The stock of Avery Dennison Corporation (NYSE:AVY) last traded at $171.50, up 0.45% from the previous session.
Data from the available sources indicates that Avery Dennison Corporation (NYSE:AVY) is covered by 13 analysts. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $233.00 and a low of $180.00, we find $205.00. Given the previous closing price of $170.74, this indicates a potential upside of 20.07 percent. AVY stock price is now -7.06% away from the 50-day moving average and -4.34% away from the 200-day moving average. The market capitalization of the company currently stands at $14.21B.
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In total, 3 analysts have assigned it a hold rating, and 7 have given it a buy rating. Brokers who have rated the stock have averaged $205.91 as their price target over the next twelve months.
With the price target enhanced from $200 to $205, BofA Securities Upgraded its rating from Neutral to Buy for Avery Dennison Corporation (NYSE: AVY). On October 13, 2022, BofA Securities Downgraded its previous ‘Buy’ rating to ‘Neutral’ on the stock reducing its target price from $206 to quote $172, while ‘JP Morgan’ rates the stock as ‘Overweight’.
In other news, Lopez Andres Alberto, Director sold 5,800 shares of the company’s stock on Mar 03. The stock was sold for $1,055,600 at an average price of $182.00. Upon completion of the transaction, the Director now directly owns 1,315 shares in the company, valued at $0.23 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 02, SVP & CIO Colisto Nicholas sold 3,842 shares of the business’s stock. A total of $693,212 was realized by selling the stock at an average price of $180.43. This leaves the insider owning 7,978 shares of the company worth $1.37 million. Insiders disposed of 4,204 shares of company stock worth roughly $0.72 million over the past 1 year. A total of 0.70% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in AVY stock. A new stake in Avery Dennison Corporation shares was purchased by BAIN CAPITAL PUBLIC EQUITY MANAGEMENT II, LLC during the first quarter worth $94,835,000. MARSHALL WACE, LLP invested $31,874,000 in shares of AVY during the first quarter. In the first quarter, WOODLINE PARTNERS LP acquired a new stake in Avery Dennison Corporation valued at approximately $11,368,000. BAIN CAPITAL PUBLIC EQUITY, LP acquired a new stake in AVY for approximately $7,157,000. TWO SIGMA INVESTMENTS, LP purchased a new stake in AVY valued at around $5,920,000 in the second quarter. In total, there are 972 active investors with 92.80% ownership of the company’s stock.
With an opening price of $169.48 on Monday morning, Avery Dennison Corporation (NYSE: AVY) set off the trading day. During the past 12 months, Avery Dennison Corporation has had a low of $151.62 and a high of $204.37. As of last week, the company has a debt-to-equity ratio of 1.53, a current ratio of 1.00, and a quick ratio of 0.60. The fifty day moving average price for AVY is $184.52 and a two-hundred day moving average price translates $179.27 for the stock.
The latest earnings results from Avery Dennison Corporation (NYSE: AVY) was released for Dec, 2022. According to the Packaging & Containers Company, earnings per share came in at $1.65, missing analysts’ expectations of $2.02 by -0.37. This compares to $2.18 EPS in the same period last year. The net profit margin was 8.40% and return on equity was 38.30% for AVY. The company reported revenue of $2.03 billion for the quarter, compared to $2.18 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -7.21 percent. For the current quarter, analysts expect AVY to generate $2.19B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 03/15/2023. Investors who held shares on 03/01/2023 were paid a $0.75 dividend. On an annualized basis, this represents a $3.00 dividend and a 1.75% percent yield. There was an ex-dividend date of 02/28/2023 for this dividend. In terms of dividend payout ratio, AVY is presently at 31.60%.
Avery Dennison Corporation(AVY) Company Profile
Avery Dennison Corporation manufactures and markets pressure-sensitive materials and products in the United States, Europe, Asia, Latin America, and internationally. The company’s Label and Graphic Materials segment offers pressure-sensitive label and packaging materials under the Fasson, JAC, and Avery Dennison brands; graphics products under the Avery Dennison and Mactac brands; and reflective products under the Avery Dennison brand. This segment provides its products to the home and personal care, beer and beverage, durables, pharmaceutical, wine and spirits, and food market segments; architectural, commercial sign, digital printing, and other related market segments; construction, automotive, and fleet transportation market segments; traffic and safety applications; and sign shops, commercial printers, and designers. The company’s Retail Branding and Information Solutions segment offers brand embellishments, graphic tickets, tags and labels, and sustainable packaging solutions, as well as creative services; radio-frequency identification, visibility and loss prevention, brand protection and security, shelf-edge, and price ticketing and marking solutions; and care, content, and country of origin compliance solutions. It serves retailers, brand owners, apparel manufacturers, distributors, and industrial customers. The company’s Industrial and Healthcare Materials segment provides tapes and other pressure-sensitive adhesive-based materials and converted products, mechanical fasteners, and performance polymers under the Fasson and Avery Dennison brands; and tapes under the Yongle brand for wire harnessing and cable wrapping. It serves automotive, electronics, building and construction, electrical, general industrial, personal care, and medical markets. The company was formerly known as Avery International Corporation and changed its name to Avery Dennison Corporation in 1990. Avery Dennison Corporation was founded in 1935 and is headquartered in Mentor, Ohio.
