Insider Selling: Avery Dennison Co. (NYSE:AVY) SVP Sells 2,206 Shares of Stock

Avery Dennison Co. (NYSE:AVYGet Free Report) SVP Ignacio J. Walker sold 2,206 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $226.70, for a total value of $500,100.20. Following the completion of the transaction, the senior vice president now owns 7,082 shares of the company’s stock, valued at $1,605,489.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Avery Dennison Stock Down 0.0 %

Shares of NYSE AVY traded down $0.05 on Tuesday, hitting $224.69. The company had a trading volume of 5,186 shares, compared to its average volume of 438,704. The firm has a market capitalization of $18.10 billion, a P/E ratio of 32.81, a PEG ratio of 2.08 and a beta of 0.91. The company has a quick ratio of 0.58, a current ratio of 0.87 and a debt-to-equity ratio of 0.94. Avery Dennison Co. has a 12-month low of $162.35 and a 12-month high of $229.98. The business has a 50 day moving average of $221.01 and a two-hundred day moving average of $210.35.

Avery Dennison (NYSE:AVYGet Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The industrial products company reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.14. Avery Dennison had a net margin of 6.56% and a return on equity of 32.59%. The company had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.15 billion. As a group, equities research analysts forecast that Avery Dennison Co. will post 9.32 earnings per share for the current fiscal year.

Avery Dennison Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Wednesday, June 5th will be given a $0.88 dividend. This is a boost from Avery Dennison’s previous quarterly dividend of $0.81. This represents a $3.52 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend is Wednesday, June 5th. Avery Dennison’s dividend payout ratio is presently 51.39%.

Institutional Trading of Avery Dennison

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Boston Partners increased its stake in shares of Avery Dennison by 3.6% in the first quarter. Boston Partners now owns 1,019,802 shares of the industrial products company’s stock worth $227,660,000 after buying an additional 35,538 shares during the last quarter. Cetera Advisors LLC lifted its stake in Avery Dennison by 204.2% during the first quarter. Cetera Advisors LLC now owns 4,225 shares of the industrial products company’s stock worth $943,000 after purchasing an additional 2,836 shares during the last quarter. Cetera Investment Advisers boosted its holdings in Avery Dennison by 195.2% in the first quarter. Cetera Investment Advisers now owns 17,863 shares of the industrial products company’s stock worth $3,988,000 after purchasing an additional 11,811 shares during the period. Swedbank AB bought a new stake in Avery Dennison during the first quarter valued at $102,117,000. Finally, Plato Investment Management Ltd raised its holdings in shares of Avery Dennison by 18,233.3% during the first quarter. Plato Investment Management Ltd now owns 1,650 shares of the industrial products company’s stock worth $368,000 after purchasing an additional 1,641 shares during the period. 94.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AVY. JPMorgan Chase & Co. upped their price objective on shares of Avery Dennison from $218.00 to $220.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Argus lifted their price target on shares of Avery Dennison from $240.00 to $245.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Truist Financial upped their price objective on Avery Dennison from $248.00 to $253.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Robert W. Baird boosted their price target on Avery Dennison from $230.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Citigroup raised their price objective on Avery Dennison from $223.00 to $234.00 and gave the stock a “neutral” rating in a report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $230.50.

View Our Latest Report on AVY

Avery Dennison Company Profile

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Avery Dennison (NYSE:AVY)

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