Analysts have given Avery Dennison (NYSE:AVY) a fresh coat of paint with the one-year price target now standing at 228.58 per share. This marks a 6.39% upgrade from the previous projection of 214.85 dated January 16, 2024.
This price target represents the collective wisdom of analysts, with the latest range spanning from a low of 196.95 to a high of 260.40 per share. The average price forecast signifies a 6.47% upswing from the most recent closing price of 214.69 per share.
Peeking into Fund Sentiment
Ownership stakes in Avery Dennison are on the rise, with 1450 funds or institutions reporting positions in the firm. This upsurge witnessed 30 new owners, translating to a 2.11% quarterly surge. The average portfolio weight allocated to AVY by all these funds stands at 0.25%, marking a 1.04% decrease. Institutional holdings of AVY dwindled by 0.39% over the last three months to 90,751K shares. 
The put/call ratio for AVY sits at 2.71, signaling a bearish sentiment in the market.
Actions of Key Shareholders
T. Rowe Price Investment Management holds 4,277K shares, representing a 5.31% stake in the enterprise. In their previous filing, the firm declared ownership of 4,249K shares, marking an increment of 0.65%. The portfolio allocation in AVY increased by 2.47% during the last quarter.
Ameriprise Financial maintains 2,799K shares, owning 3.48% of AVY. In the previous filing, they disclosed 2,670K shares, signaling an upswing of 4.59%. Nevertheless, the firm cut its AVY stake by a substantial 80.78% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 2,503K shares, accounting for a 3.11% interest in AVY. In contrast, their previous report showed ownership of 2,519K shares, denoting a 0.62% reduction. The fund ramped up its AVY allocation by 9.69% in the preceding quarter.
Lazard Asset Management owns 2,109K shares, representing a 2.62% chunk of AVY. Their former disclosure illustrated 2,206K shares, indicating a 4.64% drop. The firm scaled back its AVY holding by 77.50% in the last quarter.
RPMGX – T. Rowe Price Mid-Cap Growth Fund owns 1,991K shares, holding 2.47% ownership of AVY. Their previous filing portrayed ownership of 2,000K shares, showcasing a 0.44% decrease. The fund, however, increased its stake in AVY by 13.04% over the past quarter.
A Closer Look at Avery Dennison
(This description is provided by the firm itself.)
Avery Dennison operates as a global materials science company, specializing in producing a diverse range of labeling and functional materials. Their products cater to various industries and include pressure-sensitive materials for labels and graphic applications, bonding solutions for industrial, medical, and retail applications, as well as tags, labels, and embellishments for apparel. The firm, headquartered in Glendale, California, with a workforce exceeding 32,000 spread across 50 countries, reported sales of $7.0 billion in 2020.
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