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

Avery Dennison Co. (NYSE:AVY) saw a significant growth in short interest in the month of 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 company’s shares are sold short. Based on an average daily trading volume, of 542,600 shares, the days-to-cover ratio is presently 3.6 days.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. BMO Capital Markets lowered their target price 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. Barclays lowered their price objective on shares of Avery Dennison from $245.00 to $225.00 and set an “overweight” rating for the company in a research note on Monday. Citigroup lowered their price objective on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Raymond James reaffirmed an “outperform” rating and issued a $208.00 price objective (down from $218.00) on shares of Avery Dennison in a research note on Friday. Finally, Truist Financial reiterated a “buy” rating and issued a $215.00 target price (down from $245.00) on shares of Avery Dennison in a report on Friday. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $227.15.

Insiders Place Their Bets

In other news, SVP Nicholas Colisto sold 3,679 shares of the business’s stock in a transaction 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 completion of the sale, the senior vice president now directly owns 7,126 shares of the company’s stock, valued at approximately $1,467,956. The trade was a 34.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is owned by insiders.

Institutional Trading of Avery Dennison

A number of hedge funds and other institutional investors have recently bought and sold shares of AVY. Empirical Finance LLC grew its holdings in shares of Avery Dennison by 2.0% during the third quarter. Empirical Finance LLC now owns 2,822 shares of the industrial products company’s stock worth $623,000 after buying an additional 55 shares during the last quarter. Procyon Advisors LLC grew its holdings in shares of Avery Dennison by 4.0% during the third quarter. Procyon Advisors LLC now owns 1,442 shares of the industrial products company’s stock worth $319,000 after buying an additional 56 shares during the last quarter. Greenleaf Trust boosted its holdings in Avery Dennison by 4.4% in the 4th quarter. Greenleaf Trust now owns 1,352 shares of the industrial products company’s stock valued at $253,000 after purchasing an additional 57 shares in the last quarter. AdvisorNet Financial Inc boosted its holdings in Avery Dennison by 18.8% in the 4th quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company’s stock valued at $69,000 after purchasing an additional 58 shares in the last quarter. Finally, Lindenwold Advisors INC boosted its holdings in Avery Dennison by 0.6% in the 3rd quarter. Lindenwold Advisors INC now owns 10,266 shares of the industrial products company’s stock valued at $2,266,000 after purchasing an additional 59 shares in the last quarter. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Avery Dennison Trading Down 0.3 %

Shares of NYSE:AVY traded down $0.56 during midday trading on Tuesday, reaching $182.78. 48,397 shares of the company’s stock were exchanged, compared to its average volume of 757,600. The firm’s 50 day simple moving average is $193.21 and its two-hundred day simple moving average is $205.88. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73. The stock has a market cap of $14.69 billion, a price-to-earnings ratio of 20.96, a P/E/G ratio of 1.37 and a beta of 0.89. Avery Dennison has a fifty-two week low of $179.20 and a fifty-two week high of $233.48.

Avery Dennison (NYSE:AVY) last released its earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share 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%. As a group, sell-side analysts forecast that Avery Dennison will post 10.03 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

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

About Avery Dennison

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.