Aegis started coverage on shares of Avery Dennison Corp. (NYSE:AVY) in a report issued on Monday. The firm issued a hold rating and a $75.00 price target on the stock.
A number of other brokerages also recently issued reports on AVY. JPMorgan Chase & Co. raised shares of Avery Dennison Corp. from a neutral rating to an overweight rating and set a $78.00 price objective for the company in a research report on Thursday, October 27th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Avery Dennison Corp. from a buy rating to a hold rating in a research report on Tuesday, September 20th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. Avery Dennison Corp. currently has a consensus rating of Hold and a consensus price target of $79.00.
Shares of Avery Dennison Corp. (NYSE:AVY) opened at 71.22 on Monday. Avery Dennison Corp. has a 52-week low of $57.06 and a 52-week high of $79.27. The firm has a market capitalization of $6.34 billion, a P/E ratio of 20.64 and a beta of 1.07. The stock has a 50 day moving average of $72.89 and a 200-day moving average of $75.16.
Avery Dennison Corp. (NYSE:AVY) last issued its quarterly earnings data on Wednesday, October 26th. The company reported $1.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.01. Avery Dennison Corp. had a net margin of 5.27% and a return on equity of 35.98%. The business earned $1.51 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same period in the prior year, the firm posted $0.87 EPS. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. Equities analysts expect that Avery Dennison Corp. will post $3.97 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 21st. Stockholders of record on Wednesday, December 7th will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend is Monday, December 5th. Avery Dennison Corp.’s dividend payout ratio is currently 47.40%.
In other news, VP Susan C. Miller sold 2,000 shares of the stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $77.56, for a total transaction of $155,120.00. Following the completion of the transaction, the vice president now directly owns 8,518 shares of the company’s stock, valued at approximately $660,656.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.70% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. acquired a new position in Avery Dennison Corp. during the third quarter valued at approximately $128,000. ETRADE Capital Management LLC increased its position in Avery Dennison Corp. by 48.1% in the third quarter. ETRADE Capital Management LLC now owns 9,880 shares of the company’s stock valued at $769,000 after buying an additional 3,211 shares during the period. Price T Rowe Associates Inc. MD increased its position in Avery Dennison Corp. by 0.9% in the third quarter. Price T Rowe Associates Inc. MD now owns 158,741 shares of the company’s stock valued at $12,348,000 after buying an additional 1,420 shares during the period. LPL Financial LLC acquired a new position in Avery Dennison Corp. during the third quarter valued at approximately $718,000. Finally, Credit Suisse AG increased its position in Avery Dennison Corp. by 19.6% in the third quarter. Credit Suisse AG now owns 176,672 shares of the company’s stock valued at $13,744,000 after buying an additional 28,943 shares during the period. 87.05% of the stock is owned by institutional investors.
Avery Dennison Corp. Company Profile