Lazard Asset Management LLC Has $55.13 Million Stock Holdings in Avery Dennison Corporation $AVY

by · The Markets Daily

Lazard Asset Management LLC trimmed its holdings in shares of Avery Dennison Corporation (NYSE:AVY – Free Report) by 23.0% in the first quarter, Holdings Channel.com reports. The firm owned 319,263 shares of the industrial products company’s stock after selling 95,459 shares during the quarter. Lazard Asset Management LLC’s holdings in Avery Dennison were worth $55,130,000 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 lifted its stake in Avery Dennison by 16,900.0% in the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 170 shares of the industrial products company’s stock valued at $31,000 after buying an additional 169 shares in the last quarter. Root Financial Partners LLC increased its position in shares of Avery Dennison by 60.8% during the fourth quarter. Root Financial Partners LLC now owns 193 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 73 shares in the last quarter. Measured Wealth Private Client Group LLC acquired a new stake in shares of Avery Dennison during the third quarter worth $36,000. Godfrey Financial Associates Inc. acquired a new stake in shares of Avery Dennison during the fourth quarter worth $37,000. Finally, CYBER HORNET ETFs LLC bought a new stake in Avery Dennison in the 2nd quarter valued at $37,000. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Avery Dennison Price Performance

Shares of NYSE AVY opened at $163.01 on Tuesday. 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 business has a 50-day moving average of $159.66 and a 200-day moving average of $171.54. The stock has a market capitalization of $12.47 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 2.86 and a beta of 0.82. Avery Dennison Corporation has a fifty-two week low of $152.42 and a fifty-two week high of $199.54.

Avery Dennison (NYSE:AVY – Get Free Report) last released its earnings results on Tuesday, April 28th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.06. Avery Dennison had a return on equity of 33.69% and a net margin of 7.66%.The business had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the prior year, the company posted $2.30 earnings per share. Avery Dennison’s revenue was up 7.0% on a year-over-year basis. As a group, sell-side analysts predict that Avery Dennison Corporation will post 10 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Citigroup lowered their target price on Avery Dennison from $185.00 to $184.00 and set a “neutral” rating for the company in a report on Thursday, July 9th. UBS Group cut their price target on Avery Dennison from $226.00 to $222.00 and set a “buy” rating on the stock in a report on Friday, April 10th. Argus set a $175.00 price objective on Avery Dennison in a research report on Thursday, June 4th. JPMorgan Chase & Co. decreased their price objective on Avery Dennison from $205.00 to $185.00 and set an “overweight” rating for the company in a report on Wednesday, April 29th. Finally, Raymond James Financial set a $192.00 target price on Avery Dennison in a research note on Tuesday, April 21st. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $200.11.

Check Out Our Latest Stock Analysis on AVY

Avery Dennison Profile

(Free Report)

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.

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