Julia A. Stewart Sells 4,000 Shares of Avery Dennison Corporation (AVY) Stock
Avery Dennison Corporation (NYSE:AVY) Director Julia A. Stewart sold 4,000 shares of the firm’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $108.42, for a total value of $433,680.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Shares of Avery Dennison Corporation (AVY) opened at $108.29 on Friday. Avery Dennison Corporation has a 52-week low of $69.53 and a 52-week high of $108.99. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.82 and a current ratio of 1.13. The company has a market capitalization of $9,533.42, a PE ratio of 23.19, a price-to-earnings-growth ratio of 3.14 and a beta of 1.22.
Avery Dennison Corporation (NYSE:AVY) last released its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $1.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.05. The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.65 billion. Avery Dennison Corporation had a return on equity of 40.52% and a net margin of 6.27%. The company’s revenue was up 11.3% on a year-over-year basis. During the same quarter last year, the business posted $1.01 EPS. equities analysts forecast that Avery Dennison Corporation will post 4.93 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Wednesday, December 6th will be paid a dividend of $0.45 per share. The ex-dividend date is Tuesday, December 5th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.66%. Avery Dennison Corporation’s payout ratio is currently 40.18%.
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AVY has been the subject of a number of recent analyst reports. Robert W. Baird reissued a “buy” rating and issued a $100.00 price objective on shares of Avery Dennison Corporation in a research report on Friday, September 1st. Loop Capital initiated coverage on Avery Dennison Corporation in a research report on Thursday, September 28th. They issued a “hold” rating and a $99.00 price objective for the company. Zacks Investment Research raised Avery Dennison Corporation from a “hold” rating to a “buy” rating and set a $120.00 price objective for the company in a research report on Tuesday, November 7th. Barclays PLC lifted their price target on Avery Dennison Corporation from $105.00 to $120.00 and gave the stock an “overweight” rating in a research report on Monday, October 30th. Finally, J P Morgan Chase & Co cut Avery Dennison Corporation from an “overweight” rating to a “neutral” rating in a research report on Thursday, October 26th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $105.71.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in AVY. Principal Financial Group Inc. raised its stake in shares of Avery Dennison Corporation by 110.5% during the 2nd quarter. Principal Financial Group Inc. now owns 1,759,374 shares of the industrial products company’s stock valued at $155,476,000 after buying an additional 923,548 shares during the last quarter. Congress Asset Management Co. MA purchased a new position in shares of Avery Dennison Corporation during the 2nd quarter valued at about $71,964,000. State of Tennessee Treasury Department raised its stake in shares of Avery Dennison Corporation by 265.7% during the 3rd quarter. State of Tennessee Treasury Department now owns 490,850 shares of the industrial products company’s stock valued at $48,270,000 after buying an additional 356,628 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Avery Dennison Corporation by 21.3% during the 2nd quarter. Victory Capital Management Inc. now owns 1,937,495 shares of the industrial products company’s stock valued at $171,216,000 after buying an additional 340,139 shares during the last quarter. Finally, Marshall Wace North America L.P. raised its stake in shares of Avery Dennison Corporation by 67.9% during the 2nd quarter. Marshall Wace North America L.P. now owns 648,482 shares of the industrial products company’s stock valued at $57,067,000 after buying an additional 262,211 shares during the last quarter. Institutional investors and hedge funds own 86.43% of the company’s stock.
About Avery Dennison Corporation
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 segments include Label and Graphic Materials (LGM); Retail Branding and Information Solutions (RBIS), and Industrial and Healthcare Materials (IHM).
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