Avery Dennison Corp. (AVY) Director Julia A. Stewart Sells 2,000 Shares
Avery Dennison Corp. (NYSE:AVY) Director Julia A. Stewart sold 2,000 shares of the company’s stock in a transaction dated Monday, November 28th. The stock was sold at an average price of $72.65, for a total value of $145,300.00. Following the completion of the transaction, the director now directly owns 7,018 shares of the company’s stock, valued at approximately $509,857.70. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Shares of Avery Dennison Corp. (NYSE:AVY) opened at 72.95 on Wednesday. The stock has a 50 day moving average price of $72.54 and a 200-day moving average price of $75.09. Avery Dennison Corp. has a 52-week low of $57.06 and a 52-week high of $79.27. The stock has a market capitalization of $6.49 billion, a price-to-earnings ratio of 21.14 and a beta of 1.07.
Avery Dennison Corp. (NYSE:AVY) last announced its quarterly earnings data on Wednesday, October 26th. The company reported $1.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.01. Avery Dennison Corp. had a return on equity of 35.98% and a net margin of 5.27%. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same quarter in the previous year, the company earned $0.87 EPS. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, equities research analysts predict that Avery Dennison Corp. will post $3.97 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 21st. Shareholders of record on Wednesday, December 7th will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date is Monday, December 5th. Avery Dennison Corp.’s dividend payout ratio is presently 47.40%.
A number of large investors have recently made changes to their positions in the stock. Bank of Montreal Can acquired a new stake in shares of Avery Dennison Corp. during the second quarter worth $158,866,000. BlackRock Investment Management LLC increased its stake in Avery Dennison Corp. by 129.1% in the second quarter. BlackRock Investment Management LLC now owns 745,475 shares of the company’s stock worth $55,724,000 after buying an additional 420,067 shares during the last quarter. WBI Investments Inc. bought a new stake in Avery Dennison Corp. during the second quarter worth about $28,451,000. Adage Capital Partners GP L.L.C. increased its stake in Avery Dennison Corp. by 63.8% in the third quarter. Adage Capital Partners GP L.L.C. now owns 810,977 shares of the company’s stock worth $63,086,000 after buying an additional 315,998 shares during the last quarter. Finally, AMI Asset Management Corp bought a new stake in Avery Dennison Corp. during the second quarter worth about $22,029,000. 87.31% of the stock is currently owned by institutional investors.
A number of equities analysts have commented on the company. Aegis assumed coverage on Avery Dennison Corp. in a report on Monday, November 21st. They set a “hold” rating and a $75.00 target price for the company. JPMorgan Chase & Co. raised Avery Dennison Corp. from a “neutral” rating to an “overweight” rating and set a $78.00 target price for the company in a report on Thursday, October 27th. They noted that the move was a valuation call. Finally, Zacks Investment Research raised Avery Dennison Corp. from a “hold” rating to a “buy” rating and set a $87.00 target price for the company in a report on Wednesday, September 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. Avery Dennison Corp. currently has an average rating of “Hold” and a consensus price target of $79.00.
Avery Dennison Corp. Company Profile
Avery Dennison Corporation (Avery Dennison) is engaged in the production of pressure-sensitive materials and a range of tickets, tags, labels and other converted products. The Company’s pressure-sensitive materials are sold to label printers and converters that convert the materials into labels and other products through embossing, printing, stamping and die-cutting.
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