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

Avery Dennison Co. (NYSE:AVY) was the target of a significant decrease in short interest in February. As of February 15th, there was short interest totalling 1,540,000 shares, a decrease of 19.8% from the January 31st total of 1,920,000 shares. Based on an average daily volume of 659,500 shares, the short-interest ratio is currently 2.3 days. Currently, 2.0% of the company’s stock are sold short.

Avery Dennison Stock Performance

NYSE:AVY traded down $4.87 during mid-day trading on Tuesday, hitting $181.05. The company’s stock had a trading volume of 980,386 shares, compared to its average volume of 724,644. Avery Dennison has a 1 year low of $178.72 and a 1 year high of $233.48. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73. The stock has a market cap of $14.30 billion, a price-to-earnings ratio of 20.76, a PEG ratio of 2.07 and a beta of 0.89. The business’s fifty day moving average is $186.47 and its two-hundred day moving average is $201.36.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.38 EPS for the quarter, missing the consensus estimate of $2.39 by ($0.01). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. Analysts anticipate that Avery Dennison will post 9.96 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend is Wednesday, March 5th. Avery Dennison’s payout ratio is currently 40.37%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AVY. Barclays reduced their price target on Avery Dennison from $245.00 to $225.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Robert W. Baird set a $220.00 target price on Avery Dennison in a research report on Friday, January 31st. UBS Group cut their target price on Avery Dennison from $235.00 to $207.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. BMO Capital Markets set a $226.00 target price on Avery Dennison in a research report on Monday, February 3rd. Finally, Raymond James reissued an “outperform” rating and issued a $208.00 target price (down from $218.00) on shares of Avery Dennison in a research report on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Avery Dennison currently has an average rating of “Moderate Buy” and an average price target of $222.51.

Institutional Investors Weigh In On Avery Dennison

Hedge funds have recently modified their holdings of the company. Larson Financial Group LLC boosted its stake in shares of Avery Dennison by 100.0% during the 3rd quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 71 shares in the last quarter. Kennebec Savings Bank purchased a new stake in shares of Avery Dennison during the 3rd quarter worth about $36,000. Regents Gate Capital LLP purchased a new stake in shares of Avery Dennison during the 4th quarter worth about $37,000. Peterson Financial Group Inc. purchased a new stake in shares of Avery Dennison during the 3rd quarter worth about $39,000. Finally, Spire Wealth Management boosted its stake in shares of Avery Dennison by 76.0% during the 4th quarter. Spire Wealth Management now owns 301 shares of the industrial products company’s stock worth $56,000 after acquiring an additional 130 shares in the last quarter. 94.17% of the stock is owned by hedge funds and other institutional investors.

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.