Brown Advisory Inc. Has $386,000 Holdings in Avery Dennison Corporation (NYSE:AVY)

Brown Advisory Inc. increased its position in Avery Dennison Corporation (NYSE:AVY) by 3.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,169 shares of the industrial products company’s stock after purchasing an additional 76 shares during the period. Brown Advisory Inc.’s holdings in Avery Dennison were worth $386,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of AVY. Baker Avenue Asset Management LP boosted 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 worth $206,000 after buying an additional 59 shares in the last quarter. Grove Bank & Trust grew its stake in shares of 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 acquiring an additional 59 shares during the last quarter. Smith Moore & CO. boosted its position in shares of Avery Dennison by 1.4% during the fourth quarter. Smith Moore & CO. now owns 4,720 shares of the industrial products company’s stock valued at $883,000 after buying an additional 63 shares during the last quarter. TD Private Client Wealth LLC boosted its position 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 worth $182,000 after purchasing an additional 83 shares during the last quarter. Finally, Figure 8 Investment Strategies LLC boosted its position in Avery Dennison by 1.1% in the first quarter. Figure 8 Investment Strategies LLC now owns 7,889 shares of the industrial products company’s stock worth $1,404,000 after purchasing an additional 83 shares during the last quarter. 94.17% of the stock is currently owned by institutional investors.

Avery Dennison Stock Performance

Shares of Avery Dennison stock opened at $177.11 on Wednesday. The firm’s 50 day moving average is $178.98 and its two-hundred day moving average is $179.70. The company has a quick ratio of 0.68, a current ratio of 1.03 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 firm has a market capitalization of $13.85 billion, a P/E ratio of 20.40, a P/E/G ratio of 2.53 and a beta of 0.87.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings data 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). Avery Dennison had a net margin of 7.98% and a return on equity of 33.11%. The business had revenue of $2.15 billion during the quarter, compared to analysts’ expectations of $2.15 billion. During the same period in the prior year, the firm posted $2.29 EPS. Avery Dennison’s revenue for the quarter was down .1% compared to the same quarter last year. Research analysts forecast that Avery Dennison Corporation will post 9.96 EPS for the current fiscal year.

Avery Dennison Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were paid 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 2.12%. This is a positive change from Avery Dennison’s previous quarterly dividend of $0.88. Avery Dennison’s dividend payout ratio is presently 43.32%.

Analyst Ratings Changes

Several brokerages recently issued reports on AVY. Bank of America lifted their target price on Avery Dennison from $195.00 to $208.00 and gave the company a “buy” rating in a research note on Wednesday, July 9th. JPMorgan Chase & Co. lowered Avery Dennison from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $205.00 to $172.00 in a research report on Thursday, April 24th. BMO Capital Markets reduced their price target on Avery Dennison from $226.00 to $216.00 and set an “outperform” rating for the company in a research report on Friday, April 25th. UBS Group reduced their target price on Avery Dennison from $207.00 to $189.00 and set a “neutral” rating on the stock in a research report on Monday, April 7th. Finally, Truist Financial dropped their price target on Avery Dennison from $215.00 to $210.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $197.50.

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.