Quantinno Capital Management LP Grows Stock Holdings in Avery Dennison Corporation $AVY

Quantinno Capital Management LP lifted its position in Avery Dennison Corporation (NYSE:AVY) by 13.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 306,826 shares of the industrial products company’s stock after buying an additional 35,924 shares during the period. Quantinno Capital Management LP owned approximately 0.40% of Avery Dennison worth $52,983,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of AVY. Vanguard Group Inc. boosted its stake in Avery Dennison by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 10,448,799 shares of the industrial products company’s stock valued at $1,900,428,000 after acquiring an additional 69,662 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Avery Dennison by 12.5% during the third quarter. Wellington Management Group LLP now owns 5,808,960 shares of the industrial products company’s stock worth $942,039,000 after purchasing an additional 644,664 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Avery Dennison by 20.1% during the 4th quarter. Morgan Stanley now owns 3,869,889 shares of the industrial products company’s stock valued at $703,856,000 after purchasing an additional 647,795 shares during the last quarter. State Street Corp lifted its holdings in shares of Avery Dennison by 0.9% during the 4th quarter. State Street Corp now owns 3,701,598 shares of the industrial products company’s stock valued at $673,247,000 after purchasing an additional 34,124 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of Avery Dennison by 4.9% in the 3rd quarter. Invesco Ltd. now owns 1,659,862 shares of the industrial products company’s stock worth $269,180,000 after purchasing an additional 77,272 shares in the last quarter. Institutional investors own 94.17% of the company’s stock.

Avery Dennison Price Performance

NYSE AVY opened at $167.32 on Thursday. The company has a market cap of $12.80 billion, a price-to-earnings ratio of 18.86, a PEG ratio of 3.01 and a beta of 0.82. 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 stock’s fifty day moving average price is $160.14 and its 200 day moving average price is $171.33. Avery Dennison Corporation has a 1 year low of $152.42 and a 1 year high of $199.54.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $2.47 EPS for the quarter, topping analysts’ consensus estimates of $2.41 by $0.06. The company had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.26 billion. Avery Dennison had a return on equity of 33.69% and a net margin of 7.66%.The firm’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.30 EPS. As a group, equities research analysts forecast that Avery Dennison Corporation will post 10 earnings per share for the current year.

Avery Dennison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, September 2nd will be given a $1.00 dividend. The ex-dividend date is Wednesday, September 2nd. This represents a $4.00 dividend on an annualized basis and a yield of 2.4%. Avery Dennison’s dividend payout ratio is currently 45.10%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Truist Financial dropped their target price on Avery Dennison from $221.00 to $209.00 and set a “buy” rating on the stock in a research note on Wednesday, July 15th. JPMorgan Chase & Co. lowered their price target on Avery Dennison from $205.00 to $185.00 and set an “overweight” rating for the company in a report on Wednesday, April 29th. Citigroup dropped their price target on Avery Dennison from $185.00 to $184.00 and set a “neutral” rating on the stock in a research note on Thursday, July 9th. Bank of America upped their price objective on shares of Avery Dennison from $202.00 to $210.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Finally, Argus set a $175.00 price objective on shares of Avery Dennison in a research report on Thursday, June 4th. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Avery Dennison currently has a consensus rating of “Moderate Buy” and a consensus price target of $200.11.

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.