Why Is Avery Dennison (AVY) Up 4.6% Since Last Earnings Report?
Avery Dennison (AVY) reported earnings 30 days ago. What's next for the stock?
Avery Dennison Co. (NYSE:AVY) Shares Sold by Vanguard Personalized Indexing Management LLC
Vanguard Personalized Indexing Management LLC decreased its stake in Avery Dennison Co. (NYSE:AVY – Free Report) by 5.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,293 shares of the industrial products company’s stock after selling 331 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Avery Dennison were worth $1,070,000 as of its most recent SEC filing. A number of other institutional investors have also recently added to or reduced their stakes in AVY. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Avery Dennison during the 3rd quarter worth approximately $32,000. Milestone Investment Advisors LLC purchased a new stake in Avery Dennison during the third quarter worth $36,000. VisionPoint Advisory Group LLC acquired a new stake in Avery Dennison in the fourth quarter valued at $42,000. Anchor Investment Management LLC purchased a new position in shares of Avery Dennison in the fourth quarter valued at $42,000. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its stake 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 buying an additional 166 shares during the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock. Wall Street Analysts Forecast Growth A number of equities research analysts recently commented on AVY shares. JPMorgan Chase & Co. increased 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. StockNews.com upgraded shares of Avery Dennison from a “hold” rating to a “buy” rating in a research report on Monday, April 22nd. Argus lifted their price objective on Avery Dennison from $240.00 to $245.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Citigroup upped their target price on Avery Dennison from $223.00 to $234.00 and gave the company a “neutral” rating in a research note on Thursday, April 4th. Finally, Truist Financial raised their price target on shares of Avery Dennison from $248.00 to $253.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Avery Dennison currently has an average rating of “Moderate Buy” and a consensus price target of $228.50. Get Our Latest Analysis on AVY Avery Dennison Trading Up 0.8 % Shares of AVY stock opened at $226.30 on Monday. The firm’s 50-day simple moving average is $218.34 and its 200-day simple moving average is $205.57. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.87 and a quick ratio of 0.58. Avery Dennison Co. has a 1-year low of $158.93 and a 1-year high of $228.15. The firm has a market cap of $18.23 billion, a P/E ratio of 33.04, a PEG ratio of 3.47 and a beta of 0.91. Avery Dennison (NYSE:AVY – Get Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The industrial products company reported $2.29 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $2.15 billion. As a group, equities analysts forecast that Avery Dennison Co. will post 9.31 EPS for the current year. Avery Dennison Increases Dividend The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Wednesday, June 5th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date is Wednesday, June 5th. This is an increase from Avery Dennison’s previous quarterly dividend of $0.81. Avery Dennison’s payout ratio is 47.30%. Insiders Place Their Bets In other news, CFO Gregory Lovins sold 2,894 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $227.20, for a total transaction of $657,516.80. Following the completion of the sale, the chief financial officer now owns 67,457 shares in the company, valued at approximately $15,326,230.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Gregory Lovins sold 2,894 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $227.20, for a total value of $657,516.80. Following the transaction, the chief financial officer now owns 67,457 shares of the company’s stock, valued at approximately $15,326,230.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Ryan D. Yost sold 1,400 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $213.29, for a total transaction of $298,606.00. Following the sale, the insider now directly owns 2,843 shares of the company’s stock, valued at $606,383.47. The disclosure for this sale can be found here. Insiders sold 17,462 shares of company stock worth $3,801,019 over the last three months. 1.10% of the stock is owned by insiders. Avery Dennison Profile (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.
