Smithbridge Asset Management Inc. DE Cuts Holdings in Avery Dennison Corporation $AVY

Key Points

• Smithbridge Asset Management Inc. DE reduced its holdings in Avery Dennison Corporation by 51.4% during the 2nd quarter, owning 3,695 shares worth approximately $648,000 after selling 3,908 shares.
• Other major investors like Vanguard Group Inc. and T. Rowe Price Investment Management Inc. have increased their positions in Avery Dennison, with Vanguard holding nearly 10 million shares valued at $1.77 billion.
• Avery Dennison reported a quarterly EPS of $2.42, slightly exceeding expectations, and announced a quarterly dividend of $0.94 with a current yield of 2.4%.

Smithbridge Asset Management Inc. DE reduced its position in Avery Dennison Corporation (NYSE:AVY - Free Report) by 51.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,695 shares of the industrial products company's stock after selling 3,908 shares during the quarter. Smithbridge Asset Management Inc. DE's holdings in Avery Dennison were worth $648,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Avery Dennison by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 9,959,263 shares of the industrial products company's stock worth $1,772,450,000 after buying an additional 277,554 shares during the period. T. Rowe Price Investment Management Inc. raised its position in shares of Avery Dennison by 0.6% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,249,377 shares of the industrial products company's stock worth $756,262,000 after buying an additional 24,068 shares during the period. Victory Capital Management Inc. raised its position in shares of Avery Dennison by 17.3% in the 1st quarter. Victory Capital Management Inc. now owns 1,582,933 shares of the industrial products company's stock worth $281,715,000 after buying an additional 233,062 shares during the period. Invesco Ltd. raised its position in shares of Avery Dennison by 7.1% in the 1st quarter. Invesco Ltd. now owns 1,541,787 shares of the industrial products company's stock worth $274,392,000 after buying an additional 101,996 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Avery Dennison by 1.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,193,864 shares of the industrial products company's stock worth $212,473,000 after buying an additional 14,667 shares during the period. 94.17% of the stock is owned by hedge funds and other institutional investors.

Avery Dennison Stock Down 0.2%

Shares of Avery Dennison stock opened at $159.28 on Friday. The business has a 50-day moving average of $167.10 and a 200-day moving average of $172.62. 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 company has a market capitalization of $12.42 billion, a PE ratio of 17.88, a P/E/G ratio of 2.36 and a beta of 0.95. Avery Dennison Corporation has a 1-year low of $156.23 and a 1-year high of $222.16.

Avery Dennison (NYSE:AVY - Get Free Report) last posted 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. The business had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.23 billion. Avery Dennison had a return on equity of 33.14% and a net margin of 8.14%.The company's revenue for the quarter was down .7% compared to the same quarter last year. During the same period last year, the firm earned $2.42 earnings per share. Avery Dennison has set its Q3 2025 guidance at 2.240-2.40 EPS. As a group, equities analysts forecast that Avery Dennison Corporation will post 9.96 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd were issued a $0.94 dividend. The ex-dividend date of this dividend was Wednesday, September 3rd. This represents a $3.76 dividend on an annualized basis and a yield of 2.4%. Avery Dennison's dividend payout ratio (DPR) is currently 42.20%.

Analysts Set New Price Targets

Several analysts recently issued reports on AVY shares. Bank of America increased their price target on Avery Dennison from $195.00 to $208.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Avery Dennison in a report on Tuesday. Citigroup lowered their price target on Avery Dennison from $191.00 to $177.00 and set a "neutral" rating for the company in a report on Monday, September 29th. JPMorgan Chase & Co. increased their price target on Avery Dennison from $172.00 to $182.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Finally, UBS Group lowered their price target on Avery Dennison from $188.00 to $181.00 and set a "neutral" rating for the company in a report on Monday, October 6th. Six analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $195.30.

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.

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