Avery Dennison Corp. (NYSE:AVY) VP Susan C. Miller sold 2,000 shares of the business’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $77.36, for a total transaction of $154,720.00. Following the completion of the sale, the vice president now directly owns 8,518 shares of the company’s stock, valued at $658,952.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Avery Dennison Corp. (NYSE:AVY) opened at 76.40 on Monday. The stock has a market cap of $6.79 billion, a PE ratio of 22.77 and a beta of 0.92. Avery Dennison Corp. has a 12 month low of $57.06 and a 12 month high of $79.27. The company’s 50 day moving average is $77.28 and its 200 day moving average is $75.20.
Avery Dennison Corp. (NYSE:AVY) last posted its earnings results on Tuesday, July 26th. The company reported $1.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.08. The company earned $1.54 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Avery Dennison Corp. had a net margin of 5.18% and a return on equity of 34.82%. Avery Dennison Corp.’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period last year, the company posted $0.91 earnings per share. On average, analysts anticipate that Avery Dennison Corp. will post $3.94 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 21st. Investors of record on Wednesday, September 7th were paid a dividend of $0.41 per share. The ex-dividend date was Friday, September 2nd. This represents a $1.64 annualized dividend and a yield of 2.15%. Avery Dennison Corp.’s payout ratio is 48.81%.
A number of institutional investors have recently bought and sold shares of AVY. Bank of Montreal Can bought a new position in Avery Dennison Corp. during the second quarter valued at $158,866,000. Goldman Sachs Group Inc. boosted its position in shares of Avery Dennison Corp. by 36.0% in the first quarter. Goldman Sachs Group Inc. now owns 2,004,628 shares of the company’s stock worth $144,554,000 after buying an additional 531,095 shares during the last quarter. BlackRock Investment Management LLC boosted its position in shares of Avery Dennison Corp. by 129.1% in the second quarter. BlackRock Investment Management LLC now owns 745,475 shares of the company’s stock worth $55,724,000 after buying an additional 420,067 shares during the last quarter. WBI Investments Inc. acquired a new position in shares of Avery Dennison Corp. during the second quarter worth approximately $28,451,000. Finally, AMI Asset Management Corp acquired a new position in shares of Avery Dennison Corp. during the second quarter worth approximately $22,029,000. 89.49% of the stock is owned by institutional investors.
AVY has been the subject of several recent research reports. Zacks Investment Research downgraded shares of Avery Dennison Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, September 20th. Bank of America Corp. downgraded shares of Avery Dennison Corp. from a “buy” rating to an “underperform” rating and set a $75.00 price objective for the company. in a research note on Friday, July 1st. Finally, JPMorgan Chase & Co. upped their price objective on shares of Avery Dennison Corp. from $78.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday, July 27th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $78.00.
About Avery Dennison Corp.
Avery Dennison Corporation (Avery Dennison) is engaged in the production of pressure-sensitive materials and a range of tickets, tags, labels and other converted products. The Company’s pressure-sensitive materials are sold to label printers and converters that convert the materials into labels and other products through embossing, printing, stamping and die-cutting.
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