Lori J. Bondar Sells 5,000 Shares of Avery Dennison Corp (NYSE:AVY) Stock

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Avery Dennison Corp (NYSE:AVY) VP Lori J. Bondar sold 5,000 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $111.50, for a total value of $557,500.00. Following the transaction, the vice president now directly owns 22,428 shares in the company, valued at approximately $2,500,722. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

NYSE:AVY traded down $0.66 during mid-day trading on Friday, reaching $110.39. The stock had a trading volume of 444,774 shares, compared to its average volume of 634,632. The company has a quick ratio of 0.80, a current ratio of 1.14 and a debt-to-equity ratio of 1.77. The company has a market cap of $9.44 billion, a P/E ratio of 18.22, a PEG ratio of 2.07 and a beta of 1.33. Avery Dennison Corp has a twelve month low of $82.89 and a twelve month high of $117.00.

Avery Dennison (NYSE:AVY) last issued its earnings results on Wednesday, April 24th. The industrial products company reported $1.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.46 by $0.02. Avery Dennison had a net margin of 2.74% and a return on equity of 53.28%. The company had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same period last year, the company posted $1.44 earnings per share. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. Analysts expect that Avery Dennison Corp will post 6.55 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Wednesday, June 5th will be issued a $0.58 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This is a boost from Avery Dennison’s previous quarterly dividend of $0.52. This represents a $2.32 dividend on an annualized basis and a yield of 2.10%. Avery Dennison’s dividend payout ratio (DPR) is 38.28%.

Institutional investors have recently modified their holdings of the business. Rockefeller Capital Management L.P. increased its stake in shares of Avery Dennison by 73.8% during the 1st quarter. Rockefeller Capital Management L.P. now owns 226 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 96 shares in the last quarter. Wealthcare Advisory Partners LLC increased its stake in shares of Avery Dennison by 90.7% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 286 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 136 shares in the last quarter. Icon Wealth Partners LLC purchased a new position in shares of Avery Dennison during the 1st quarter worth approximately $36,000. CSat Investment Advisory L.P. increased its stake in shares of Avery Dennison by 60.8% during the 4th quarter. CSat Investment Advisory L.P. now owns 341 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 129 shares in the last quarter. Finally, Penserra Capital Management LLC purchased a new position in shares of Avery Dennison during the 4th quarter worth approximately $40,000. 88.20% of the stock is owned by institutional investors.

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. downgraded shares of Avery Dennison from an “overweight” rating to a “neutral” rating and set a $105.00 target price for the company. in a research note on Friday, March 15th. They noted that the move was a valuation call. KeyCorp reiterated a “sector weight” rating and set a $110.00 target price on shares of Avery Dennison in a research note on Sunday, April 7th. Loop Capital downgraded shares of Avery Dennison from a “buy” rating to a “hold” rating in a research note on Wednesday, March 20th. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded shares of Avery Dennison from a “buy” rating to a “hold” rating in a research note on Monday, April 8th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $118.00.

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Avery Dennison Company Profile

Avery Dennison Corporation produces and sells pressure-sensitive materials worldwide. The company's Label and Graphic Materials segment offers pressure-sensitive label and packaging materials; and graphics and reflective products under the Fasson, JAC, Avery Dennison, and Mactac brands, as well as durable cast and reflective films.

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