Brokerages Set Avery Dennison Corp. (NYSE:AVY) PT at $78.00
Shares of Avery Dennison Corp. (NYSE:AVY) have earned a consensus rating of “Hold” from the seven analysts that are currently covering the company. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $78.00.
Several research firms have recently weighed in on AVY. Zacks Investment Research raised shares of Avery Dennison Corp. from a “sell” rating to a “hold” rating and set a $88.00 price objective for the company in a report on Thursday, July 28th. JPMorgan Chase & Co. boosted their target price on shares of Avery Dennison Corp. from $78.00 to $80.00 and gave the company a “neutral” rating in a research report on Wednesday, July 27th. Finally, Bank of America Corp. lowered shares of Avery Dennison Corp. from a “buy” rating to an “underperform” rating and set a $75.00 target price for the company. in a research report on Friday, July 1st.
In other Avery Dennison Corp. news, insider Dean A. Scarborough sold 130,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $77.05, for a total value of $10,016,500.00. Following the completion of the transaction, the insider now directly owns 261,066 shares in the company, valued at $20,115,135.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Susan C. Miller sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $77.56, for a total transaction of $155,120.00. Following the completion of the transaction, the vice president now owns 8,518 shares of the company’s stock, valued at $660,656.08. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by company insiders.
Several institutional investors have recently bought and sold shares of AVY. Springbok Capital Management LLC purchased a new position in Avery Dennison Corp. during the first quarter worth $136,000. Financial Architects Inc bought a new position in Avery Dennison Corp. during the second quarter valued at approximately $169,000. Whittier Trust Co. increased its position in Avery Dennison Corp. by 21.5% in the second quarter. Whittier Trust Co. now owns 2,357 shares of the company’s stock valued at $176,000 after buying an additional 417 shares during the period. Creative Planning increased its position in Avery Dennison Corp. by 62.0% in the second quarter. Creative Planning now owns 2,578 shares of the company’s stock valued at $193,000 after buying an additional 987 shares during the period. Finally, Veritable L.P. bought a new position in Avery Dennison Corp. during the second quarter valued at approximately $206,000. Institutional investors and hedge funds own 89.50% of the company’s stock.
Shares of Avery Dennison Corp. (NYSE:AVY) opened at 77.05 on Tuesday. The stock has a market cap of $6.85 billion, a PE ratio of 22.97 and a beta of 1.01. The stock’s 50 day moving average is $77.43 and its 200 day moving average is $74.90. Avery Dennison Corp. has a 52-week low of $56.94 and a 52-week high of $79.27.
Avery Dennison Corp. (NYSE:AVY) last released its quarterly earnings data on Tuesday, July 26th. The company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.08. Avery Dennison Corp. had a net margin of 5.18% and a return on equity of 34.82%. The firm earned $1.54 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same period in the previous year, the company earned $0.91 earnings per share. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. Equities research analysts forecast that Avery Dennison Corp. will post $3.94 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 21st. Shareholders of record on Wednesday, September 7th were given a $0.41 dividend. The ex-dividend date of this dividend was Friday, September 2nd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.13%. Avery Dennison Corp.’s payout ratio is currently 48.81%.
Avery Dennison Corp. Company Profile
Avery Dennison Corporation (Avery Dennison) is engaged in the production of pressure-sensitive materials and a range of tickets, tags, labels and other converted products. The Company’s pressure-sensitive materials are sold to label printers and converters that convert the materials into labels and other products through embossing, printing, stamping and die-cutting.
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