Chevy Chase Trust Holdings LLC Decreases Holdings in Avery Dennison Corporation $AVY

Chevy Chase Trust Holdings LLC decreased its position in shares of Avery Dennison Corporation (NYSE:AVY) by 2.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,292 shares of the industrial products company’s stock after selling 975 shares during the period. Chevy Chase Trust Holdings LLC owned 0.05% of Avery Dennison worth $7,246,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Strengthening Families & Communities LLC lifted its position in Avery Dennison by 16.6% during the second quarter. Strengthening Families & Communities LLC now owns 408 shares of the industrial products company’s stock valued at $73,000 after acquiring an additional 58 shares during the last quarter. Bill Few Associates Inc. lifted its position in Avery Dennison by 0.5% during the second quarter. Bill Few Associates Inc. now owns 13,341 shares of the industrial products company’s stock valued at $2,341,000 after acquiring an additional 67 shares during the last quarter. Diversified Trust Co raised its holdings in shares of Avery Dennison by 0.5% in the second quarter. Diversified Trust Co now owns 13,287 shares of the industrial products company’s stock worth $2,331,000 after buying an additional 71 shares during the last quarter. Forum Financial Management LP raised its holdings in shares of Avery Dennison by 5.6% in the first quarter. Forum Financial Management LP now owns 1,384 shares of the industrial products company’s stock worth $246,000 after buying an additional 73 shares during the last quarter. Finally, Brown Advisory Inc. raised its holdings in shares of Avery Dennison by 3.6% in the first quarter. Brown Advisory Inc. now owns 2,169 shares of the industrial products company’s stock worth $386,000 after buying an additional 76 shares during the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Avery Dennison Stock Up 0.5%

Shares of NYSE AVY opened at $160.28 on Tuesday. The company’s 50-day simple moving average is $166.64 and its 200-day simple moving average is $172.33. Avery Dennison Corporation has a 52-week low of $156.23 and a 52-week high of $220.02. The firm has a market cap of $12.50 billion, a price-to-earnings ratio of 17.99, a price-to-earnings-growth ratio of 2.36 and a beta of 0.95. The company has a quick ratio of 0.70, a current ratio of 1.04 and a debt-to-equity ratio of 1.19.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings results on Tuesday, July 22nd. The industrial products company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.04. The firm had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.23 billion. Avery Dennison had a net margin of 8.14% and a return on equity of 33.14%. The company’s revenue for the quarter was down .7% on a year-over-year basis. During the same period last year, the firm posted $2.42 earnings per share. Equities analysts predict that Avery Dennison Corporation will post 9.96 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd were paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Wednesday, September 3rd. Avery Dennison’s dividend payout ratio (DPR) is currently 42.20%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Raymond James Financial raised their price target on shares of Avery Dennison from $194.00 to $200.00 and gave the stock an “outperform” rating in a report on Tuesday, July 15th. Truist Financial decreased their price target on shares of Avery Dennison from $204.00 to $203.00 and set a “buy” rating for the company in a report on Monday, October 13th. Citigroup cut their price objective on shares of Avery Dennison from $191.00 to $177.00 and set a “neutral” rating on the stock in a research note on Monday, September 29th. Bank of America increased their price objective on shares of Avery Dennison from $195.00 to $208.00 and gave the stock a “buy” rating in a research note on Wednesday, July 9th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $207.00 price objective (down previously from $216.00) on shares of Avery Dennison in a research note on Wednesday, July 23rd. Six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $195.30.

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.