Wealthfront Advisers LLC Has $2.65 Million Stock Holdings in Avery Dennison Corporation (NYSE:AVY)

Wealthfront Advisers LLC boosted its position in shares of Avery Dennison Corporation (NYSE:AVY - Free Report) by 28.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,879 shares of the industrial products company's stock after acquiring an additional 3,325 shares during the period. Wealthfront Advisers LLC's holdings in Avery Dennison were worth $2,648,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Baker Avenue Asset Management LP increased its stake in Avery Dennison by 5.7% in the fourth quarter. Baker Avenue Asset Management LP now owns 1,100 shares of the industrial products company's stock valued at $206,000 after acquiring an additional 59 shares during the period. Grove Bank & Trust increased its stake in Avery Dennison by 17.7% in the first quarter. Grove Bank & Trust now owns 393 shares of the industrial products company's stock valued at $70,000 after acquiring an additional 59 shares during the period. Smith Moore & CO. increased its stake in Avery Dennison by 1.4% in the fourth quarter. Smith Moore & CO. now owns 4,720 shares of the industrial products company's stock valued at $883,000 after acquiring an additional 63 shares during the period. Brown Advisory Inc. increased its stake in Avery Dennison by 3.6% in the first quarter. Brown Advisory Inc. now owns 2,169 shares of the industrial products company's stock valued at $386,000 after acquiring an additional 76 shares during the period. Finally, TD Private Client Wealth LLC increased its stake in Avery Dennison by 9.3% in the fourth quarter. TD Private Client Wealth LLC now owns 972 shares of the industrial products company's stock valued at $182,000 after acquiring an additional 83 shares during the period. Institutional investors and hedge funds own 94.17% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on AVY shares. Bank of America upped their price objective on shares of Avery Dennison from $195.00 to $208.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Raymond James Financial upped their target price on shares of Avery Dennison from $194.00 to $200.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Citigroup increased their price objective on shares of Avery Dennison from $177.00 to $185.00 and gave the company a "neutral" rating in a report on Friday, July 11th. Argus lowered shares of Avery Dennison from a "strong-buy" rating to a "hold" rating in a report on Monday, May 12th. Finally, Wall Street Zen upgraded shares of Avery Dennison from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $197.50.

Avery Dennison Stock Down 1.2%

Shares of AVY stock traded down $2.14 during trading hours on Friday, hitting $178.66. 519,110 shares of the company were exchanged, compared to its average volume of 651,994. The business has a 50 day moving average of $179.39 and a two-hundred day moving average of $179.53. The company has a current ratio of 1.03, a quick ratio of 0.68 and a debt-to-equity ratio of 1.19. Avery Dennison Corporation has a 52 week low of $157.00 and a 52 week high of $233.48. The company has a market capitalization of $13.97 billion, a PE ratio of 20.58, a PEG ratio of 2.51 and a beta of 0.87.

Avery Dennison (NYSE:AVY - Get Free Report) last released its earnings results on Wednesday, April 23rd. The industrial products company reported $2.30 earnings per share for the quarter, missing analysts' consensus estimates of $2.32 by ($0.02). The business had revenue of $2.15 billion during 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 firm's revenue for the quarter was down .1% on a year-over-year basis. During the same period last year, the business posted $2.29 EPS. Analysts anticipate that Avery Dennison Corporation will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were given a $0.94 dividend. The ex-dividend date was Wednesday, June 4th. This represents a $3.76 dividend on an annualized basis and a yield of 2.10%. This is an increase from Avery Dennison's previous quarterly dividend of $0.88. Avery Dennison's dividend payout ratio (DPR) 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.