Avery Dennison (NYSE:AVY) Stock Rating Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of Avery Dennison (NYSE:AVY) from a buy rating to a hold rating in a research report report published on Sunday,Wall Street Zen reports.

AVY has been the subject of a number of other reports. Citigroup lifted their price target on shares of Avery Dennison from $186.00 to $191.00 and gave the stock a “neutral” rating in a report on Monday, November 2nd. UBS Group upped their price objective on shares of Avery Dennison from $225.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, October 30th. Weiss Ratings upgraded shares of Avery Dennison from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday. Bank of America restated a “buy” rating on shares of Avery Dennison in a research report on Friday, August 14th. Finally, JPMorgan Chase & Co. boosted their price target on Avery Dennison from $190.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, October 30th. Six analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $201.10.

Avery Dennison Stock Up 0.0%

Shares of NYSE:AVY opened at $186.81 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.16 and a debt-to-equity ratio of 1.33. Avery Dennison has a 52-week low of $152.42 and a 52-week high of $199.54. The stock’s fifty day simple moving average is $174.92 and its 200-day simple moving average is $172.32. The company has a market capitalization of $14.11 billion, a P/E ratio of 20.22, a P/E/G ratio of 2.20 and a beta of 0.77.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings data on Thursday, October 29th. The industrial products company reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $2.32 by $0.10. The business had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.26 billion. Avery Dennison had a return on equity of 33.88% and a net margin of 7.56%. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.37 earnings per share. As a group, equities research analysts forecast that Avery Dennison will post 10.17 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 16th. Stockholders of record on Wednesday, December 2nd will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Wednesday, December 2nd. Avery Dennison’s dividend payout ratio is presently 43.29%.

Insider Activity at Avery Dennison

In related news, SVP Nicholas Colisto sold 3,886 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $170.68, for a total value of $663,262.48. Following the completion of the sale, the senior vice president directly owned 7,126 shares in the company, valued at approximately $1,216,265.68. The trade was a 35.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andres Alberto Lopez sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $193.80, for a total transaction of $775,200.00. Following the completion of the sale, the director owned 1,147 shares of the company’s stock, valued at approximately $222,288.60. The trade was a 77.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.81% of the stock is currently owned by company insiders.

Institutional Trading of Avery Dennison

Several institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE acquired a new position in shares of Avery Dennison in the 2nd quarter worth approximately $142,169,000. QRG Capital Management Inc. increased its holdings in shares of Avery Dennison by 172.3% in the 2nd quarter. QRG Capital Management Inc. now owns 7,301 shares of the industrial products company’s stock valued at $1,185,000 after acquiring an additional 4,620 shares during the last quarter. HighTower Advisors LLC raised its position in shares of Avery Dennison by 32.9% during the 2nd quarter. HighTower Advisors LLC now owns 68,647 shares of the industrial products company’s stock valued at $11,145,000 after acquiring an additional 17,003 shares in the last quarter. AXQ Capital LP acquired a new stake in shares of Avery Dennison during the 2nd quarter valued at approximately $1,053,000. Finally, Corient Private Wealth LP raised its position in shares of Avery Dennison by 91.1% during the 2nd quarter. Corient Private Wealth LP now owns 124,011 shares of the industrial products company’s stock valued at $20,133,000 after acquiring an additional 59,109 shares in the last quarter. 94.17% of the stock is owned by hedge funds and other institutional investors.

Avery Dennison Company Profile

Avery Dennison is a global materials science and digital identification solutions company. Its products include pressure-sensitive labels and adhesives, packaging materials, and graphic films used in applications such as product labeling, vehicle graphics, and building signage.

The company also develops technologies that help businesses identify and track products, including RFID inlays and tags, which can support inventory management and supply-chain visibility. Its solutions serve customers across industries such as apparel, food and beverage, logistics, healthcare, and retail.

Founded in 1935 by R.