Sumitomo Mitsui DS Asset Management Company Ltd Sells 28,138 Shares of Avery Dennison Corporation $AVY

Key Points

• Sumitomo Mitsui DS Asset Management Company Ltd has significantly reduced its stake in Avery Dennison Corporation by 72.2%, now holding 10,852 shares worth approximately $1.9 million.
• Several hedge funds have increased their holdings in Avery Dennison, with Two Sigma Advisers LP raising its position by 75.6% during the 4th quarter.
• Avery Dennison reported earnings of $2.42 per share for the last quarter, slightly exceeding analysts' expectations, amidst a revenue decline of 0.7% year-over-year.

Sumitomo Mitsui DS Asset Management Company Ltd trimmed its holdings in shares of Avery Dennison Corporation (NYSE:AVY - Free Report) by 72.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,852 shares of the industrial products company's stock after selling 28,138 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Avery Dennison were worth $1,904,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Bayforest Capital Ltd bought a new position in Avery Dennison in the 1st quarter valued at $27,000. Thurston Springer Miller Herd & Titak Inc. increased its position in Avery Dennison by 193.1% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 170 shares of the industrial products company's stock worth $30,000 after purchasing an additional 112 shares during the period. SouthState Corp increased its position in Avery Dennison by 195.7% in the first 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. MassMutual Private Wealth & Trust FSB increased its position in Avery Dennison by 70.2% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 211 shares of the industrial products company's stock worth $37,000 after purchasing an additional 87 shares during the period. Finally, Costello Asset Management INC acquired a new stake in Avery Dennison in the first quarter worth about $40,000. 94.17% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the company. JPMorgan Chase & Co. lifted their price objective on Avery Dennison from $172.00 to $182.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. BMO Capital Markets reiterated an "outperform" rating and issued a $207.00 price objective (down from $216.00) on shares of Avery Dennison in a research report on Wednesday, July 23rd. Citigroup lifted their price objective on Avery Dennison from $177.00 to $185.00 and gave the stock a "neutral" rating in a research note on Friday, July 11th. Raymond James Financial lifted their price objective on Avery Dennison from $194.00 to $200.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. Finally, Bank of America lifted their price objective on Avery Dennison from $195.00 to $208.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Six analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Avery Dennison has an average rating of "Moderate Buy" and an average price target of $197.60.

Avery Dennison Trading Down 0.7%

NYSE:AVY traded down $1.16 on Monday, reaching $163.22. The company's stock had a trading volume of 591,731 shares, compared to its average volume of 613,194. 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 quick ratio of 0.70 and a current ratio of 1.04. The firm has a market cap of $12.73 billion, a PE ratio of 18.32, a PEG ratio of 2.53 and a beta of 0.90. The business's 50-day moving average price is $171.78 and its two-hundred day moving average price is $174.71.

Avery Dennison (NYSE:AVY - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $2.22 billion during the quarter, compared to analysts' expectations of $2.23 billion. During the same period in the previous year, the firm earned $2.42 earnings per share. The company's revenue was down .7% on a year-over-year basis. Avery Dennison has set its Q3 2025 guidance at 2.240-2.40 EPS. Equities research analysts anticipate that Avery Dennison Corporation will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd were issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Wednesday, September 3rd. Avery Dennison's payout ratio is 42.20%.

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.