OneDigital Investment Advisors LLC Invests $250,000 in Avery Dennison Corporation (NYSE:AVY)

OneDigital Investment Advisors LLC purchased a new position in shares of Avery Dennison Corporation (NYSE:AVY - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,405 shares of the industrial products company's stock, valued at approximately $250,000.

A number of other institutional investors and hedge funds have also made changes to their positions in AVY. Norges Bank acquired a new position in shares of Avery Dennison during the 4th quarter worth $188,643,000. GAMMA Investing LLC grew its stake 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 grew its stake 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. Raymond James Financial Inc. acquired a new stake in Avery Dennison in the 4th quarter valued at about $51,521,000. Finally, Ameriprise Financial Inc. grew its stake 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 owned by institutional investors and hedge funds.

Avery Dennison Trading Down 0.7%

Shares of NYSE AVY traded down $1.19 on Monday, reaching $181.02. 18,045 shares of the company traded hands, compared to its average volume of 648,421. The company has a 50 day moving average of $178.65 and a 200 day moving average of $179.77. 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 Corporation has a fifty-two week low of $157.00 and a fifty-two week high of $233.48. The stock has a market capitalization of $14.15 billion, a PE ratio of 20.93, a P/E/G ratio of 2.56 and a beta of 0.87.

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

Avery Dennison Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were given a $0.94 dividend. The ex-dividend date was Wednesday, June 4th. This is a boost from Avery Dennison's previous quarterly dividend of $0.88. This represents a $3.76 annualized dividend and a dividend yield of 2.08%. Avery Dennison's dividend payout ratio (DPR) is currently 43.32%.

Analyst Ratings Changes

AVY has been the topic of a number of research reports. UBS Group lowered their price objective on shares of Avery Dennison from $207.00 to $189.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Argus cut shares of Avery Dennison from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 12th. Citigroup increased their price objective on shares of Avery Dennison from $177.00 to $185.00 and gave the company a "neutral" rating in a research note on Friday. Jefferies Financial Group started coverage on shares of Avery Dennison in a research note on Tuesday, April 22nd. They issued a "hold" rating and a $175.00 price objective on the stock. Finally, Bank of America raised their price target on shares of Avery Dennison from $195.00 to $208.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $196.90.

Avery Dennison Company 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.