Avery Dennison Corporation (NYSE:AVY) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its holdings in shares of Avery Dennison Corporation (NYSE:AVY - Free Report) by 17.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,582,933 shares of the industrial products company's stock after purchasing an additional 233,062 shares during the quarter. Victory Capital Management Inc. owned 2.02% of Avery Dennison worth $281,715,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. American National Bank & Trust bought a new position in shares of Avery Dennison during the first quarter worth about $49,000. Grove Bank & Trust grew its holdings 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 worth $70,000 after buying an additional 59 shares in the last quarter. Abound Financial LLC bought a new position in shares of Avery Dennison during the first quarter worth about $71,000. Farther Finance Advisors LLC grew its holdings 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 worth $77,000 after buying an additional 136 shares in the last quarter. Finally, Headlands Technologies LLC bought a new position in shares of Avery Dennison during the fourth quarter worth about $79,000. Institutional investors and hedge funds own 94.17% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on AVY shares. Jefferies Financial Group started coverage on Avery Dennison in a research note on Tuesday, April 22nd. They issued a "hold" rating and a $175.00 price target for the company. Citigroup raised their price target on Avery Dennison from $177.00 to $185.00 and gave the company a "neutral" rating in a research note on Friday, July 11th. Robert W. Baird decreased their price target on Avery Dennison from $220.00 to $210.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Raymond James Financial raised their price target on Avery Dennison from $194.00 to $200.00 and gave the company an "outperform" rating in a research note on Tuesday. Finally, Bank of America lifted their target price 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 investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $197.50.

Avery Dennison Trading Down 1.0%

Shares of AVY traded down $1.73 during trading hours on Friday, hitting $179.07. The company had a trading volume of 119,444 shares, compared to its average volume of 648,546. Avery Dennison Corporation has a 52-week low of $157.00 and a 52-week high of $233.48. The firm has a market cap of $14.00 billion, a P/E ratio of 20.66, a P/E/G ratio of 2.50 and a beta of 0.87. 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 stock's 50 day moving average price is $179.26 and its 200 day moving average price is $179.64.

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 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 the consensus estimate 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 period in the previous year, the firm posted $2.29 earnings per share. On average, research analysts predict 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 issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 2.10%. The ex-dividend date was Wednesday, June 4th. This is an increase from Avery Dennison's previous quarterly dividend of $0.88. Avery Dennison's dividend payout ratio is 43.32%.

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.