Avery Dennison (NYSE:AVY) Director Sells $775,200.00 in Stock

Avery Dennison Corporation (NYSE:AVY) Director Andres Alberto Lopez sold 4,000 shares of Avery Dennison stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $193.80, for a total value of $775,200.00. Following the sale, the director directly owned 1,147 shares of the company’s stock, valued at $222,288.60. This trade represents a 77.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Avery Dennison Stock Performance

NYSE AVY traded down $2.89 during trading hours on Friday, reaching $186.81. The stock had a trading volume of 604,340 shares, compared to its average volume of 744,467. The stock has a fifty day moving average of $174.75 and a 200 day moving average of $172.30. The stock has a market cap of $14.11 billion, a P/E ratio of 20.22, a price-to-earnings-growth ratio of 2.27 and a beta of 0.77. Avery Dennison Corporation has a 52-week low of $152.42 and a 52-week high of $199.54. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.80 and a current ratio of 1.16.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings results on Thursday, October 29th. The industrial products company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.10. Avery Dennison had a net margin of 7.56% and a return on equity of 33.88%. The company had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter in the prior year, the company earned $2.37 EPS. Avery Dennison’s quarterly revenue was up 5.2% on a year-over-year basis. Sell-side analysts predict that Avery Dennison Corporation will post 10.17 earnings per share for the current year.

Avery Dennison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 16th. Stockholders of record on Wednesday, December 2nd will be paid a $1.00 dividend. The ex-dividend date is Wednesday, December 2nd. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.1%. Avery Dennison’s dividend payout ratio is presently 43.29%.

Institutional Trading of Avery Dennison

A number of hedge funds have recently added to or reduced their stakes in AVY. Bank of America Corp DE acquired a new position in shares of Avery Dennison during the 2nd quarter valued at about $142,169,000. QRG Capital Management Inc. increased its position in Avery Dennison by 172.3% during the second quarter. QRG Capital Management Inc. now owns 7,301 shares of the industrial products company’s stock worth $1,185,000 after purchasing an additional 4,620 shares during the last quarter. HighTower Advisors LLC increased its position in Avery Dennison by 32.9% during the second quarter. HighTower Advisors LLC now owns 68,647 shares of the industrial products company’s stock worth $11,145,000 after purchasing an additional 17,003 shares during the last quarter. AXQ Capital LP purchased a new position in Avery Dennison during the second quarter worth about $1,053,000. Finally, Corient Private Wealth LP raised its stake in Avery Dennison by 91.1% during the second quarter. Corient Private Wealth LP now owns 124,011 shares of the industrial products company’s stock worth $20,133,000 after purchasing an additional 59,109 shares during the period. 94.17% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Weiss Ratings upgraded shares of Avery Dennison from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday. UBS Group increased their price target on Avery Dennison from $225.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, October 30th. Citigroup lifted their price objective on Avery Dennison from $186.00 to $191.00 and gave the company a “neutral” rating in a research note on Monday. JPMorgan Chase & Co. boosted their price objective on Avery Dennison from $190.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, October 30th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $181.00 target price on shares of Avery Dennison in a research note on Monday, September 28th. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $201.10.

Avery Dennison Company Profile

Avery Dennison Corporation (NYSE: AVY) is a global materials science and manufacturing company that develops and produces labeling, packaging, graphic, and functional materials. Its products are used by businesses across industries including consumer goods, retail, logistics, apparel, automotive, healthcare, and industrial manufacturing.

The company’s offerings include pressure-sensitive labels and label materials, adhesives, industrial and specialty tapes, graphic films, and packaging materials.