Avery Dennison Corp (NYSE:AVY) VP Susan C. Miller sold 6,080 shares of the stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $118.98, for a total value of $723,398.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of AVY stock opened at $113.34 on Friday. The stock has a 50-day simple moving average of $115.99 and a 200 day simple moving average of $116.20. Avery Dennison Corp has a fifty-two week low of $76.96 and a fifty-two week high of $141.09. The stock has a market capitalization of $9.46 billion, a P/E ratio of 18.34, a P/E/G ratio of 2.77 and a beta of 1.18. The company has a quick ratio of 0.86, a current ratio of 1.22 and a debt-to-equity ratio of 1.65.
Avery Dennison (NYSE:AVY) last released its quarterly earnings results on Monday, July 27th. The industrial products company reported $1.27 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.14. Avery Dennison had a return on equity of 45.88% and a net margin of 7.68%. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same quarter last year, the company posted $1.72 EPS. Avery Dennison’s revenue for the quarter was down 14.9% on a year-over-year basis. On average, sell-side analysts anticipate that Avery Dennison Corp will post 6.1 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, September 2nd will be given a $0.58 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.05%. Avery Dennison’s dividend payout ratio (DPR) is 35.15%.
Several research firms have recently issued reports on AVY. JPMorgan Chase & Co. raised Avery Dennison from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $110.00 to $115.00 in a research note on Tuesday, July 28th. They noted that the move was a valuation call. UBS Group increased their price target on Avery Dennison from $126.00 to $128.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Morgan Stanley increased their price target on Avery Dennison from $105.00 to $112.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 28th. KeyCorp reissued a “hold” rating on shares of Avery Dennison in a research note on Monday, July 27th. Finally, Zacks Investment Research cut Avery Dennison from a “hold” rating to a “sell” rating and set a $118.00 price target for the company. in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $126.17.
Several large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its position in shares of Avery Dennison by 28.6% in the 1st quarter. JPMorgan Chase & Co. now owns 2,633,455 shares of the industrial products company’s stock valued at $268,271,000 after purchasing an additional 586,042 shares during the period. Victory Capital Management Inc. boosted its position in shares of Avery Dennison by 6.4% in the 1st quarter. Victory Capital Management Inc. now owns 2,047,177 shares of the industrial products company’s stock valued at $208,545,000 after purchasing an additional 123,633 shares during the period. Geode Capital Management LLC boosted its position in shares of Avery Dennison by 0.8% in the 1st quarter. Geode Capital Management LLC now owns 1,333,498 shares of the industrial products company’s stock valued at $135,588,000 after purchasing an additional 10,957 shares during the period. Fiduciary Management Inc. WI boosted its position in shares of Avery Dennison by 2.5% in the 1st quarter. Fiduciary Management Inc. WI now owns 1,321,998 shares of the industrial products company’s stock valued at $134,672,000 after purchasing an additional 32,071 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Avery Dennison by 14.2% in the 1st quarter. Bank of New York Mellon Corp now owns 1,241,472 shares of the industrial products company’s stock valued at $126,469,000 after purchasing an additional 154,150 shares during the period. Institutional investors and hedge funds own 88.55% of the company’s stock.
Avery Dennison Company Profile
Avery Dennison Corporation produces and sells pressure-sensitive materials worldwide. The company's Label and Graphic Materials segment offers pressure-sensitive label and packaging materials; and graphics and reflective products under the Fasson, JAC, Avery Dennison, and Mactac brands, as well as durable cast and reflective films.
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