Avery Dennison Co. (NYSE:AVY) Short Interest Update

Avery Dennison Co. (NYSE:AVY) was the target of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 1,980,000 shares, a growth of 7.0% from the December 15th total of 1,850,000 shares. Approximately 2.5% of the company’s stock are sold short. Based on an average daily trading volume, of 542,600 shares, the short-interest ratio is presently 3.6 days.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Truist Financial lowered their target price on shares of Avery Dennison from $258.00 to $245.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. BMO Capital Markets cut their target price on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. UBS Group lowered their price target on Avery Dennison from $235.00 to $207.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. JPMorgan Chase & Co. lowered Avery Dennison from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $230.00 to $210.00 in a report on Thursday, October 24th. Finally, Bank of America lowered their target price on Avery Dennison from $238.00 to $220.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Avery Dennison has a consensus rating of “Moderate Buy” and a consensus target price of $235.05.

Insiders Place Their Bets

In other Avery Dennison news, SVP Nicholas Colisto sold 3,679 shares of Avery Dennison stock in a transaction on Monday, November 25th. The stock was sold at an average price of $206.00, for a total value of $757,874.00. Following the completion of the sale, the senior vice president now owns 7,126 shares of the company’s stock, valued at approximately $1,467,956. This trade represents a 34.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Avery Dennison

Several institutional investors and hedge funds have recently modified their holdings of the stock. Federated Hermes Inc. boosted its stake in Avery Dennison by 56.7% during the second quarter. Federated Hermes Inc. now owns 1,470 shares of the industrial products company’s stock valued at $321,000 after buying an additional 532 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Avery Dennison by 4.3% in the second quarter. Dimensional Fund Advisors LP now owns 787,716 shares of the industrial products company’s stock valued at $172,254,000 after purchasing an additional 32,467 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its position in Avery Dennison by 15.5% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 6,872 shares of the industrial products company’s stock worth $1,503,000 after purchasing an additional 921 shares during the last quarter. Hsbc Holdings PLC raised its stake in Avery Dennison by 9.5% during the second quarter. Hsbc Holdings PLC now owns 145,328 shares of the industrial products company’s stock valued at $31,877,000 after purchasing an additional 12,625 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in Avery Dennison during the second quarter valued at $426,000. Institutional investors own 94.17% of the company’s stock.

Avery Dennison Stock Performance

NYSE AVY traded down $0.17 on Friday, reaching $191.07. 623,810 shares of the stock were exchanged, compared to its average volume of 501,975. The firm has a market capitalization of $15.35 billion, a PE ratio of 22.94, a PEG ratio of 1.29 and a beta of 0.89. Avery Dennison has a one year low of $181.99 and a one year high of $233.48. The company’s 50-day simple moving average is $195.08 and its two-hundred day simple moving average is $207.79. The company has a current ratio of 0.92, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85.

Avery Dennison (NYSE:AVY) last released its earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $2.32 by $0.01. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. The company had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.20 billion. During the same quarter in the previous year, the company earned $2.10 EPS. Avery Dennison’s revenue for the quarter was up 4.1% on a year-over-year basis. Analysts expect that Avery Dennison will post 9.41 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th were paid a $0.88 dividend. The ex-dividend date was Wednesday, December 4th. This represents a $3.52 annualized dividend and a yield of 1.84%. Avery Dennison’s payout ratio is 42.26%.

Avery Dennison Company Profile

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.