Norges Bank Makes New $188.44 Million Investment in Avery Dennison Corporation $AVY

Key Points

• Norges Bank opened a new position in Avery Dennison during the fourth quarter, buying 1,036,055 shares worth about $188.4 million and ending with roughly 1.34% ownership of the company.
• Avery Dennison reported quarterly earnings of $2.47 per share, topping estimates, while revenue rose 7% year over year to $2.30 billion.
• The company also raised its quarterly dividend to $1.00 per share from $0.94, implying an annualized dividend of $4.00 and a yield of about 2.6%.

Norges Bank acquired a new position in Avery Dennison Corporation (NYSE:AVY - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,036,055 shares of the industrial products company's stock, valued at approximately $188,438,000. Norges Bank owned about 1.34% of Avery Dennison at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bartlett & CO. Wealth Management LLC boosted its holdings in shares of Avery Dennison by 16,900.0% in the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 170 shares of the industrial products company's stock worth $31,000 after purchasing an additional 169 shares during the period. Measured Wealth Private Client Group LLC purchased a new position in shares of Avery Dennison in the 3rd quarter worth approximately $36,000. Godfrey Financial Associates Inc. purchased a new position in shares of Avery Dennison in the 4th quarter worth approximately $37,000. CYBER HORNET ETFs LLC purchased a new position in shares of Avery Dennison in the 2nd quarter worth approximately $37,000. Finally, True Wealth Design LLC boosted its holdings in shares of Avery Dennison by 285.7% in the 4th quarter. True Wealth Design LLC now owns 216 shares of the industrial products company's stock worth $39,000 after purchasing an additional 160 shares during the period. Hedge funds and other institutional investors own 94.17% of the company's stock.

Insider Transactions at Avery Dennison

In related news, Director Mitchell R. Butier sold 20,000 shares of the business's stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $173.88, for a total transaction of $3,477,600.00. Following the completion of the transaction, the director owned 211,147 shares in the company, valued at $36,714,240.36. The trade was a 8.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.81% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. BMO Capital Markets lifted their target price on Avery Dennison from $215.00 to $224.00 and gave the stock an "outperform" rating in a report on Friday, February 6th. Weiss Ratings reiterated a "hold (c)" rating on shares of Avery Dennison in a report on Friday, March 27th. JPMorgan Chase & Co. dropped their target price on Avery Dennison from $205.00 to $185.00 and set an "overweight" rating for the company in a report on Wednesday, April 29th. UBS Group dropped their target price on Avery Dennison from $226.00 to $222.00 and set a "buy" rating for the company in a report on Friday, April 10th. Finally, Truist Financial restated a "buy" rating and set a $221.00 price objective (down from $223.00) on shares of Avery Dennison in a report on Wednesday, April 29th. Eight analysts have rated the stock with a Buy rating and two have assigned 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 $204.11.

Avery Dennison Price Performance

AVY opened at $156.20 on Thursday. The business has a fifty day moving average of $165.01 and a 200 day moving average of $176.14. Avery Dennison Corporation has a 52-week low of $152.68 and a 52-week high of $199.54. The company has a quick ratio of 0.80, a current ratio of 1.15 and a debt-to-equity ratio of 1.38. The stock has a market cap of $11.95 billion, a P/E ratio of 17.61, a PEG ratio of 2.70 and a beta of 0.82.

Avery Dennison (NYSE:AVY - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.41 by $0.06. Avery Dennison had a return on equity of 33.69% and a net margin of 7.66%.The company had revenue of $2.30 billion during the quarter, compared to analysts' expectations of $2.26 billion. During the same quarter in the previous year, the business earned $2.30 EPS. Avery Dennison's revenue was up 7.0% compared to the same quarter last year. Avery Dennison has set its Q2 2026 guidance at 2.430-2.53 EPS. As a group, sell-side analysts anticipate that Avery Dennison Corporation will post 10.05 EPS for the current year.

Avery Dennison Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Wednesday, June 3rd. This is an increase from Avery Dennison's previous quarterly dividend of $0.94. Avery Dennison's dividend payout ratio (DPR) is presently 42.39%.

Avery Dennison Profile

Avery Dennison NYSE: AVY is a global materials science and manufacturing company specializing in labeling and packaging solutions. The company develops pressure-sensitive materials, tags and labels, and adhesive technologies that help brands and businesses enhance product identification, branding and supply-chain performance. Avery Dennison's offerings range from industrial and retail labeling to high-performance tapes, films and graphics materials used across multiple end markets.

The company operates through several key segments, including Label and Graphic Materials, which supplies pressure-sensitive materials for consumer goods; Retail Branding and Information Solutions, offering apparel tags, RFID inlays and digital product identification; Pressure-Sensitive Materials, providing specialty tapes and adhesives; and RF Technologies, focused on advanced RFID and IoT labeling solutions.

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