Avery Dennison Corporation (NYSE:AVY) CAO Lori J. Bondar sold 10,855 shares of Avery Dennison Corporation stock in a transaction on Monday, November 20th. The shares were sold at an average price of $110.88, for a total value of $1,203,602.40. Following the completion of the sale, the chief accounting officer now directly owns 18,556 shares of the company’s stock, valued at approximately $2,057,489.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Avery Dennison Corporation (NYSE AVY) traded up $2.41 during mid-day trading on Tuesday, reaching $110.70. The company’s stock had a trading volume of 946,100 shares, compared to its average volume of 656,819. Avery Dennison Corporation has a 1 year low of $69.53 and a 1 year high of $111.31. 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 stock has a market capitalization of $9,530.00, a P/E ratio of 23.19, a PEG ratio of 3.14 and a beta of 1.22.
Avery Dennison Corporation (NYSE:AVY) last posted its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.05. Avery Dennison Corporation had a return on equity of 40.52% and a net margin of 6.27%. The firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the previous year, the business earned $1.01 earnings per share. The firm’s quarterly revenue was up 11.3% compared to the same quarter last year. equities analysts predict that Avery Dennison Corporation will post 4.93 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Wednesday, December 6th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend is Tuesday, December 5th. Avery Dennison Corporation’s dividend payout ratio (DPR) is presently 40.18%.
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A number of brokerages have recently commented on AVY. 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 objective on Avery Dennison Corporation from $105.00 to $120.00 and gave the company an “overweight” rating in a research report on Monday, October 30th. KeyCorp reaffirmed a “hold” rating on shares of Avery Dennison Corporation in a research report on Monday, October 30th. Robert W. Baird reaffirmed a “buy” rating and issued a $115.00 price objective on shares of Avery Dennison Corporation in a research report on Friday, October 27th. Finally, Loop Capital lifted their price objective on Avery Dennison Corporation from $99.00 to $106.00 and gave the company a “hold” rating in a research report on Thursday, October 26th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Avery Dennison Corporation presently has an average rating of “Buy” and a consensus target price of $105.71.
A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Avery Dennison Corporation by 2.3% during the second quarter. Vanguard Group Inc. now owns 9,196,133 shares of the industrial products company’s stock valued at $812,662,000 after acquiring an additional 204,239 shares during the period. State Street Corp lifted its stake in shares of Avery Dennison Corporation by 5.0% during the second quarter. State Street Corp now owns 4,776,961 shares of the industrial products company’s stock worth $422,140,000 after purchasing an additional 229,297 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Avery Dennison Corporation by 21.3% during the second quarter. Victory Capital Management Inc. now owns 1,937,495 shares of the industrial products company’s stock worth $171,216,000 after purchasing an additional 340,139 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Avery Dennison Corporation by 110.5% during the second quarter. Principal Financial Group Inc. now owns 1,759,374 shares of the industrial products company’s stock worth $155,476,000 after purchasing an additional 923,548 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake in shares of Avery Dennison Corporation by 1.7% during the second quarter. Wells Fargo & Company MN now owns 1,013,602 shares of the industrial products company’s stock worth $89,571,000 after purchasing an additional 17,094 shares in the last quarter. 86.80% of the stock is owned by hedge funds and other institutional investors.
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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