Palisade Capital Management LP Takes Position in Avery Dennison Corporation $AVY

Key Points

• Palisade Capital Management initiated a position in Avery Dennison by purchasing 8,442 shares valued at approximately $1.37 million. Institutional investors collectively own 94.17% of the company.
• Avery Dennison reported better-than-expected quarterly results, with EPS of $2.89 versus estimates of $2.47 and revenue of $2.46 billion, up 10.9% year over year.
• The company declared a quarterly dividend of $1.00 per share, equivalent to a $4.00 annualized payout and a 2.2% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $201.22.

Palisade Capital Management LP bought a new position in shares of Avery Dennison Corporation (NYSE:AVY - Free Report) during the second quarter, according to its most recent filing with the SEC. The fund bought 8,442 shares of the industrial products company's stock, valued at approximately $1,371,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Avery Dennison during the second quarter worth about $1,052,464,000. Norges Bank purchased a new position in Avery Dennison in the fourth quarter valued at about $188,438,000. The Manufacturers Life Insurance Company bought a new position in shares of Avery Dennison during the 2nd quarter valued at approximately $118,728,000. Morgan Stanley increased its stake in shares of Avery Dennison by 20.1% during the 4th quarter. Morgan Stanley now owns 3,869,889 shares of the industrial products company's stock worth $703,856,000 after purchasing an additional 647,795 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Avery Dennison by 12.5% in the 3rd quarter. Wellington Management Group LLP now owns 5,808,960 shares of the industrial products company's stock worth $942,039,000 after purchasing an additional 644,664 shares during the period. 94.17% of the stock is owned by hedge funds and other institutional investors.

Avery Dennison Stock Up 1.4%

AVY opened at $182.47 on Thursday. The company has a 50 day moving average of $168.10 and a 200 day moving average of $170.01. The company has a market cap of $13.83 billion, a PE ratio of 19.99, a price-to-earnings-growth ratio of 2.30 and a beta of 0.81. Avery Dennison Corporation has a 12 month low of $152.42 and a 12 month high of $199.54. The company has a current ratio of 1.13, a quick ratio of 0.79 and a debt-to-equity ratio of 1.37.

Avery Dennison (NYSE:AVY - Get Free Report) last issued its earnings results on Thursday, July 30th. The industrial products company reported $2.89 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.47 by $0.42. The business had revenue of $2.46 billion for the quarter, compared to analysts' expectations of $2.30 billion. Avery Dennison had a net margin of 7.62% and a return on equity of 34.60%. The business's revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.42 EPS. Avery Dennison has set its Q3 2026 guidance at 10.000-10.300 EPS. On average, sell-side analysts expect that Avery Dennison Corporation will post 10.15 EPS for the current year.

Avery Dennison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, September 2nd will be given a dividend of $1.00 per share. The ex-dividend date is Wednesday, September 2nd. This represents a $4.00 annualized dividend and a dividend yield of 2.2%. Avery Dennison's dividend payout ratio is currently 43.81%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Truist Financial dropped their price objective on Avery Dennison from $221.00 to $209.00 and set a "buy" rating on the stock in a research note on Wednesday, July 15th. Argus set a $175.00 target price on Avery Dennison in a research note on Thursday, June 4th. Wall Street Zen raised Avery Dennison from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. JPMorgan Chase & Co. increased their price target on Avery Dennison from $185.00 to $190.00 and gave the stock an "overweight" rating in a research note on Friday, July 31st. Finally, Citigroup lifted their price objective on Avery Dennison from $184.00 to $186.00 and gave the stock a "neutral" rating in a report on Friday, July 31st. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $201.22.

Insider Buying and Selling at Avery Dennison

In other news, SVP Ignacio J. Walker sold 1,742 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $171.61, for a total value of $298,944.62. Following the sale, the senior vice president directly owned 7,585 shares of the company's stock, valued at approximately $1,301,661.85. This represents a 18.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.81% of the stock is currently owned by corporate insiders.

About Avery Dennison

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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