Avery Dennison Corporation (AVY) Receives Hold Rating from KeyCorp
KeyCorp reissued their hold rating on shares of Avery Dennison Corporation (NYSE:AVY) in a research note published on Monday morning. KeyCorp also issued estimates for Avery Dennison Corporation’s Q4 2017 earnings at $1.27 EPS, FY2017 earnings at $4.95 EPS and FY2018 earnings at $5.44 EPS.
A number of other equities analysts also recently issued reports on the company. Zacks Investment Research raised Avery Dennison Corporation from a sell rating to a buy rating and set a $117.00 price target on the stock in a research report on Friday, October 27th. Robert W. Baird reissued a buy rating and set a $115.00 price target on shares of Avery Dennison Corporation in a research report on Friday, October 27th. Loop Capital raised their price objective on Avery Dennison Corporation from $99.00 to $106.00 and gave the company a hold rating in a research report on Thursday, October 26th. J P Morgan Chase & Co downgraded Avery Dennison Corporation from an overweight rating to a neutral rating in a research report on Thursday, October 26th. Finally, Citigroup Inc. raised their price objective on Avery Dennison Corporation from $106.00 to $108.00 and gave the company a buy rating in a research report on Wednesday, July 26th. Five equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Avery Dennison Corporation currently has a consensus rating of Buy and an average price target of $105.29.
Avery Dennison Corporation (NYSE:AVY) last posted its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.05. Avery Dennison Corporation had a return on equity of 40.52% and a net margin of 6.27%. The business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the prior year, the company earned $1.01 EPS. The business’s revenue was up 11.3% compared to the same quarter last year.
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The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Wednesday, December 6th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend is Tuesday, December 5th. Avery Dennison Corporation’s payout ratio is currently 40.18%.
In other Avery Dennison Corporation news, Director David E. I. Pyott sold 298 shares of the stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $94.00, for a total value of $28,012.00. Following the completion of the sale, the director now directly owns 16,601 shares in the company, valued at $1,560,494. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Susan C. Miller sold 6,518 shares of the stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $105.17, for a total value of $685,498.06. Following the completion of the sale, the vice president now owns 13,409 shares of the company’s stock, valued at $1,410,224.53. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 126,367 shares of company stock worth $13,350,157. 1.40% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the business. Federated Investors Inc. PA raised its stake in Avery Dennison Corporation by 1,038.8% in the second quarter. Federated Investors Inc. PA now owns 99,245 shares of the industrial products company’s stock valued at $8,770,000 after buying an additional 90,530 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in Avery Dennison Corporation by 24.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 501,062 shares of the industrial products company’s stock valued at $44,279,000 after buying an additional 98,593 shares during the last quarter. Kings Point Capital Management purchased a new stake in Avery Dennison Corporation in the second quarter valued at about $2,831,000. JPMorgan Chase & Co. raised its stake in Avery Dennison Corporation by 2.2% in the second quarter. JPMorgan Chase & Co. now owns 585,504 shares of the industrial products company’s stock valued at $51,742,000 after buying an additional 12,873 shares during the last quarter. Finally, AXA raised its stake in Avery Dennison Corporation by 35.1% in the second quarter. AXA now owns 277,856 shares of the industrial products company’s stock valued at $24,554,000 after buying an additional 72,200 shares during the last quarter. Institutional investors own 86.76% of the company’s stock.
About Avery Dennison Corporation
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 segments include Label and Graphic Materials (LGM); Retail Branding and Information Solutions (RBIS), and Industrial and Healthcare Materials (IHM).
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