Short Interest in Avery Dennison Co. (NYSE:AVY) Increases By 5.7%

Avery Dennison Co. (NYSE:AVY) saw a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 1,300,000 shares, a growth of 5.7% from the March 15th total of 1,230,000 shares. Based on an average daily volume of 431,500 shares, the short-interest ratio is presently 3.0 days. Approximately 1.6% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price objective on Avery Dennison from $185.00 to $218.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. UBS Group boosted their price objective on Avery Dennison from $225.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, January 11th. Truist Financial reissued a “buy” rating and issued a $249.00 price objective on shares of Avery Dennison in a research note on Friday, January 19th. StockNews.com downgraded Avery Dennison from a “buy” rating to a “hold” rating in a research note on Wednesday, March 27th. Finally, Raymond James boosted their price objective on Avery Dennison from $199.00 to $225.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $221.00.

Avery Dennison Stock Down 1.0 %

Shares of NYSE:AVY opened at $208.92 on Thursday. Avery Dennison has a 52 week low of $158.93 and a 52 week high of $225.26. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.69 and a current ratio of 1.04. The company has a market cap of $16.82 billion, a PE ratio of 33.64, a price-to-earnings-growth ratio of 3.25 and a beta of 0.90. The firm has a 50 day simple moving average of $214.71 and a 200 day simple moving average of $198.99.

Avery Dennison (NYSE:AVY) last released its earnings results on Wednesday, January 31st. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.16. Avery Dennison had a return on equity of 30.97% and a net margin of 6.01%. The company had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.10 billion. During the same quarter in the prior year, the company earned $1.65 earnings per share. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. As a group, research analysts expect that Avery Dennison will post 9.28 earnings per share for the current year.

Avery Dennison Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were paid a dividend of $0.81 per share. The ex-dividend date was Tuesday, March 5th. This represents a $3.24 annualized dividend and a yield of 1.55%. Avery Dennison’s dividend payout ratio (DPR) is presently 52.17%.

Insider Activity

In related news, Director Julia A. Stewart sold 5,311 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $202.26, for a total value of $1,074,202.86. Following the completion of the sale, the director now owns 5,018 shares of the company’s stock, valued at $1,014,940.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Ryan D. Yost sold 1,400 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $213.29, for a total value of $298,606.00. Following the completion of the transaction, the insider now directly owns 2,843 shares in the company, valued at $606,383.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Julia A. Stewart sold 5,311 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $202.26, for a total value of $1,074,202.86. Following the sale, the director now directly owns 5,018 shares in the company, valued at approximately $1,014,940.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,879 shares of company stock valued at $4,217,705. Company insiders own 1.10% of the company’s stock.

Institutional Trading of Avery Dennison

Hedge funds have recently made changes to their positions in the stock. Clear Street Markets LLC increased its stake in Avery Dennison by 92.7% in the 1st quarter. Clear Street Markets LLC now owns 158 shares of the industrial products company’s stock valued at $28,000 after buying an additional 76 shares during the period. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Avery Dennison in the third quarter worth $32,000. Eagle Bay Advisors LLC acquired a new stake in Avery Dennison during the second quarter valued at $33,000. IFP Advisors Inc grew its stake in Avery Dennison by 56.3% in the second quarter. IFP Advisors Inc now owns 200 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 72 shares in the last quarter. Finally, Milestone Investment Advisors LLC acquired a new position in Avery Dennison in the 1st quarter worth about $35,000. 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.