Avery Dennison (AVY) to Release Quarterly Earnings on Wednesday

Avery Dennison (NYSE:AVY) will post its quarterly earnings results before the market opens on Wednesday, April 24th. Analysts expect Avery Dennison to post earnings of $2.15 per share for the quarter. Avery Dennison has set its FY 2024 guidance at 9.000-9.500 EPS and its FY24 guidance at $9.00-9.50 EPS.Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $2.16 EPS for the quarter, hitting the consensus estimate of $2.16. The business had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.10 billion. Avery Dennison had a net margin of 6.01% and a return on equity of 30.97%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.65 earnings per share. On average, analysts expect Avery Dennison to post $9 EPS for the current fiscal year and $10 EPS for the next fiscal year.

Avery Dennison Stock Up 1.1 %

Shares of Avery Dennison stock opened at $211.57 on Monday. The business has a 50-day moving average price of $214.97 and a 200 day moving average price of $199.52. Avery Dennison has a fifty-two week low of $158.93 and a fifty-two week high of $225.26. The firm has a market cap of $17.04 billion, a P/E ratio of 34.07, a P/E/G ratio of 3.26 and a beta of 0.90. The company has a quick ratio of 0.69, a current ratio of 1.04 and a debt-to-equity ratio of 1.23.

Avery Dennison Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were issued a $0.81 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 1.53%. Avery Dennison’s dividend payout ratio (DPR) is 52.17%.

Analyst Ratings Changes

Several equities analysts recently issued reports on AVY shares. Bank of America cut Avery Dennison from a “buy” rating to an “underperform” rating and set a $208.00 price objective on the stock. in a research note on Tuesday, January 2nd. UBS Group increased their price objective on shares of Avery Dennison from $225.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, January 11th. Citigroup lifted their target price on Avery Dennison from $223.00 to $234.00 and gave the company a “neutral” rating in a research note on Thursday, April 4th. Truist Financial reaffirmed a “buy” rating and set a $249.00 target price on shares of Avery Dennison in a report on Friday, January 19th. Finally, StockNews.com downgraded Avery Dennison from a “buy” rating to a “hold” rating in a report on Wednesday, March 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Avery Dennison currently has an average rating of “Moderate Buy” and an average price target of $221.00.

Insider Activity

In other news, insider Ryan D. Yost sold 1,400 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $213.29, for a total value of $298,606.00. Following the completion of the transaction, the insider now directly owns 2,843 shares in the company, valued at $606,383.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Chairman Mitchell R. Butier sold 8,168 shares of Avery Dennison stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $217.36, for a total value of $1,775,396.48. Following the transaction, the chairman now directly owns 321,487 shares of the company’s stock, valued at $69,878,414.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Ryan D. Yost sold 1,400 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $213.29, for a total transaction of $298,606.00. Following the completion of the transaction, the insider now directly owns 2,843 shares of the company’s stock, valued at approximately $606,383.47. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,879 shares of company stock valued at $4,217,705. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Avery Dennison by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 9,674,317 shares of the industrial products company’s stock valued at $1,683,041,000 after buying an additional 24,670 shares during the period. BlackRock Inc. boosted its stake in Avery Dennison by 0.6% during the 1st quarter. BlackRock Inc. now owns 6,555,514 shares of the industrial products company’s stock valued at $1,172,978,000 after purchasing an additional 41,032 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Avery Dennison by 1.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,242,669 shares of the industrial products company’s stock worth $405,923,000 after acquiring an additional 39,266 shares during the last quarter. Lazard Asset Management LLC grew its position in Avery Dennison by 8.1% in the 4th quarter. Lazard Asset Management LLC now owns 2,046,007 shares of the industrial products company’s stock worth $370,326,000 after purchasing an additional 153,211 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC increased its stake in Avery Dennison by 102,432.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 1,947,083 shares of the industrial products company’s stock valued at $352,422,000 after acquiring an additional 1,945,184 shares during the period. 94.17% of the stock is owned by institutional investors and hedge funds.

About Avery Dennison

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.