Key Points
- Director Andres Alberto Lopez sold 4,000 shares at an average price of $193.80, totaling $775,200. The sale reduced his direct stake by 77.72%, to 1,147 shares.
- Avery Dennison reported quarterly EPS of $2.42, beating analysts’ $2.32 estimate, while revenue of $2.33 billion exceeded expectations and rose 5.2% year over year.
- The company declared a quarterly dividend of $1.00 per share, equivalent to $4.00 annually and a 2.1% yield. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $201.10.
Avery Dennison Corporation (NYSE:AVY - Get Free Report) Director Andres Alberto Lopez sold 4,000 shares of the company's stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $193.80, for a total transaction of $775,200.00. Following the sale, the director directly owned 1,147 shares of the company's stock, valued at approximately $222,288.60. This trade represents a 77.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Avery Dennison Stock Down 1.5%
Shares of NYSE:AVY opened at $186.81 on Friday. The company has a market cap of $14.16 billion, a price-to-earnings ratio of 20.22, a PEG ratio of 2.20 and a beta of 0.77. The firm has a fifty day moving average price of $174.92 and a two-hundred day moving average price of $172.32. Avery Dennison Corporation has a one year low of $152.42 and a one year high of $199.54. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.16 and a quick ratio of 0.80.
Avery Dennison (NYSE:AVY - Get Free Report) last issued its quarterly earnings results on Thursday, October 29th. The industrial products company reported $2.42 EPS for the quarter, topping analysts' consensus estimates of $2.32 by $0.10. The business had revenue of $2.33 billion during the quarter, compared to analysts' expectations of $2.26 billion. Avery Dennison had a return on equity of 33.88% and a net margin of 7.56%. The business's quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.37 earnings per share. Analysts anticipate that Avery Dennison Corporation will post 10.17 EPS for the current fiscal year.
Avery Dennison Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 16th. Stockholders of record on Wednesday, December 2nd will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Wednesday, December 2nd. Avery Dennison's dividend payout ratio is presently 43.29%.
Institutional Investors Weigh In On Avery Dennison
Hedge funds have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in shares of Avery Dennison during the second quarter valued at $1,052,464,000. Ninety One UK Ltd acquired a new stake in Avery Dennison in the 3rd quarter valued at $341,344,000. Robeco Institutional Asset Management B.V. lifted its position in Avery Dennison by 2,376.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 984,976 shares of the industrial products company's stock worth $168,106,000 after acquiring an additional 945,195 shares during the last quarter. Bank of America Corp DE bought a new stake in shares of Avery Dennison during the second quarter worth $142,169,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Avery Dennison during the 2nd quarter worth approximately $118,728,000. Institutional investors and hedge funds own 94.17% of the company's stock.
Analysts Set New Price Targets
AVY has been the topic of several research analyst reports. UBS Group upped their price objective on shares of Avery Dennison from $225.00 to $230.00 and gave the stock a "buy" rating in a research note on Friday, October 30th. Jefferies Financial Group reiterated a "hold" rating and set a $181.00 price target on shares of Avery Dennison in a research note on Monday, September 28th. Truist Financial dropped their price objective on Avery Dennison from $209.00 to $208.00 and set a "buy" rating on the stock in a report on Monday, October 12th. Weiss Ratings raised shares of Avery Dennison from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday. Finally, JPMorgan Chase & Co. upped their target price on shares of Avery Dennison from $190.00 to $200.00 and gave the company an "overweight" rating in a research note on Friday, October 30th. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $201.10.
View Our Latest Stock Report on Avery Dennison
Avery Dennison Company Profile
(
Get Free Report)
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.
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