PNC Financial Services Group Inc. Sells 4,692 Shares of Avery Dennison Corporation $AVY

PNC Financial Services Group Inc. lowered its holdings in shares of Avery Dennison Corporation (NYSE:AVY) by 12.2% in the first quarter, Holdings Channel.com reports. The institutional investor owned 33,734 shares of the industrial products company’s stock after selling 4,692 shares during the period. PNC Financial Services Group Inc.’s holdings in Avery Dennison were worth $5,825,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of AVY. Empowered Funds LLC raised its stake in Avery Dennison by 6.4% during the first quarter. Empowered Funds LLC now owns 13,534 shares of the industrial products company’s stock worth $2,409,000 after acquiring an additional 819 shares in the last quarter. Focus Partners Wealth boosted its stake in shares of Avery Dennison by 7.6% in the 1st quarter. Focus Partners Wealth now owns 3,918 shares of the industrial products company’s stock valued at $697,000 after purchasing an additional 278 shares in the last quarter. Intech Investment Management LLC bought a new stake in shares of Avery Dennison during the 1st quarter valued at approximately $1,209,000. EverSource Wealth Advisors LLC lifted its stake in Avery Dennison by 164.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 389 shares of the industrial products company’s stock valued at $68,000 after purchasing an additional 242 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in Avery Dennison in the 2nd quarter valued at approximately $241,000. 94.17% of the stock is currently owned by institutional investors.

Avery Dennison Trading Up 0.1%

Shares of NYSE AVY opened at $161.11 on Monday. The firm has a 50 day moving average price of $159.54 and a two-hundred day moving average price of $171.68. The stock has a market cap of $12.32 billion, a P/E ratio of 18.16, a price-to-earnings-growth ratio of 2.86 and a beta of 0.82. Avery Dennison Corporation has a 52-week low of $152.42 and a 52-week high of $199.54. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.80 and a current ratio of 1.15.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings data on Tuesday, April 28th. The industrial products company reported $2.47 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.06. The company had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.26 billion. Avery Dennison had a net margin of 7.66% and a return on equity of 33.69%. Avery Dennison’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.30 earnings per share. Avery Dennison has set its Q2 2026 guidance at 2.430-2.53 EPS. As a group, equities analysts forecast that Avery Dennison Corporation will post 10 EPS for the current year.

Avery Dennison Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 2nd will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $4.00 annualized dividend and a yield of 2.5%. Avery Dennison’s payout ratio is presently 45.10%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Truist Financial decreased their target price on shares of Avery Dennison from $221.00 to $209.00 and set a “buy” rating on the stock in a research note on Wednesday, July 15th. Raymond James Financial set a $192.00 price target on Avery Dennison in a research note on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft assumed coverage on Avery Dennison in a report on Wednesday, April 1st. They set a “buy” rating and a $200.00 price objective on the stock. UBS Group reduced their price objective on Avery Dennison from $226.00 to $222.00 and set a “buy” rating on the stock in a research report on Friday, April 10th. Finally, Argus set a $175.00 target price on Avery Dennison in a research report on Thursday, June 4th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Avery Dennison presently has a consensus rating of “Moderate Buy” and an average target price 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.