Avery Dennison Corp (NYSE:AVY) VP Susan C. Miller sold 6,080 shares of the business’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $118.98, for a total transaction of $723,398.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of AVY traded down $2.49 on Friday, reaching $112.64. The company’s stock had a trading volume of 10,467 shares, compared to its average volume of 681,890. The company has a current ratio of 1.22, a quick ratio of 0.86 and a debt-to-equity ratio of 1.65. Avery Dennison Corp has a twelve month low of $76.96 and a twelve month high of $141.09. The stock has a market capitalization of $9.39 billion, a PE ratio of 18.61, a PEG ratio of 2.88 and a beta of 1.18. The firm has a fifty day moving average of $115.99 and a 200-day moving average of $116.20.
Avery Dennison (NYSE:AVY) last posted its earnings results on Monday, July 27th. The industrial products company reported $1.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.14. Avery Dennison had a net margin of 7.68% and a return on equity of 45.88%. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the prior year, the business posted $1.72 EPS. The firm’s revenue was down 14.9% compared to the same quarter last year. As a group, equities analysts anticipate that Avery Dennison Corp will post 6.02 EPS for the current fiscal year.
AVY has been the topic of several analyst reports. UBS Group boosted their price objective on shares of Avery Dennison from $126.00 to $128.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. KeyCorp reaffirmed a “hold” rating on shares of Avery Dennison in a research report on Monday. Zacks Investment Research cut shares of Avery Dennison from a “hold” rating to a “sell” rating and set a $118.00 price target on the stock. in a research report on Wednesday, May 27th. Morgan Stanley upped their price target on shares of Avery Dennison from $105.00 to $112.00 and gave the company an “equal weight” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. raised shares of Avery Dennison from an “underweight” rating to a “neutral” rating and upped their price target for the company from $110.00 to $115.00 in a research report on Tuesday. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $126.17.
A number of large investors have recently bought and sold shares of AVY. Norges Bank purchased a new stake in Avery Dennison in the 4th quarter valued at about $106,990,000. JPMorgan Chase & Co. increased its stake in Avery Dennison by 28.6% in the 1st quarter. JPMorgan Chase & Co. now owns 2,633,455 shares of the industrial products company’s stock valued at $268,271,000 after buying an additional 586,042 shares during the last quarter. Ceredex Value Advisors LLC purchased a new stake in Avery Dennison in the 1st quarter valued at about $33,292,000. Retirement Systems of Alabama increased its stake in Avery Dennison by 683.1% in the 1st quarter. Retirement Systems of Alabama now owns 287,408 shares of the industrial products company’s stock valued at $29,278,000 after buying an additional 250,709 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Avery Dennison by 14.2% in the 1st quarter. Bank of New York Mellon Corp now owns 1,241,472 shares of the industrial products company’s stock valued at $126,469,000 after buying an additional 154,150 shares during the last quarter. Hedge funds and other institutional investors own 88.55% of the company’s stock.
About Avery Dennison
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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