Avery Dennison Co. (NYSE:AVY) Short Interest Update

Avery Dennison Co. (NYSE:AVY) was the target of a significant growth in short interest in the month of January. As of January 15th, there was short interest totalling 1,980,000 shares, a growth of 7.0% from the December 31st total of 1,850,000 shares. Approximately 2.5% of the company’s stock are short sold. Based on an average daily trading volume, of 542,600 shares, the short-interest ratio is presently 3.6 days.

Insiders Place Their Bets

In other Avery Dennison news, SVP Nicholas Colisto sold 3,679 shares of Avery Dennison stock in a transaction on Monday, November 25th. The stock was sold at an average price of $206.00, for a total value of $757,874.00. Following the completion of the sale, the senior vice president now owns 7,126 shares of the company’s stock, valued at approximately $1,467,956. This trade represents a 34.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Avery Dennison

Several institutional investors and hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC grew its holdings in shares of Avery Dennison by 25.1% during the second quarter. AQR Capital Management LLC now owns 14,058 shares of the industrial products company’s stock valued at $3,074,000 after buying an additional 2,819 shares during the last quarter. Millennium Management LLC grew its stake in Avery Dennison by 10.6% during the 2nd quarter. Millennium Management LLC now owns 68,885 shares of the industrial products company’s stock valued at $15,062,000 after purchasing an additional 6,627 shares during the last quarter. EP Wealth Advisors LLC increased its holdings in shares of Avery Dennison by 21.5% in the second quarter. EP Wealth Advisors LLC now owns 1,134 shares of the industrial products company’s stock valued at $248,000 after purchasing an additional 201 shares during the period. Sanctuary Advisors LLC purchased a new position in shares of Avery Dennison in the second quarter worth about $2,710,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Avery Dennison during the second quarter worth about $2,165,000. 94.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. UBS Group dropped their price objective on shares of Avery Dennison from $235.00 to $207.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. BMO Capital Markets lowered their price target on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Bank of America cut their target price on shares of Avery Dennison from $238.00 to $220.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Truist Financial reiterated a “buy” rating and issued a $215.00 price target (down previously from $245.00) on shares of Avery Dennison in a research note on Friday. Finally, Raymond James restated an “outperform” rating and set a $208.00 price objective (down previously from $218.00) on shares of Avery Dennison in a research report on Friday. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $227.15.

Avery Dennison Trading Down 1.3 %

NYSE AVY opened at $183.40 on Tuesday. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 1.10. The company’s 50-day moving average price is $193.21 and its 200-day moving average price is $205.88. The stock has a market cap of $14.74 billion, a PE ratio of 21.03, a PEG ratio of 1.37 and a beta of 0.89. Avery Dennison has a 12 month low of $179.20 and a 12 month high of $233.48.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.38 EPS for the quarter, missing the consensus estimate of $2.39 by ($0.01). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. Equities research analysts forecast that Avery Dennison will post 10.03 earnings per share for the current year.

Avery Dennison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date is Wednesday, March 5th. Avery Dennison’s dividend payout ratio (DPR) is currently 40.37%.

Avery Dennison Company Profile

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.