The Manufacturers Life Insurance Company Has $125.16 Million Stock Holdings in Avery Dennison Corporation $AVY

The Manufacturers Life Insurance Company decreased its holdings in shares of Avery Dennison Corporation (NYSE:AVY) by 1.2% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 724,797 shares of the industrial products company’s stock after selling 8,729 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Avery Dennison were worth $125,158,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Bartlett & CO. Wealth Management LLC grew its stake in Avery Dennison by 16,900.0% during the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 170 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 169 shares in the last quarter. Root Financial Partners LLC lifted its position in shares of Avery Dennison by 60.8% in the fourth quarter. Root Financial Partners LLC now owns 193 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 73 shares in the last quarter. Measured Wealth Private Client Group LLC purchased a new stake in shares of Avery Dennison in the third quarter worth approximately $36,000. Godfrey Financial Associates Inc. acquired a new stake in shares of Avery Dennison during the fourth quarter worth approximately $37,000. Finally, CYBER HORNET ETFs LLC purchased a new position in Avery Dennison during the second quarter valued at approximately $37,000. 94.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AVY. Citigroup dropped their price objective on shares of 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 target on shares of Avery Dennison from $202.00 to $210.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Weiss Ratings lowered Avery Dennison from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, June 8th. Argus set a $175.00 price objective on Avery Dennison in a research report on Thursday, June 4th. Finally, Truist Financial lowered 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. 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, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $200.11.

Avery Dennison Price Performance

NYSE AVY opened at $169.14 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 1.15 and a debt-to-equity ratio of 1.38. The stock has a market capitalization of $12.94 billion, a PE ratio of 19.07, a price-to-earnings-growth ratio of 2.90 and a beta of 0.82. The company has a 50 day moving average price of $159.96 and a two-hundred day moving average price of $171.46. Avery Dennison Corporation has a 12-month low of $152.42 and a 12-month high of $199.54.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $2.47 EPS 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 analyst estimates of $2.26 billion. Avery Dennison had a net margin of 7.66% and a return on equity of 33.69%. Avery Dennison’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.30 EPS. As a group, equities analysts predict that Avery Dennison Corporation will post 10 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

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

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.