Avery Dennison Co. (NYSE:AVY) SVP Sells $757,874.00 in Stock

Avery Dennison Co. (NYSE:AVY) SVP Nicholas Colisto sold 3,679 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $206.00, for a total transaction of $757,874.00. Following the transaction, the senior vice president now directly owns 7,126 shares of the company’s stock, valued at approximately $1,467,956. This represents a 34.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Avery Dennison Trading Up 0.4 %

AVY opened at $205.89 on Friday. The firm’s 50 day moving average is $209.80 and its 200-day moving average is $216.12. Avery Dennison Co. has a 52-week low of $190.04 and a 52-week high of $233.48. The company has a quick ratio of 0.62, a current ratio of 0.92 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $16.54 billion, a P/E ratio of 24.72, a P/E/G ratio of 1.58 and a beta of 0.89.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $2.32 by $0.01. The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.20 billion. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. The firm’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.10 EPS. Analysts expect that Avery Dennison Co. will post 9.42 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be issued a dividend of $0.88 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $3.52 annualized dividend and a yield of 1.71%. Avery Dennison’s dividend payout ratio is presently 42.26%.

Hedge Funds Weigh In On Avery Dennison

Several institutional investors and hedge funds have recently made changes to their positions in AVY. Janus Henderson Group PLC boosted its stake in Avery Dennison by 215.3% during the 1st quarter. Janus Henderson Group PLC now owns 32,604 shares of the industrial products company’s stock valued at $7,276,000 after acquiring an additional 22,262 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its position in shares of Avery Dennison by 24.7% during the first quarter. B. Riley Wealth Advisors Inc. now owns 1,420 shares of the industrial products company’s stock worth $317,000 after purchasing an additional 281 shares during the last quarter. California State Teachers Retirement System grew its stake in Avery Dennison by 4.4% in the first quarter. California State Teachers Retirement System now owns 156,183 shares of the industrial products company’s stock worth $34,868,000 after purchasing an additional 6,591 shares in the last quarter. Jane Street Group LLC increased its holdings in Avery Dennison by 11.0% in the first quarter. Jane Street Group LLC now owns 47,420 shares of the industrial products company’s stock valued at $10,587,000 after buying an additional 4,697 shares during the last quarter. Finally, Tidal Investments LLC raised its stake in Avery Dennison by 14.3% during the first quarter. Tidal Investments LLC now owns 2,986 shares of the industrial products company’s stock valued at $667,000 after buying an additional 374 shares in the last quarter. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AVY has been the subject of several research analyst reports. StockNews.com lowered shares of Avery Dennison from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Bank of America raised Avery Dennison from an “underperform” rating to a “buy” rating and increased their target price for the stock from $207.00 to $250.00 in a research report on Thursday, October 17th. BMO Capital Markets lowered their price target on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Citigroup cut their price objective on Avery Dennison from $241.00 to $240.00 and set a “neutral” rating on the stock in a report on Wednesday, October 2nd. Finally, Barclays dropped their target price on shares of Avery Dennison from $250.00 to $245.00 and set an “overweight” rating for the company in a research report on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Avery Dennison presently has a consensus rating of “Moderate Buy” and an average price target of $244.96.

About Avery Dennison

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.