 shares of the industrial products company's stock valued at $206,000 after purchasing an additional 59 shares during the last quarter. Grove Bank & Trust boosted its stake in shares of Avery Dennison by 17.7% in the first quarter. Grove Bank & Trust now owns 393 shares of the industrial products company's stock worth $70,000 after buying an additional 59 shares during the last quarter. Forum Financial Management LP grew its holdings in Avery Dennison by 5.6% during the first quarter. Forum Financial Management LP now owns 1,384 shares of the industrial products company's stock worth $246,000 after acquiring an additional 73 shares during the period. Brown Advisory Inc. raised its position in Avery Dennison by 3.6% during the first quarter. Brown Advisory Inc. now owns 2,169 shares of the industrial products company's stock valued at $386,000 after acquiring an additional 76 shares in the last quarter. Finally, Figure 8 Investment Strategies LLC lifted its holdings in Avery Dennison by 1.1% in the first quarter. Figure 8 Investment Strategies LLC now owns 7,889 shares of the industrial products company's stock valued at $1,404,000 after acquiring an additional 83 shares during the period. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on AVY. Jefferies Financial Group began coverage on shares of Avery Dennison in a report on Tuesday, April 22nd. They set a "hold" rating and a $175.00 target price for the company. BMO Capital Markets restated an "outperform" rating and set a $207.00 price target (down previously from $216.00) on shares of Avery Dennison in a research report on Wednesday, July 23rd. Barclays decreased their price objective on shares of Avery Dennison from $225.00 to $210.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Truist Financial dropped their target price on Avery Dennison from $215.00 to $210.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Finally, Citigroup lifted their price target on Avery Dennison from $177.00 to $185.00 and gave the company a "neutral" rating in a research note on Friday, July 11th. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, Avery Dennison currently has a consensus rating of "Moderate Buy" and an average target price of $197.60.

Avery Dennison Price Performance

NYSE:AVY traded up $0.2030 during trading hours on Wednesday, hitting $175.4930. 537,108 shares of the stock were exchanged, compared to its average volume of 746,420. The firm's fifty day moving average price is $176.42 and its 200 day moving average price is $177.12. Avery Dennison Corporation has a 52-week low of $157.00 and a 52-week high of $224.38. The company has a market cap of $13.68 billion, a P/E ratio of 19.70, a P/E/G ratio of 2.65 and a beta of 0.88. 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 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 in the previous year, the company posted $2.42 earnings per share. The business's 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, equities research analysts anticipate that Avery Dennison Corporation will post 9.96 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The firm also recently declared 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 is Wednesday, September 3rd. This represents a $3.76 dividend on an annualized basis and a yield of 2.1%. Avery Dennison's 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.