Avery Dennison Co. (NYSE:AVY - Get Free Report)'s stock price hit a new 52-week low on Friday . The stock traded as low as $171.51 and last traded at $171.83, with a volume of 3930 shares trading hands. The stock had previously closed at $176.34.
Wall Street Analyst Weigh In
AVY has been the topic of several recent analyst reports. BMO Capital Markets set a $226.00 target price on Avery Dennison in a report on Monday, February 3rd. UBS Group decreased their target price on shares of Avery Dennison from $207.00 to $189.00 and set a "neutral" rating for the company in a research note on Monday. Raymond James reiterated an "outperform" rating and issued a $208.00 target price (down from $218.00) on shares of Avery Dennison in a research note on Friday, January 31st. Robert W. Baird set a $220.00 price target on Avery Dennison in a report on Friday, January 31st. Finally, Bank of America cut their price objective on shares of Avery Dennison from $238.00 to $220.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $220.87.
Read Our Latest Analysis on Avery Dennison
Avery Dennison Price Performance
The company has a market cap of $12.58 billion, a price-to-earnings ratio of 18.27, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85. The company has a fifty day simple moving average of $181.22 and a two-hundred day simple moving average of $194.64. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10.
Avery Dennison (NYSE:AVY - Get Free Report) 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 return on equity of 33.06% and a net margin of 8.05%. On average, equities research analysts anticipate that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal year.
Avery Dennison Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were paid a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 2.21%. The ex-dividend date was Wednesday, March 5th. Avery Dennison's payout ratio is 40.37%.
Insiders Place Their Bets
In other Avery Dennison news, Chairman Mitchell R. Butier sold 12,969 shares of Avery Dennison stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $181.85, for a total value of $2,358,412.65. Following the completion of the sale, the chairman now directly owns 303,331 shares of the company's stock, valued at approximately $55,160,742.35. The trade was a 4.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.84% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Avery Dennison
Several institutional investors have recently added to or reduced their stakes in AVY. Regents Gate Capital LLP acquired a new stake in shares of Avery Dennison in the fourth quarter worth approximately $37,000. Spire Wealth Management grew its stake in shares of Avery Dennison by 76.0% during the 4th quarter. Spire Wealth Management now owns 301 shares of the industrial products company's stock valued at $56,000 after buying an additional 130 shares during the period. VisionPoint Advisory Group LLC acquired a new stake in shares of Avery Dennison during the 4th quarter worth $68,000. AdvisorNet Financial Inc raised its position in shares of Avery Dennison by 18.8% in the 4th quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company's stock worth $69,000 after buying an additional 58 shares during the period. Finally, Assetmark Inc. boosted its holdings in Avery Dennison by 22.5% in the fourth quarter. Assetmark Inc. now owns 397 shares of the industrial products company's stock valued at $74,000 after acquiring an additional 73 shares during the last quarter. 94.17% of the stock is currently owned by institutional investors and hedge funds.
About Avery Dennison
(
Get 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.
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