Avery Dennison Co. (NYSE:AVY) Chairman Sells $2,358,412.65 in Stock

Avery Dennison Co. (NYSE:AVY - Get Free Report) Chairman Mitchell R. Butier sold 12,969 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $181.85, for a total value of $2,358,412.65. Following the transaction, the chairman now directly owns 303,331 shares in the company, valued at $55,160,742.35. The trade was a 4.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Avery Dennison Stock Performance

Shares of NYSE:AVY traded up $1.54 on Friday, hitting $183.94. 1,195,522 shares of the company were exchanged, compared to its average volume of 753,032. Avery Dennison Co. has a 1-year low of $178.72 and a 1-year high of $233.48. The stock's 50 day moving average price is $186.11 and its 200 day moving average price is $200.82. 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 $14.53 billion, a P/E ratio of 21.09, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85.

Avery Dennison (NYSE:AVY - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.38 EPS for the quarter, missing analysts' consensus estimates of $2.39 by ($0.01). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. Sell-side analysts predict that Avery Dennison Co. will post 9.96 EPS for the current year.

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Avery Dennison Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be issued a dividend of $0.88 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $3.52 annualized dividend and a dividend yield of 1.91%. Avery Dennison's dividend payout ratio (DPR) is presently 40.37%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on AVY shares. Truist Financial reiterated a "buy" rating and set a $215.00 target price (down from $245.00) on shares of Avery Dennison in a report on Friday, January 31st. Robert W. Baird set a $220.00 price objective on shares of Avery Dennison in a research note on Friday, January 31st. Raymond James reaffirmed an "outperform" rating and set a $208.00 target price (down previously from $218.00) on shares of Avery Dennison in a research report on Friday, January 31st. UBS Group dropped their target price on Avery Dennison from $235.00 to $207.00 and set a "neutral" rating on the stock in a research report on Friday, January 10th. Finally, Citigroup dropped their target price on Avery Dennison from $228.00 to $202.00 and set a "neutral" rating on the stock in a research report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $222.51.

Hedge Funds Weigh In On Avery Dennison

Institutional investors and hedge funds have recently modified their holdings of the stock. Larson Financial Group LLC lifted its stake in shares of Avery Dennison by 100.0% in the 3rd quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company's stock valued at $31,000 after purchasing an additional 71 shares during the period. Kennebec Savings Bank acquired a new position in shares of Avery Dennison during the 3rd quarter worth approximately $36,000. Peterson Financial Group Inc. acquired a new position in shares of Avery Dennison during the 3rd quarter worth approximately $39,000. Regents Gate Capital LLP acquired a new position in Avery Dennison during the fourth quarter worth $37,000. Finally, Brooklyn Investment Group acquired a new position in Avery Dennison during the third quarter worth $66,000. Institutional investors and hedge funds own 94.17% of the company's stock.

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.