Raymond James Financial Inc. Cuts Stock Holdings in Avery Dennison Corporation $AVY

Key Points

• Raymond James Financial reduced its stake in Avery Dennison Corporation by 17.9%, selling 49,400 shares, but still holds a position worth $40.2 million as of the end of the first quarter.
• Avery Dennison's recent financial results showed an EPS of $2.42, beating expectations slightly, with a total revenue of $2.22 billion, down 0.7% from last year.
• The company announced a quarterly dividend of $0.94, which equates to an annualized dividend of $3.76, yielding 2.1% for investors.

Raymond James Financial Inc. lowered its holdings in shares of Avery Dennison Corporation (NYSE:AVY - Free Report) by 17.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 225,925 shares of the industrial products company's stock after selling 49,400 shares during the quarter. Raymond James Financial Inc. owned approximately 0.29% of Avery Dennison worth $40,208,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in AVY. Choreo LLC raised its stake in shares of Avery Dennison by 1.5% during the 1st quarter. Choreo LLC now owns 12,380 shares of the industrial products company's stock worth $2,203,000 after buying an additional 185 shares during the period. Nomura Holdings Inc. acquired a new position in Avery Dennison during the fourth quarter worth $496,000. Brown Advisory Inc. lifted its holdings 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 purchasing an additional 76 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Avery Dennison by 9.4% during the first quarter. GAMMA Investing LLC now owns 2,409 shares of the industrial products company's stock valued at $429,000 after purchasing an additional 207 shares in the last quarter. Finally, Spire Wealth Management grew its position in shares of Avery Dennison by 630.9% in the first quarter. Spire Wealth Management now owns 2,200 shares of the industrial products company's stock valued at $392,000 after purchasing an additional 1,899 shares during the period. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Avery Dennison Trading Down 1.5%

Shares of NYSE:AVY traded down $2.52 during mid-day trading on Thursday, reaching $170.74. 55,329 shares of the company were exchanged, compared to its average volume of 736,518. Avery Dennison Corporation has a 1 year low of $157.00 and a 1 year high of $224.38. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.04 and a quick ratio of 0.70. The firm's 50-day simple moving average is $176.35 and its 200 day simple moving average is $176.87. The firm has a market cap of $13.31 billion, a price-to-earnings ratio of 19.19, a P/E/G ratio of 2.66 and a beta of 0.88.

Avery Dennison (NYSE:AVY - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The industrial products company reported $2.42 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 company had revenue of $2.22 billion for the quarter, compared to analysts' expectations of $2.23 billion. During the same period in the prior year, the firm earned $2.42 earnings per share. The firm'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. Equities research analysts forecast that Avery Dennison Corporation will post 9.96 EPS for the current year.

Avery Dennison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 3rd. Avery Dennison's dividend payout ratio is currently 42.20%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on AVY shares. JPMorgan Chase & Co. upped their price target on shares of Avery Dennison from $172.00 to $182.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Wall Street Zen upgraded Avery Dennison from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Argus cut Avery Dennison from a "strong-buy" rating to a "hold" rating in a report on Monday, May 12th. Bank of America raised their target price on Avery Dennison from $195.00 to $208.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Finally, Raymond James Financial boosted their price target on Avery Dennison from $194.00 to $200.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Six analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $197.60.

Avery Dennison 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.