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

Avery Dennison Co. (NYSE:AVY) saw a significant decrease in short interest in the month of February. As of February 15th, there was short interest totalling 1,540,000 shares, a decrease of 19.8% from the January 31st total of 1,920,000 shares. Currently, 2.0% of the shares of the stock are short sold. Based on an average trading volume of 659,500 shares, the short-interest ratio is currently 2.3 days.

Avery Dennison Price Performance

Shares of NYSE:AVY traded up $1.71 during midday trading on Wednesday, hitting $183.04. The company had a trading volume of 1,055,993 shares, compared to its average volume of 728,993. The business’s 50-day simple moving average is $186.47 and its 200-day simple moving average is $201.36. The stock has a market cap of $14.46 billion, a price-to-earnings ratio of 20.99, a price-to-earnings-growth ratio of 2.07 and a beta of 0.89. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73. Avery Dennison has a twelve month low of $178.72 and a twelve month high of $233.48.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.38 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, research analysts predict that Avery Dennison will post 9.96 earnings per share for the current year.

Avery Dennison Dividend Announcement

The company also recently declared 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. The ex-dividend date is Wednesday, March 5th. This represents a $3.52 annualized dividend and a dividend yield of 1.92%. Avery Dennison’s dividend payout ratio (DPR) is 40.37%.

Institutional Trading of Avery Dennison

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Larson Financial Group LLC grew its position in Avery Dennison by 100.0% in the third quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 71 shares during the period. Kennebec Savings Bank purchased a new position in shares of Avery Dennison during the 3rd quarter worth $36,000. Regents Gate Capital LLP acquired a new stake in shares of Avery Dennison during the 4th quarter worth about $37,000. Peterson Financial Group Inc. purchased a new stake in Avery Dennison in the 3rd quarter valued at about $39,000. Finally, Spire Wealth Management lifted its position in Avery Dennison by 76.0% in the fourth 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 last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Barclays dropped their target price on shares of Avery Dennison from $245.00 to $225.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. JPMorgan Chase & Co. upgraded Avery Dennison from a “neutral” rating to an “overweight” rating and lowered their price objective for the stock from $210.00 to $205.00 in a report on Friday, January 31st. Citigroup cut their price objective on Avery Dennison from $228.00 to $202.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Robert W. Baird set a $220.00 target price on Avery Dennison in a research report on Friday, January 31st. Finally, Bank of America dropped their price target on 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 research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $222.51.

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.