Avery Dennison Corp. (AVY) VP Sells $154,720.00 in Stock
Avery Dennison Corp. (NYSE:AVY) VP Susan C. Miller sold 2,000 shares of the business’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $77.36, for a total value of $154,720.00. Following the completion of the transaction, the vice president now directly owns 8,518 shares in the company, valued at approximately $658,952.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of Avery Dennison Corp. (NYSE:AVY) opened at 75.75 on Wednesday. The stock’s 50 day moving average price is $77.34 and its 200-day moving average price is $75.14. Avery Dennison Corp. has a 52-week low of $57.06 and a 52-week high of $79.27. The company has a market cap of $6.73 billion, a P/E ratio of 22.58 and a beta of 0.92.
Avery Dennison Corp. (NYSE:AVY) last announced its earnings results on Tuesday, July 26th. The company reported $1.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.08. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.54 billion. Avery Dennison Corp. had a return on equity of 34.82% and a net margin of 5.18%. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.91 earnings per share. Equities analysts expect that Avery Dennison Corp. will post $3.94 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 21st. Stockholders of record on Wednesday, September 7th were paid a dividend of $0.41 per share. The ex-dividend date was Friday, September 2nd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.17%. Avery Dennison Corp.’s dividend payout ratio (DPR) is currently 48.81%.
Institutional investors have recently made changes to their positions in the company. Aperio Group LLC raised its position in Avery Dennison Corp. by 8.2% in the first quarter. Aperio Group LLC now owns 29,406 shares of the company’s stock worth $2,120,000 after buying an additional 2,216 shares during the period. Nisa Investment Advisors L.L.C. raised its position in Avery Dennison Corp. by 0.3% in the first quarter. Nisa Investment Advisors L.L.C. now owns 21,775 shares of the company’s stock worth $1,570,000 after buying an additional 75 shares during the period. IFP Advisors Inc raised its position in Avery Dennison Corp. by 64.9% in the first quarter. IFP Advisors Inc now owns 2,995 shares of the company’s stock worth $216,000 after buying an additional 1,179 shares during the period. CIBC World Markets Inc. bought a new position in Avery Dennison Corp. during the first quarter worth approximately $1,509,000. Finally, Teachers Advisors Inc. raised its position in Avery Dennison Corp. by 9.1% in the first quarter. Teachers Advisors Inc. now owns 396,956 shares of the company’s stock worth $28,624,000 after buying an additional 33,049 shares during the period. Institutional investors own 89.50% of the company’s stock.
A number of research firms have recently weighed in on AVY. Zacks Investment Research downgraded Avery Dennison Corp. from a “buy” rating to a “hold” rating in a research report on Monday, July 4th. JPMorgan Chase & Co. boosted their target price on Avery Dennison Corp. from $78.00 to $80.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 27th. Finally, Bank of America Corp. downgraded 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. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $78.00.
About Avery Dennison Corp.
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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