Xponance Inc. Raises Position in Avery Dennison Corporation (NYSE:AVY)

Xponance Inc. grew its position in Avery Dennison Corporation (NYSE:AVY - Free Report) by 10.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 16,113 shares of the industrial products company's stock after buying an additional 1,514 shares during the period. Xponance Inc.'s holdings in Avery Dennison were worth $2,868,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of AVY. American National Bank & Trust purchased a new position in Avery Dennison in the first quarter worth about $49,000. Grove Bank & Trust raised its holdings in Avery Dennison by 17.7% in 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 during the last quarter. Abound Financial LLC purchased a new position in Avery Dennison in the first quarter worth about $71,000. Farther Finance Advisors LLC raised its holdings in Avery Dennison by 49.8% in 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 during the last quarter. Finally, Jones Financial Companies Lllp raised its holdings in Avery Dennison by 64.6% in the fourth quarter. Jones Financial Companies Lllp now owns 423 shares of the industrial products company's stock worth $79,000 after buying an additional 166 shares during the last quarter. 94.17% of the stock is owned by hedge funds and other institutional investors.

Avery Dennison Stock Performance

AVY opened at $180.56 on Tuesday. Avery Dennison Corporation has a 12-month low of $157.00 and a 12-month high of $233.48. The company has a current ratio of 1.03, a quick ratio of 0.68 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $14.12 billion, a PE ratio of 20.80, a P/E/G ratio of 2.56 and a beta of 0.87. The firm has a 50 day moving average of $178.84 and a two-hundred day moving average of $179.72.

Avery Dennison (NYSE:AVY - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The industrial products company reported $2.30 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.32 by ($0.02). Avery Dennison had a return on equity of 33.11% and a net margin of 7.98%. The business had revenue of $2.15 billion for the quarter, compared to analysts' expectations of $2.15 billion. During the same period in the prior year, the business posted $2.29 earnings per share. The business's quarterly revenue was down .1% compared to the same quarter last year. On average, analysts anticipate that Avery Dennison Corporation will post 9.96 EPS for the current year.

Avery Dennison Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders 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 2.08%. This is a positive change from Avery Dennison's previous quarterly dividend of $0.88. The ex-dividend date was Wednesday, June 4th. Avery Dennison's payout ratio is 43.32%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AVY. Bank of America lifted their target price on shares of Avery Dennison from $195.00 to $208.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. JPMorgan Chase & Co. cut shares of Avery Dennison from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $205.00 to $172.00 in a report on Thursday, April 24th. UBS Group decreased their price objective on shares of Avery Dennison from $207.00 to $189.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Argus cut shares of Avery Dennison from a "strong-buy" rating to a "hold" rating in a report on Monday, May 12th. Finally, Barclays dropped their price target on shares of Avery Dennison from $225.00 to $210.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $196.90.

About Avery Dennison

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.

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