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

Avery Dennison Co. (NYSE:AVY) was the target of a significant growth in short interest in January. As of January 15th, there was short interest totalling 1,980,000 shares, a growth of 7.0% from the December 31st total of 1,850,000 shares. Currently, 2.5% of the shares of the stock are short sold. Based on an average trading volume of 542,600 shares, the days-to-cover ratio is currently 3.6 days.

Insider Activity

In related news, SVP Nicholas Colisto sold 3,679 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $206.00, for a total transaction of $757,874.00. Following the transaction, the senior vice president now owns 7,126 shares of the company’s stock, valued at approximately $1,467,956. This represents a 34.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.10% of the company’s stock.

Institutional Trading of Avery Dennison

A number of hedge funds and other institutional investors have recently modified their holdings of AVY. Geode Capital Management LLC increased its holdings in Avery Dennison by 8.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,088,516 shares of the industrial products company’s stock worth $459,621,000 after purchasing an additional 157,754 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Avery Dennison by 6.8% during the third quarter. Victory Capital Management Inc. now owns 1,416,798 shares of the industrial products company’s stock worth $312,772,000 after buying an additional 90,250 shares in the last quarter. World Investment Advisors LLC increased its stake in shares of Avery Dennison by 2,629.0% in the third quarter. World Investment Advisors LLC now owns 91,857 shares of the industrial products company’s stock worth $20,278,000 after buying an additional 88,491 shares during the last quarter. Ferguson Wellman Capital Management Inc. raised its holdings in Avery Dennison by 135.6% in the fourth quarter. Ferguson Wellman Capital Management Inc. now owns 146,830 shares of the industrial products company’s stock valued at $27,476,000 after acquiring an additional 84,501 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Avery Dennison by 12.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 420,232 shares of the industrial products company’s stock valued at $92,771,000 after acquiring an additional 46,390 shares during the last quarter. 94.17% of the stock is owned by hedge funds and other institutional investors.

Avery Dennison Stock Down 0.3 %

NYSE:AVY traded down $0.53 during mid-day trading on Tuesday, hitting $182.81. The company had a trading volume of 130,034 shares, compared to its average volume of 761,162. Avery Dennison has a 1 year low of $179.20 and a 1 year high of $233.48. The business has a fifty day simple moving average of $193.21 and a 200-day simple moving average of $205.88. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 1.10. The firm has a market capitalization of $14.69 billion, a price-to-earnings ratio of 20.96, a PEG ratio of 1.37 and a beta of 0.89.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.38 earnings per share (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%. Equities analysts forecast that Avery Dennison will post 10.03 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be given a $0.88 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $3.52 dividend on an annualized basis and a yield of 1.93%. Avery Dennison’s payout ratio is currently 40.37%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AVY. Bank of America dropped their target price on Avery Dennison from $238.00 to $220.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Truist Financial reiterated a “buy” rating and set a $215.00 price objective (down from $245.00) on shares of Avery Dennison in a report on Friday. Raymond James reaffirmed an “outperform” rating and set a $208.00 price target (down previously from $218.00) on shares of Avery Dennison in a research report on Friday. JPMorgan Chase & Co. upgraded shares of Avery Dennison from a “neutral” rating to an “overweight” rating and decreased their price target for the company from $210.00 to $205.00 in a report on Friday. Finally, BMO Capital Markets lowered their price objective on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $227.15.

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.