Avery Dennison Co. (NYSE:AVY – Get Free Report) Chairman Mitchell R. Butier sold 3,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $202.95, for a total transaction of $608,850.00. Following the completion of the sale, the chairman now owns 304,114 shares in the company, valued at $61,719,936.30. The transaction was disclosed in a filing with the SEC, which is available through this link.
Avery Dennison Trading Up 2.4 %
Shares of AVY opened at $207.78 on Friday. Avery Dennison Co. has a fifty-two week low of $165.21 and a fifty-two week high of $233.48. The firm has a market cap of $16.74 billion, a price-to-earnings ratio of 30.33, a PEG ratio of 1.77 and a beta of 0.88. The firm has a 50 day moving average price of $220.20 and a 200-day moving average price of $216.76. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.60 and a current ratio of 0.90.
Avery Dennison (NYSE:AVY – Get Free Report) last posted its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.16. Avery Dennison had a net margin of 7.34% and a return on equity of 33.44%. The business had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.18 billion. During the same period in the previous year, the firm posted $1.92 earnings per share. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, equities research analysts forecast that Avery Dennison Co. will post 9.39 earnings per share for the current year.
Avery Dennison Dividend Announcement
Analyst Ratings Changes
Several research firms have recently weighed in on AVY. Stifel Nicolaus began coverage on shares of Avery Dennison in a report on Tuesday, July 9th. They issued a “buy” rating and a $274.60 price target on the stock. JPMorgan Chase & Co. raised their price target on Avery Dennison from $218.00 to $220.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. StockNews.com raised Avery Dennison from a “hold” rating to a “buy” rating in a report on Monday, April 22nd. BMO Capital Markets lowered their target price on shares of Avery Dennison from $256.00 to $254.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Finally, UBS Group cut shares of Avery Dennison from a “buy” rating to a “neutral” rating and cut their price target for the stock from $262.00 to $235.00 in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $239.96.
View Our Latest Stock Analysis on AVY
Hedge Funds Weigh In On Avery Dennison
A number of large investors have recently bought and sold shares of the stock. Cerity Partners LLC grew its holdings in shares of Avery Dennison by 4,159.9% in the fourth quarter. Cerity Partners LLC now owns 1,191,228 shares of the industrial products company’s stock worth $240,819,000 after purchasing an additional 1,163,264 shares during the last quarter. Norges Bank bought a new stake in Avery Dennison in the 4th quarter worth $185,292,000. Swedbank AB purchased a new position in shares of Avery Dennison in the first quarter valued at about $102,117,000. Corient Private Wealth LLC increased its position in shares of Avery Dennison by 1,429.4% in the fourth quarter. Corient Private Wealth LLC now owns 262,697 shares of the industrial products company’s stock valued at $53,107,000 after acquiring an additional 245,520 shares during the period. Finally, Jennison Associates LLC bought a new position in shares of Avery Dennison during the first quarter valued at about $44,837,000. 94.17% of the stock is owned by hedge funds and other institutional investors.
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.
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