Universal Beteiligungs Reduces Stake in Avery Dennison by 3.7%

Universal Beteiligungs und Servicegesellschaft mbH has reduced its holdings in **Avery Dennison Corporation** (NYSE: AVY) by **3.7%** during the second quarter of 2023. According to its latest **13F filing** with the **Securities and Exchange Commission** (SEC), the firm sold **4,048 shares**, resulting in a total of **106,607 shares** owned. Following this transaction, Universal Beteiligungs holds approximately **0.14%** of Avery Dennison, valued at **$18,706,000** at the end of the quarter.

Several other institutional investors have also adjusted their positions in Avery Dennison. Notably, **Vanguard Group Inc.** increased its stake by **2.9%** in the first quarter, now owning **9,959,263 shares**, worth approximately **$1.77 billion** after acquiring an additional **277,554 shares**. **Nuveen LLC** made a significant entry by purchasing a new position valued at **$46,322,000** during the same quarter.

In the second quarter, **MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH** acquired shares worth **$39,077,000**, while **Wealthquest Corp** added a new stake valued at **$31,544,000**. Additionally, **Massachusetts Financial Services Co. MA** boosted its holdings by **15.9%**, now owning **939,562 shares** valued at approximately **$164,865,000**. Overall, **94.17%** of Avery Dennison’s stock is currently held by hedge funds and institutional investors.

Avery Dennison Financial Performance

On Wednesday, **Avery Dennison’s** stock opened at **$168.94**. The company boasts a market capitalization of **$13.06 billion**, with a price-to-earnings (P/E) ratio of **19.22**. Its price-to-earnings-growth (PEG) ratio stands at **2.39**, and it has a beta of **0.99**. The company’s debt-to-equity ratio is **1.45**, with a quick ratio of **0.89** and a current ratio of **1.26**. Over the past year, Avery Dennison has seen a low of **$156.23** and a high of **$207.99**, with a **50-day** simple moving average of **$167.65** and a **200-day** simple moving average of **$173.22**.

Avery Dennison recently announced a quarterly dividend of **$0.94** per share, set to be paid on **December 17, 2023**. Shareholders of record on **December 3, 2023**, will receive this dividend, which reflects an annualized payout of **$3.76** and a yield of **2.2%**. The ex-dividend date is also **December 3, 2023**. The company’s dividend payout ratio is **42.78%**.

Analysts Adjust Price Targets

Equities research analysts have been active in reassessing their ratings for Avery Dennison. On **October 23, 2023**, **UBS Group** upgraded its rating from “neutral” to “buy,” increasing the price target from **$181.00** to **$218.00**. Meanwhile, **Weiss Ratings** maintained a “hold (c-)” rating on the stock. **Argus** has set a target price of **$200.00**, and **BMO Capital Markets** reiterated an “outperform” rating with a target of **$210.00**. **JPMorgan Chase & Co.** also upgraded its rating, moving from “neutral” to “overweight” and raising the price target from **$182.00** to **$195.00**.

Currently, nine investment analysts have given the stock a “Buy” rating, while three have assigned a “Hold” rating. According to **MarketBeat**, the consensus rating for Avery Dennison is “Moderate Buy,” with an average price target of **$200.55**.

Avery Dennison Corporation operates globally, providing materials science and digital identification solutions across various regions, including the **United States, Europe, the Middle East, North Africa, Asia**, and **Latin America**. The company offers a wide range of products, including pressure-sensitive materials and performance tapes, under well-known brands such as **Fasson**, **JAC**, **Yongle**, and **Avery Dennison**.

For further updates and analyses, investors can access detailed information on **Avery Dennison** through financial news platforms and stock analysis websites.