Fintel reports that on October 17, 2024, B of A Securities upgraded their outlook for Avery Dennison (NYSE:AVY) from Underperform to Buy.
Analyst Price Forecast Suggests 12.87% Upside
As of September 25, 2024, the average one-year price target for Avery Dennison is $246.46/share. The forecasts range from a low of $209.07 to a high of $288.75. The average price target represents an increase of 12.87% from its latest reported closing price of $218.36 / share.
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The projected annual revenue for Avery Dennison is 10,220MM, an increase of 18.90%. The projected annual non-GAAP EPS is 11.77.
What is the Fund Sentiment?
There are 1,540 funds or institutions reporting positions in Avery Dennison. This is an increase of 55 owner(s) or 3.70% in the last quarter. Average portfolio weight of all funds dedicated to AVY is 0.25%, an increase of 1.53%. Total shares owned by institutions increased in the last three months by 1.54% to 88,214K shares. 
The put/call ratio of AVY is 6.68, indicating a bearish outlook.
What are Other Shareholders Doing?
T. Rowe Price Investment Management holds 4,212K shares representing 5.23% ownership of the company. In its prior filing, the firm reported owning 4,251K shares , representing a decrease of 0.93%. The firm increased its portfolio allocation in AVY by 0.10% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,542K shares representing 3.16% ownership of the company. In its prior filing, the firm reported owning 2,530K shares , representing an increase of 0.49%. The firm decreased its portfolio allocation in AVY by 4.29% over the last quarter.
Neuberger Berman Group holds 2,137K shares representing 2.65% ownership of the company. In its prior filing, the firm reported owning 1,908K shares , representing an increase of 10.70%. The firm decreased its portfolio allocation in AVY by 43.46% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 2,068K shares representing 2.57% ownership of the company. In its prior filing, the firm reported owning 2,029K shares , representing an increase of 1.89%. The firm decreased its portfolio allocation in AVY by 5.50% over the last quarter.
Ameriprise Financial holds 2,047K shares representing 2.54% ownership of the company. In its prior filing, the firm reported owning 2,464K shares , representing a decrease of 20.37%. The firm decreased its portfolio allocation in AVY by 85.52% over the last quarter.
Avery Dennison Background Information
(This description is provided by the company.)
Avery Dennison is a global materials science company specializing in the design and manufacture of a wide variety of labeling and functional materials. The company's products, which are used in nearly every major industry, include pressure-sensitive materials for labels and graphic applications; tapes and other bonding solutions for industrial, medical, and retail applications; tags, labels and embellishments for apparel; and radio frequency identification (RFID) solutions serving retail apparel and other markets. Headquartered in Glendale, California, the company employs more than 32,000 employees in more than 50 countries. Reported sales in 2020 were $7.0 billion.
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