Avery Dennison Corporation (NYSE:AVY) Shares Sold by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. trimmed its position in shares of Avery Dennison Corporation (NYSE:AVY - Free Report) by 19.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 79,748 shares of the industrial products company's stock after selling 19,861 shares during the quarter. Robeco Institutional Asset Management B.V. owned 0.10% of Avery Dennison worth $14,193,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. American National Bank & Trust purchased a new stake in shares of Avery Dennison during the first quarter valued at $49,000. Grove Bank & Trust boosted its stake in shares of Avery Dennison by 17.7% during the first quarter. Grove Bank & Trust now owns 393 shares of the industrial products company's stock valued at $70,000 after purchasing an additional 59 shares during the period. Assetmark Inc. boosted its stake in shares of Avery Dennison by 22.5% during the fourth quarter. Assetmark Inc. now owns 397 shares of the industrial products company's stock valued at $74,000 after purchasing an additional 73 shares during the period. Farther Finance Advisors LLC boosted its stake in shares of Avery Dennison by 49.8% during the fourth quarter. Farther Finance Advisors LLC now owns 409 shares of the industrial products company's stock valued at $77,000 after purchasing an additional 136 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in shares of Avery Dennison during the fourth quarter valued at $79,000. 94.17% of the stock is owned by hedge funds and other institutional investors.

Avery Dennison Stock Up 3.3%

Shares of AVY traded up $5.75 during mid-day trading on Tuesday, hitting $181.22. 1,119,790 shares of the company traded hands, compared to its average volume of 648,718. Avery Dennison Corporation has a 1-year low of $157.00 and a 1-year high of $233.48. The company has a quick ratio of 0.68, a current ratio of 1.03 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $14.17 billion, a PE ratio of 20.88, a price-to-earnings-growth ratio of 2.81 and a beta of 0.87. The business has a 50 day moving average of $176.65 and a 200 day moving average of $180.18.

Avery Dennison (NYSE:AVY - Get Free Report) last posted its quarterly earnings data 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). The company had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.15 billion. Avery Dennison had a net margin of 7.98% and a return on equity of 33.11%. The business's revenue was down .1% compared to the same quarter last year. During the same quarter last year, the company earned $2.29 EPS. Equities research analysts anticipate that Avery Dennison Corporation will post 9.96 EPS for the current year.

Avery Dennison Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 2.07%. The ex-dividend date was Wednesday, June 4th. This is a positive change from Avery Dennison's previous quarterly dividend of $0.88. Avery Dennison's dividend payout ratio is currently 43.32%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on AVY shares. Barclays lowered their target price on shares of Avery Dennison from $225.00 to $210.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Wall Street Zen raised shares of Avery Dennison from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Jefferies Financial Group assumed coverage on Avery Dennison in a report on Tuesday, April 22nd. They issued a "hold" rating and a $175.00 price objective for the company. Truist Financial decreased their price objective on Avery Dennison from $215.00 to $210.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Finally, Robert W. Baird reduced their target price on shares of Avery Dennison from $220.00 to $210.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $206.60.

About Avery Dennison

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.