Avery Dennison Co. (NYSE:AVY) SVP Sells $684,510.00 in Stock

Avery Dennison Co. (NYSE:AVY) SVP Deena Baker-Nel sold 3,000 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $228.17, for a total value of $684,510.00. Following the sale, the senior vice president now owns 1,577 shares of the company’s stock, valued at $359,824.09. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Avery Dennison Stock Performance

AVY traded up $0.05 during trading on Friday, reaching $227.08. 197,602 shares of the company’s stock were exchanged, compared to its average volume of 439,790. Avery Dennison Co. has a fifty-two week low of $158.93 and a fifty-two week high of $229.98. The company has a market capitalization of $18.29 billion, a P/E ratio of 33.07, a PEG ratio of 2.11 and a beta of 0.91. The company has a quick ratio of 0.58, a current ratio of 0.87 and a debt-to-equity ratio of 0.94. The business has a 50 day moving average price of $219.30 and a 200 day moving average price of $206.56.

Avery Dennison (NYSE:AVY) last issued its earnings results on Wednesday, April 24th. The industrial products company reported $2.29 EPS for the quarter, beating the consensus estimate of $2.15 by $0.14. Avery Dennison had a net margin of 6.56% and a return on equity of 32.59%. The company had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.15 billion. As a group, analysts predict that Avery Dennison Co. will post 9.31 earnings per share for the current fiscal year.

Avery Dennison Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Wednesday, June 5th will be given a $0.88 dividend. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $3.52 dividend on an annualized basis and a yield of 1.55%. This is an increase from Avery Dennison’s previous quarterly dividend of $0.81. Avery Dennison’s dividend payout ratio (DPR) is 47.30%.

Institutional Investors Weigh In On Avery Dennison

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Avery Dennison in the third quarter valued at approximately $32,000. Milestone Investment Advisors LLC acquired a new stake in shares of Avery Dennison during the 3rd quarter worth about $36,000. VisionPoint Advisory Group LLC bought a new stake in shares of Avery Dennison during the 4th quarter worth about $42,000. Anchor Investment Management LLC bought a new position in Avery Dennison in the 4th quarter valued at about $42,000. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its position in Avery Dennison by 164.4% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 267 shares of the industrial products company’s stock worth $54,000 after acquiring an additional 166 shares during the last quarter. 94.17% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Raymond James reiterated an “outperform” rating and issued a $240.00 price objective (up previously from $225.00) on shares of Avery Dennison in a research note on Thursday, April 25th. Argus increased their price target on shares of Avery Dennison from $240.00 to $245.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Truist Financial lifted their price objective on shares of Avery Dennison from $248.00 to $253.00 and gave the company a “buy” rating in a research note on Friday, April 26th. JPMorgan Chase & Co. increased their price objective on Avery Dennison from $218.00 to $220.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Finally, Robert W. Baird upped their target price on Avery Dennison from $215.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Avery Dennison currently has a consensus rating of “Moderate Buy” and an average price target of $228.50.

About Avery Dennison

Avery Dennison Corporation operates as a materials science and digital identification solutions company in the United States, Europe, the Middle East, North Africa, Asia, Latin, America, and internationally. It provides pressure-sensitive materials comprising papers, plastic films, metal foils, and fabrics; performance tapes products, including tapes for wire harnessing, as well as cable wrapping for automotive, electrical, and general industrial applications; mechanical fasteners, which are precision-extruded and injection-molded plastic devices used in various automotive, general industrial, and retail applications; and other pressure-sensitive adhesive-based materials and converted products under the Fasson, JAC, Yongle, and Avery Dennison brands.