Mitchell R. Butier Sells 3,000 Shares of Avery Dennison Co. (NYSE:AVY) Stock

Avery Dennison Co. (NYSE:AVY) Chairman Mitchell R. Butier sold 3,000 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $206.80, for a total value of $620,400.00. Following the sale, the chairman now owns 304,114 shares in the company, valued at approximately $62,890,775.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Avery Dennison Stock Performance

Shares of AVY stock opened at $209.09 on Wednesday. The company has a current ratio of 0.90, a quick ratio of 0.60 and a debt-to-equity ratio of 0.89. Avery Dennison Co. has a 12-month low of $165.21 and a 12-month high of $233.48. The business’s 50 day moving average is $218.72 and its two-hundred day moving average is $217.08. The company has a market capitalization of $16.84 billion, a P/E ratio of 30.52, a P/E/G ratio of 1.77 and a beta of 0.88.

Avery Dennison (NYSE:AVY) last announced its earnings results on Tuesday, July 23rd. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.16. The firm had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.18 billion. Avery Dennison had a return on equity of 33.44% and a net margin of 7.34%. The business’s revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.92 EPS. Analysts expect that Avery Dennison Co. will post 9.39 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $3.52 annualized dividend and a dividend yield of 1.68%. Avery Dennison’s dividend payout ratio (DPR) is presently 51.39%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Raymond James reiterated an “outperform” rating and issued a $240.00 price target (up previously from $225.00) on shares of Avery Dennison in a report on Thursday, April 25th. Stifel Nicolaus assumed coverage on shares of Avery Dennison in a report on Tuesday, July 9th. They set a “buy” rating and a $274.60 target price for the company. Truist Financial upped their price target on shares of Avery Dennison from $253.00 to $258.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. BMO Capital Markets reduced their price objective on Avery Dennison from $256.00 to $254.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. Finally, Robert W. Baird raised their target price on Avery Dennison from $230.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, June 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $239.96.

Institutional Investors Weigh In On Avery Dennison

Several institutional investors have recently bought and sold shares of AVY. Innealta Capital LLC acquired a new stake in shares of Avery Dennison in the second quarter worth approximately $28,000. Ashton Thomas Private Wealth LLC purchased a new stake in Avery Dennison during the 2nd quarter valued at about $42,000. VisionPoint Advisory Group LLC acquired a new stake in Avery Dennison in the 4th quarter valued at about $42,000. 1620 Investment Advisors Inc. purchased a new position in Avery Dennison in the 2nd quarter worth approximately $51,000. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of Avery Dennison by 164.4% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 267 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 166 shares during the last quarter. 94.17% of the stock is currently owned by institutional investors and hedge funds.

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.