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MENTOR, Ohio - Avery Dennison Corporation (NYSE:AVY), a global materials science company with a market capitalization of $14.05 billion and a "GOOD" financial health rating according to InvestingPro, announced the appointment of David Flitman to its board of directors, effective July 23, 2025.
Flitman, 61, currently serves as chief executive officer of US Foods Holding Corporation, a foodservice distributor that reported $37.9 billion in fiscal 2024 revenues. His previous executive experience includes roles as president and CEO of Builders Firstsource Incorporated from 2021 to 2022 and BMC Stock Holdings Incorporated from 2018 to 2021.
Mitch Butier, chairman of the Avery Dennison board, said, "We are extremely pleased to welcome Dave to our board. He brings extensive CEO experience navigating dynamic business environments, as well as deep expertise in the food industry—a segment that represents a significant growth opportunity for Avery Dennison."
Flitman holds a BS in Chemical Engineering from Purdue University.
Avery Dennison, a global materials science and digital identification solutions company, reported sales of $8.8 billion in 2024. The company employs approximately 35,000 people across more than 50 countries, providing labeling and functional materials, RFID technology, and packaging solutions to industries including retail, e-commerce, food and grocery, and automotive. Trading at a P/E ratio of 20.07, the company maintains a solid 2.09% dividend yield and has maintained dividend payments for 55 consecutive years. For detailed analysis and additional insights, investors can access the comprehensive Pro Research Report available on InvestingPro.
The appointment was announced in a company press release.
In other recent news, Avery Dennison reported its second-quarter earnings for 2025, with an adjusted earnings per share (EPS) of $2.42, exceeding the forecast of $2.39. However, the company reported revenue of $2.22 billion, slightly below the expected $2.24 billion. Despite these mixed results, BMO Capital maintained an Outperform rating on Avery Dennison but lowered its price target from $216 to $207. The firm highlighted the company’s strong performance in higher-margin businesses, such as Vestcom and Graphics/Reflectives, which helped counterbalance weaker demand in the apparel sector.
Citi, on the other hand, raised its price target for Avery Dennison from $185 to $191, maintaining a Neutral rating. This decision followed the company’s solid second-quarter results and a third-quarter outlook that was slightly better than anticipated. These developments reflect the ongoing challenges and opportunities Avery Dennison faces in its various business sectors.
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