Shares of Avery Dennison Corp. (NYSE:AVY) reached a new 52-week high on Friday . The stock traded as high as $78.95 and last traded at $78.38, with a volume of 239,295 shares changing hands. The stock had previously closed at $77.39.

AVY has been the topic of a number of research reports. Barclays PLC boosted their target price on shares of Avery Dennison Corp. from $82.00 to $86.00 and gave the company an “overweight” rating in a report on Monday, May 2nd. Zacks Investment Research cut shares of Avery Dennison Corp. from a “buy” rating to a “hold” rating in a report on Monday, July 4th. JPMorgan Chase & Co. boosted their target price on shares of Avery Dennison Corp. from $78.00 to $80.00 and gave the company a “neutral” rating in a report on Wednesday, July 27th. Bank of America Corp. cut shares of Avery Dennison Corp. from a “buy” rating to an “underperform” rating and set a $75.00 target price on the stock. in a report on Friday, July 1st. Finally, Credit Suisse Group AG initiated coverage on shares of Avery Dennison Corp. in a report on Friday, April 22nd. They set a “neutral” rating and a $75.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. Avery Dennison Corp. presently has an average rating of “Hold” and a consensus price target of $78.14.

The stock has a market cap of $7.12 billion and a P/E ratio of 23.39. The stock has a 50-day moving average price of $74.57 and a 200 day moving average price of $71.18.

Avery Dennison Corp. (NYSE:AVY) last released its earnings results on Tuesday, July 26th. The company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.08. During the same quarter in the previous year, the business earned $0.91 EPS. The business earned $1.54 billion during the quarter, compared to analysts’ expectations of $1.54 billion. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. On average, equities analysts expect that Avery Dennison Corp. will post $3.92 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 21st. Shareholders of record on Wednesday, September 7th will be paid a $0.41 dividend. The ex-dividend date of this dividend is Friday, September 2nd. This represents a $1.64 dividend on an annualized basis and a yield of 2.09%.

In other Avery Dennison Corp. news, VP Anne Hill sold 30,000 shares of the stock in a transaction on Tuesday, June 7th. The stock was sold at an average price of $76.25, for a total value of $2,287,500.00. Following the sale, the vice president now owns 77,847 shares in the company, valued at $5,935,833.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Dean A. Scarborough sold 130,000 shares of the stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $77.05, for a total value of $10,016,500.00. Following the completion of the sale, the insider now owns 261,066 shares in the company, valued at approximately $20,115,135.30. The disclosure for this sale can be found here.

A number of hedge funds have added to or reduced their stakes in AVY. Utah Retirement Systems raised its stake in Avery Dennison Corp. by 0.6% in the fourth quarter. Utah Retirement Systems now owns 16,325 shares of the company’s stock worth $1,023,000 after buying an additional 100 shares during the last quarter. Gulf International Bank UK Ltd raised its position in shares of Avery Dennison Corp. by 0.7% in the fourth quarter. Gulf International Bank UK Ltd now owns 28,949 shares of the company’s stock valued at $1,814,000 after buying an additional 200 shares in the last quarter. Nationwide Fund Advisors raised its position in shares of Avery Dennison Corp. by 2.1% in the fourth quarter. Nationwide Fund Advisors now owns 27,352 shares of the company’s stock valued at $1,714,000 after buying an additional 554 shares in the last quarter. Dai Ichi Life Insurance CO. LTD. raised its position in shares of Avery Dennison Corp. by 7.6% in the fourth quarter. Dai Ichi Life Insurance CO. LTD. now owns 33,045 shares of the company’s stock valued at $2,071,000 after buying an additional 2,335 shares in the last quarter. Finally, I.G. Investment Management LTD. raised its position in shares of Avery Dennison Corp. by 23.9% in the fourth quarter. I.G. Investment Management LTD. now owns 18,458 shares of the company’s stock valued at $1,157,000 after buying an additional 3,561 shares in the last quarter.

Avery Dennison Corporation (Avery Dennison) is engaged in the production of pressure-sensitive materials and a range of tickets, tags, labels and other converted products. The Company’s pressure-sensitive materials are sold to label printers and converters that convert the materials into labels and other products through embossing, printing, stamping and die-cutting.

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