Thrivent Financial for Lutherans Grows Stock Holdings in Avery Dennison Corporation $AVY

Key Points

• Thrivent Financial for Lutherans boosted its stake in Avery Dennison by 83.1% in the fourth quarter, ending with 15,509 shares valued at about $2.82 million.
• Several analysts remain constructive on AVY, with the stock holding a Moderate Buy consensus rating and an average price target of $204.11. Deutsche Bank initiated coverage with a buy rating, while JPMorgan and Citigroup trimmed their targets but kept more cautious stances.
• Avery Dennison reported better-than-expected quarterly earnings and revenue, raised its dividend to $1.00 per share quarterly, and now offers an annualized yield of about 2.5%.

Thrivent Financial for Lutherans raised its position in Avery Dennison Corporation (NYSE:AVY - Free Report) by 83.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,509 shares of the industrial products company's stock after acquiring an additional 7,040 shares during the quarter. Thrivent Financial for Lutherans' holdings in Avery Dennison were worth $2,820,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of AVY. Empowered Funds LLC increased its position in shares of Avery Dennison by 6.4% in the first quarter. Empowered Funds LLC now owns 13,534 shares of the industrial products company's stock valued at $2,409,000 after acquiring an additional 819 shares during the period. Focus Partners Wealth increased its position in shares of Avery Dennison by 7.6% during the first quarter. Focus Partners Wealth now owns 3,918 shares of the industrial products company's stock valued at $697,000 after buying an additional 278 shares during the period. Intech Investment Management LLC purchased a new position in shares of Avery Dennison during the first quarter valued at about $1,209,000. EverSource Wealth Advisors LLC increased its position in shares of Avery Dennison by 164.6% during the second quarter. EverSource Wealth Advisors LLC now owns 389 shares of the industrial products company's stock valued at $68,000 after buying an additional 242 shares during the period. Finally, Marshall Wace LLP purchased a new position in shares of Avery Dennison during the second quarter valued at about $241,000. Hedge funds and other institutional investors own 94.17% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on AVY shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Avery Dennison in a research report on Wednesday, April 1st. They set a "buy" rating and a $200.00 price target on the stock. Raymond James Financial set a $192.00 price target on shares of Avery Dennison in a research report on Tuesday, April 21st. JPMorgan Chase & Co. reduced their price target on shares of Avery Dennison from $205.00 to $185.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 29th. Citigroup reduced their price target on shares of Avery Dennison from $190.00 to $185.00 and set a "neutral" rating on the stock in a research report on Thursday, April 30th. Finally, BMO Capital Markets boosted their price target on shares of Avery Dennison from $215.00 to $224.00 and gave the company an "outperform" rating in a research report on Friday, February 6th. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Avery Dennison presently has a consensus rating of "Moderate Buy" and an average target price of $204.11.

Insider Buying and Selling

In related news, Director Mitchell R. Butier sold 13,000 shares of the business's stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $171.50, for a total transaction of $2,229,500.00. Following the sale, the director owned 198,147 shares of the company's stock, valued at $33,982,210.50. The trade was a 6.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.81% of the stock is owned by insiders.

Avery Dennison Trading Down 0.0%

NYSE:AVY opened at $159.62 on Monday. Avery Dennison Corporation has a one year low of $152.68 and a one year high of $199.54. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.15 and a quick ratio of 0.80. The company's 50-day simple moving average is $166.39 and its 200 day simple moving average is $177.01. The firm has a market capitalization of $12.21 billion, a P/E ratio of 18.00, a PEG ratio of 2.75 and a beta of 0.84.

Avery Dennison (NYSE:AVY - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The industrial products company reported $2.47 EPS for the quarter, topping the consensus estimate of $2.41 by $0.06. Avery Dennison had a net margin of 7.66% and a return on equity of 33.69%. The business had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the previous year, the firm posted $2.30 earnings per share. Avery Dennison's quarterly revenue was up 7.0% on a year-over-year basis. Avery Dennison has set its Q2 2026 guidance at 2.430-2.53 EPS. As a group, analysts forecast that Avery Dennison Corporation will post 10.05 EPS for the current fiscal year.

Avery Dennison Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, June 3rd. This is an increase from Avery Dennison's previous quarterly dividend of $0.94. This represents a $4.00 annualized dividend and a yield of 2.5%. Avery Dennison's payout ratio is presently 42.39%.

Avery Dennison Company Profile

Avery Dennison NYSE: AVY is a global materials science and manufacturing company specializing in labeling and packaging solutions. The company develops pressure-sensitive materials, tags and labels, and adhesive technologies that help brands and businesses enhance product identification, branding and supply-chain performance. Avery Dennison's offerings range from industrial and retail labeling to high-performance tapes, films and graphics materials used across multiple end markets.

The company operates through several key segments, including Label and Graphic Materials, which supplies pressure-sensitive materials for consumer goods; Retail Branding and Information Solutions, offering apparel tags, RFID inlays and digital product identification; Pressure-Sensitive Materials, providing specialty tapes and adhesives; and RF Technologies, focused on advanced RFID and IoT labeling solutions.

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