Raymond James Financial Inc. Cuts Position 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. trimmed its position in Avery Dennison Corporation (NYSE:AVY - Free Report) by 17.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 225,925 shares of the industrial products company's stock after selling 49,400 shares during the quarter. Raymond James Financial Inc. owned 0.29% of Avery Dennison worth $40,208,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of AVY. Bayforest Capital Ltd purchased a new position in shares of Avery Dennison in the 1st quarter worth about $27,000. SouthState Corp raised its holdings in shares of Avery Dennison by 195.7% in the 1st quarter. SouthState Corp now owns 207 shares of the industrial products company's stock worth $37,000 after purchasing an additional 137 shares during the period. Costello Asset Management INC acquired a new stake in shares of Avery Dennison in the first quarter valued at about $40,000. American National Bank & Trust acquired a new stake in shares of Avery Dennison in the first quarter valued at about $49,000. Finally, Grove Bank & Trust grew 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 valued at $70,000 after buying an additional 59 shares in the last quarter. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Avery Dennison Stock Up 1.5%

NYSE:AVY opened at $178.5150 on Friday. The firm has a market capitalization of $13.92 billion, a PE ratio of 20.04, a price-to-earnings-growth ratio of 2.71 and a beta of 0.88. The stock has a 50 day moving average of $176.39 and a 200-day moving average of $177.03. Avery Dennison Corporation has a 52 week low of $157.00 and a 52 week high of $224.38. 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 posted its earnings results on Tuesday, July 22nd. The industrial products company reported $2.42 EPS for the quarter, beating the consensus estimate of $2.38 by $0.04. The company had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.23 billion. Avery Dennison had a return on equity of 33.14% and a net margin of 8.14%.The business's revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the company earned $2.42 earnings per share. Avery Dennison has set its Q3 2025 guidance at 2.240-2.40 EPS. Analysts predict that Avery Dennison Corporation will post 9.96 EPS for the current year.

Avery Dennison Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Wednesday, September 3rd. Avery Dennison's dividend payout ratio (DPR) is 42.20%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on AVY shares. JPMorgan Chase & Co. increased their target price on Avery Dennison from $172.00 to $182.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Bank of America increased their target price on Avery Dennison from $195.00 to $208.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Raymond James Financial increased their target price on Avery Dennison from $194.00 to $200.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Argus downgraded Avery Dennison from a "strong-buy" rating to a "hold" rating in a report on Monday, May 12th. Finally, BMO Capital Markets reissued an "outperform" rating and issued a $207.00 price target (down previously from $216.00) on shares of Avery Dennison in a report on Wednesday, July 23rd. Six equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price 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.

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