Avery Dennison Corporation (NYSE:AVY) Shares Purchased by Spire Wealth Management

Spire Wealth Management increased its stake in shares of Avery Dennison Corporation (NYSE:AVY - Free Report) by 630.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 2,200 shares of the industrial products company's stock after buying an additional 1,899 shares during the period. Spire Wealth Management's holdings in Avery Dennison were worth $392,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in AVY. Norges Bank acquired a new position in shares of Avery Dennison during the 4th quarter valued at $188,643,000. GAMMA Investing LLC lifted its position in shares of Avery Dennison by 19,370.0% during the first quarter. GAMMA Investing LLC now owns 428,730 shares of the industrial products company's stock worth $76,301,000 after acquiring an additional 426,528 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Avery Dennison during the fourth quarter valued at approximately $51,521,000. Ameriprise Financial Inc. boosted its stake in Avery Dennison by 12.9% during the fourth quarter. Ameriprise Financial Inc. now owns 2,185,732 shares of the industrial products company's stock valued at $409,014,000 after buying an additional 250,359 shares during the period. Finally, Johnson Investment Counsel Inc. grew its stake in Avery Dennison by 1,305.6% in the 1st quarter. Johnson Investment Counsel Inc. now owns 264,452 shares of the industrial products company's stock worth $47,065,000 after buying an additional 245,638 shares in the last quarter. Institutional investors and hedge funds own 94.17% of the company's stock.

Avery Dennison Trading Up 3.3%

Shares of NYSE:AVY traded up $5.75 during mid-day trading on Tuesday, reaching $181.22. 1,119,790 shares of the company were exchanged, compared to its average volume of 648,718. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.03 and a quick ratio of 0.68. The firm has a market cap of $14.17 billion, a price-to-earnings ratio of 18.61, a P/E/G ratio of 2.81 and a beta of 0.87. Avery Dennison Corporation has a 1 year low of $157.00 and a 1 year high of $233.48. The firm's 50-day simple moving average is $176.65 and its 200 day simple moving average is $180.18.

Avery Dennison (NYSE:AVY - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The industrial products company reported $2.30 EPS for the quarter, missing the consensus estimate of $2.32 by ($0.02). The firm had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.15 billion. Avery Dennison had a return on equity of 33.11% and a net margin of 7.98%. The company's revenue was down .1% on a year-over-year basis. During the same quarter last year, the firm earned $2.29 EPS. Equities research analysts forecast that Avery Dennison Corporation will post 9.96 EPS for the current year.

Avery Dennison Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.07%. This is a boost from Avery Dennison's previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Wednesday, June 4th. Avery Dennison's dividend payout ratio is presently 43.32%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on AVY shares. Wall Street Zen upgraded Avery Dennison from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Argus cut shares of Avery Dennison from a "strong-buy" rating to a "hold" rating in a report on Monday, May 12th. JPMorgan Chase & Co. lowered shares of Avery Dennison from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $205.00 to $172.00 in a report on Thursday, April 24th. Raymond James Financial reduced their target price on Avery Dennison from $208.00 to $194.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Finally, Jefferies Financial Group began coverage on Avery Dennison in a research note on Tuesday, April 22nd. They issued a "hold" rating and a $175.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $206.60.

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.