Avery Dennison Corporation (NYSE:AVY) Sees Large Decrease in Short Interest

Avery Dennison Corporation (NYSE:AVY) was the target of a large decrease in short interest during the month of January. As of January 15th, there was short interest totaling 1,932,378 shares, a decrease of 15.5% from the December 31st total of 2,286,064 shares. Approximately 2.5% of the company’s stock are short sold. Based on an average daily trading volume, of 682,220 shares, the days-to-cover ratio is presently 2.8 days. Based on an average daily trading volume, of 682,220 shares, the days-to-cover ratio is presently 2.8 days. Approximately 2.5% of the company’s stock are short sold.

Analyst Ratings Changes

Several analysts have recently issued reports on AVY shares. Truist Financial upped their target price on shares of Avery Dennison from $213.00 to $234.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th. Citigroup boosted their price target on shares of Avery Dennison from $180.00 to $188.00 and gave the stock a “neutral” rating in a report on Tuesday, January 6th. JPMorgan Chase & Co. upgraded shares of Avery Dennison from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $182.00 to $195.00 in a research note on Thursday, October 23rd. Argus set a $200.00 target price on Avery Dennison in a research note on Tuesday, October 28th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $210.00 target price on shares of Avery Dennison in a report on Thursday, October 23rd. Nine analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $204.36.

Institutional Investors Weigh In On Avery Dennison

Large investors have recently added to or reduced their stakes in the company. NewEdge Wealth LLC lifted its holdings in Avery Dennison by 9.6% during the fourth quarter. NewEdge Wealth LLC now owns 2,935 shares of the industrial products company’s stock valued at $534,000 after purchasing an additional 258 shares during the last quarter. Crossmark Global Holdings Inc. increased its stake in shares of Avery Dennison by 53.7% in the fourth quarter. Crossmark Global Holdings Inc. now owns 5,198 shares of the industrial products company’s stock worth $945,000 after purchasing an additional 1,815 shares in the last quarter. Ballentine Partners LLC bought a new stake in shares of Avery Dennison in the fourth quarter valued at approximately $264,000. Strengthening Families & Communities LLC lifted its stake in shares of Avery Dennison by 5.3% during the 4th quarter. Strengthening Families & Communities LLC now owns 14,125 shares of the industrial products company’s stock valued at $2,569,000 after buying an additional 707 shares in the last quarter. Finally, Diversify Wealth Management LLC boosted its holdings in Avery Dennison by 5.8% in the 4th quarter. Diversify Wealth Management LLC now owns 4,812 shares of the industrial products company’s stock worth $903,000 after buying an additional 263 shares during the period. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Avery Dennison Stock Performance

Shares of AVY stock traded down $0.38 during trading hours on Tuesday, hitting $186.71. 1,018,109 shares of the company were exchanged, compared to its average volume of 544,802. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 1.45. The stock has a market capitalization of $14.43 billion, a price-to-earnings ratio of 21.24, a P/E/G ratio of 3.14 and a beta of 1.00. The firm has a fifty day simple moving average of $182.20 and a 200 day simple moving average of $174.10. Avery Dennison has a 52-week low of $156.23 and a 52-week high of $190.45.

Avery Dennison Company Profile

Avery Dennison (NYSE:AVY) is a global materials science and manufacturing company specializing in labeling and packaging solutions. The company develops pressure-sensitive materials, tags and labels, and adhesive technologies that help brands and businesses enhance product identification, branding and supply-chain performance. Avery Dennison’s offerings range from industrial and retail labeling to high-performance tapes, films and graphics materials used across multiple end markets.

The company operates through several key segments, including Label and Graphic Materials, which supplies pressure-sensitive materials for consumer goods; Retail Branding and Information Solutions, offering apparel tags, RFID inlays and digital product identification; Pressure-Sensitive Materials, providing specialty tapes and adhesives; and RF Technologies, focused on advanced RFID and IoT labeling solutions.