Avery Dennison Corporation (NYSE:AVY) Sees Significant Drop in Short Interest

Avery Dennison Corporation (NYSE:AVY) saw a significant decrease in short interest in the month of January. As of January 15th, there was short interest totaling 1,932,378 shares, a decrease of 15.5% from the December 31st total of 2,286,064 shares. Currently, 2.5% of the company’s stock are short sold. Based on an average daily trading volume, of 682,220 shares, the short-interest ratio is currently 2.8 days. Based on an average daily trading volume, of 682,220 shares, the short-interest ratio is currently 2.8 days. Currently, 2.5% of the company’s stock are short sold.

Institutional Trading of Avery Dennison

Several large investors have recently added to or reduced their stakes in AVY. Vermillion & White Wealth Management Group LLC raised its stake in shares of Avery Dennison by 89.9% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 80 shares during the last quarter. Bartlett & CO. Wealth Management LLC increased its holdings in Avery Dennison by 16,900.0% in the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 170 shares of the industrial products company’s stock worth $31,000 after buying an additional 169 shares during the period. Steigerwald Gordon & Koch Inc. purchased a new position in Avery Dennison during the 3rd quarter worth approximately $29,000. NewSquare Capital LLC lifted its stake in Avery Dennison by 156.2% during the 2nd quarter. NewSquare Capital LLC now owns 187 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 114 shares during the period. Finally, Atlantic Union Bankshares Corp purchased a new stake in shares of Avery Dennison in the 2nd quarter valued at $35,000. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Analysts Set New Price Targets

AVY has been the subject of a number of analyst reports. BMO Capital Markets restated an “outperform” rating and set a $210.00 price objective on shares of Avery Dennison in a research note on Thursday, October 23rd. UBS Group upgraded shares of Avery Dennison from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $181.00 to $218.00 in a report on Thursday, October 23rd. Argus set a $200.00 price target on shares of Avery Dennison in a report on Tuesday, October 28th. Truist Financial lifted their price objective on shares of Avery Dennison from $213.00 to $234.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Avery Dennison in a research report on Monday, December 29th. Nine equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $204.36.

Avery Dennison Stock Down 0.2%

NYSE:AVY opened at $186.71 on Wednesday. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 1.45. Avery Dennison has a twelve month low of $156.23 and a twelve month high of $190.45. The company has a market cap of $14.43 billion, a PE ratio of 21.24, a P/E/G ratio of 3.14 and a beta of 1.00. The company’s 50 day moving average is $182.20 and its two-hundred day moving average is $174.10.

Avery Dennison Company Profile

Avery Dennison (NYSE:AVY) is a global materials science and manufacturing company specializing in labeling and packaging solutions. The company develops pressure-sensitive materials, tags and labels, and adhesive technologies that help brands and businesses enhance product identification, branding and supply-chain performance. Avery Dennison’s offerings range from industrial and retail labeling to high-performance tapes, films and graphics materials used across multiple end markets.

The company operates through several key segments, including Label and Graphic Materials, which supplies pressure-sensitive materials for consumer goods; Retail Branding and Information Solutions, offering apparel tags, RFID inlays and digital product identification; Pressure-Sensitive Materials, providing specialty tapes and adhesives; and RF Technologies, focused on advanced RFID and IoT labeling solutions.