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

Avery Dennison Co. (NYSE:AVYGet Rating) was the target of a significant decrease in short interest in the month of April. As of April 15th, there was short interest totalling 757,800 shares, a decrease of 20.0% from the March 31st total of 946,800 shares. Based on an average daily volume of 683,000 shares, the short-interest ratio is currently 1.1 days. Currently, 0.9% of the shares of the company are sold short.

Several analysts recently commented on AVY shares. Raymond James raised their target price on Avery Dennison from $185.00 to $200.00 in a report on Thursday, April 28th. Loop Capital decreased their target price on Avery Dennison from $209.00 to $202.00 and set a “buy” rating on the stock in a research report on Wednesday, April 13th. Truist Financial began coverage on shares of Avery Dennison in a research report on Friday, March 25th. They set a “buy” rating and a $227.00 price target on the stock. JPMorgan Chase & Co. raised shares of Avery Dennison from a “neutral” rating to an “overweight” rating and dropped their price objective for the company from $215.00 to $195.00 in a report on Wednesday, April 27th. Finally, StockNews.com began coverage on shares of Avery Dennison in a report on Thursday, March 31st. They issued a “hold” rating for the company. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Avery Dennison currently has an average rating of “Buy” and a consensus target price of $216.00.

A number of institutional investors and hedge funds have recently bought and sold shares of AVY. BlackRock Inc. grew its holdings in shares of Avery Dennison by 5.8% during the 3rd quarter. BlackRock Inc. now owns 7,010,770 shares of the industrial products company’s stock worth $1,452,701,000 after purchasing an additional 382,261 shares during the period. State Street Corp boosted its holdings in Avery Dennison by 1.0% in the 4th quarter. State Street Corp now owns 3,923,611 shares of the industrial products company’s stock worth $849,736,000 after acquiring an additional 37,281 shares during the period. Victory Capital Management Inc. boosted its holdings in Avery Dennison by 5.7% in the 4th quarter. Victory Capital Management Inc. now owns 1,837,141 shares of the industrial products company’s stock worth $397,869,000 after acquiring an additional 98,939 shares during the period. Geode Capital Management LLC raised its position in shares of Avery Dennison by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 1,524,097 shares of the industrial products company’s stock valued at $329,200,000 after purchasing an additional 17,936 shares in the last quarter. Finally, Lazard Asset Management LLC raised its position in shares of Avery Dennison by 9.1% in the 4th quarter. Lazard Asset Management LLC now owns 1,181,068 shares of the industrial products company’s stock valued at $255,783,000 after purchasing an additional 98,953 shares in the last quarter. Institutional investors own 88.83% of the company’s stock.

AVY stock traded up $3.23 during midday trading on Tuesday, reaching $182.48. 7,083 shares of the company were exchanged, compared to its average volume of 684,014. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.71 and a current ratio of 1.06. The company has a market cap of $14.97 billion, a price-to-earnings ratio of 20.53, a price-to-earnings-growth ratio of 2.66 and a beta of 0.93. The stock’s 50-day simple moving average is $171.48 and its 200 day simple moving average is $195.27. Avery Dennison has a 1-year low of $156.51 and a 1-year high of $229.24.

Avery Dennison (NYSE:AVYGet Rating) last released its earnings results on Tuesday, April 26th. The industrial products company reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.17 by $0.23. The company had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.28 billion. Avery Dennison had a return on equity of 40.50% and a net margin of 8.37%. Avery Dennison’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.40 earnings per share. On average, research analysts anticipate that Avery Dennison will post 9.71 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 15th. Shareholders of record on Wednesday, June 1st will be issued a $0.75 dividend. This is a boost from Avery Dennison’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Tuesday, May 31st. This represents a $3.00 annualized dividend and a yield of 1.64%. Avery Dennison’s payout ratio is 31.16%.

Avery Dennison Company Profile (Get Rating)

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; and graphics and reflective products under the Fasson, JAC, Avery Dennison, and Mactac brands, as well as durable cast and reflective films.

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