Capital Planning Advisors LLC Has $1.15 Million Holdings in Avery Dennison Corporation (NYSE:AVY)

Capital Planning Advisors LLC trimmed its holdings in shares of Avery Dennison Corporation (NYSE:AVY) by 6.1% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,431 shares of the industrial products company’s stock after selling 420 shares during the quarter. Capital Planning Advisors LLC’s holdings in Avery Dennison were worth $1,145,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Bayforest Capital Ltd bought a new stake in Avery Dennison during the 1st quarter worth approximately $27,000. SouthState Corp increased its stake in Avery Dennison by 195.7% during the 1st quarter. SouthState Corp now owns 207 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 137 shares in the last quarter. Costello Asset Management INC bought a new stake in Avery Dennison during the 1st quarter worth approximately $40,000. American National Bank & Trust bought a new stake in Avery Dennison during the 1st quarter worth approximately $49,000. Finally, Grove Bank & Trust increased its stake in Avery Dennison by 17.7% during the 1st quarter. Grove Bank & Trust now owns 393 shares of the industrial products company’s stock worth $70,000 after purchasing an additional 59 shares in the last quarter. 94.17% of the stock is owned by institutional investors.

Avery Dennison Trading Up 0.5%

NYSE AVY opened at $170.84 on Monday. The company has a market cap of $13.32 billion, a PE ratio of 19.17, a PEG ratio of 2.63 and a beta of 0.88. The company has a current ratio of 1.04, a quick ratio of 0.70 and a debt-to-equity ratio of 1.19. Avery Dennison Corporation has a 12 month low of $157.00 and a 12 month high of $224.38. The stock has a 50 day moving average of $176.93 and a 200-day moving average of $177.77.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings results on Tuesday, July 22nd. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.04. Avery Dennison had a return on equity of 33.14% and a net margin of 8.14%. The business had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.23 billion. During the same quarter last year, the firm posted $2.42 EPS. The company’s quarterly revenue was down .7% on a year-over-year basis. On average, equities research analysts anticipate 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 will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd will be issued a dividend of $0.94 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $3.76 annualized dividend and a yield of 2.2%. Avery Dennison’s dividend payout ratio (DPR) is currently 42.20%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on AVY shares. Bank of America increased their target price on Avery Dennison from $195.00 to $208.00 and gave the stock a “buy” rating in a research note on Wednesday, July 9th. Argus cut shares of Avery Dennison from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 12th. Wall Street Zen raised shares of Avery Dennison from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. BMO Capital Markets reaffirmed an “outperform” rating and set a $207.00 price target (down from $216.00) on shares of Avery Dennison in a research note on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. raised their price target on shares of Avery Dennison from $172.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 23rd. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Avery Dennison presently has a consensus rating of “Moderate Buy” and a consensus price target of $197.60.

Avery Dennison Profile

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.