Avery Dennison Corporation (NYSE:AVY) – KeyCorp upped their FY2017 earnings estimates for Avery Dennison Corporation in a research report issued on Thursday. KeyCorp analyst A. Josephson now forecasts that the industrial products company will post earnings of $4.69 per share for the year, up from their prior forecast of $4.68. KeyCorp has a “Hold” rating on the stock. KeyCorp also issued estimates for Avery Dennison Corporation’s FY2018 earnings at $4.84 EPS.

A number of other equities analysts also recently commented on AVY. BidaskClub raised shares of Avery Dennison Corporation from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 28th. Zacks Investment Research raised shares of Avery Dennison Corporation from a “hold” rating to a “buy” rating and set a $97.00 target price on the stock in a research note on Wednesday, June 21st. Aegis reissued a “hold” rating on shares of Avery Dennison Corporation in a research note on Thursday, June 1st. Barclays PLC reissued an “overweight” rating and issued a $96.00 target price (up previously from $95.00) on shares of Avery Dennison Corporation in a research note on Monday, May 1st. Finally, Bank of America Corporation raised shares of Avery Dennison Corporation from a “neutral” rating to a “buy” rating and raised their target price for the company from $90.00 to $96.00 in a research note on Tuesday, June 20th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $88.40.

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Avery Dennison Corporation (NYSE:AVY) opened at 90.78 on Monday. Avery Dennison Corporation has a 1-year low of $68.55 and a 1-year high of $91.17. The firm has a market cap of $8.04 billion, a P/E ratio of 23.84 and a beta of 1.18. The firm has a 50 day moving average of $85.03 and a 200 day moving average of $79.72.

Avery Dennison Corporation (NYSE:AVY) last posted its quarterly earnings results on Wednesday, April 26th. The industrial products company reported $1.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.07. The business had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.53 billion. Avery Dennison Corporation had a net margin of 5.56% and a return on equity of 38.48%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.94 earnings per share.

Large investors have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. raised its stake in Avery Dennison Corporation by 314.8% in the fourth quarter. Macquarie Group Ltd. now owns 11,200 shares of the industrial products company’s stock worth $787,000 after buying an additional 8,500 shares during the last quarter. Achmea Investment Management B.V. purchased a new stake in Avery Dennison Corporation during the first quarter worth $2,696,000. JPMorgan Chase & Co. raised its stake in Avery Dennison Corporation by 43.6% in the first quarter. JPMorgan Chase & Co. now owns 572,631 shares of the industrial products company’s stock worth $46,155,000 after buying an additional 173,901 shares during the last quarter. Atlantic Trust Group LLC raised its stake in Avery Dennison Corporation by 0.7% in the first quarter. Atlantic Trust Group LLC now owns 10,766 shares of the industrial products company’s stock worth $867,000 after buying an additional 78 shares during the last quarter. Finally, Raymond James Trust N.A. raised its stake in Avery Dennison Corporation by 15.9% in the first quarter. Raymond James Trust N.A. now owns 3,355 shares of the industrial products company’s stock worth $270,000 after buying an additional 461 shares during the last quarter. 88.49% of the stock is owned by institutional investors and hedge funds.

In other news, VP Deon Stander sold 5,000 shares of the firm’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $84.50, for a total value of $422,500.00. Following the transaction, the vice president now owns 10,998 shares of the company’s stock, valued at approximately $929,331. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Anthony Anderson sold 950 shares of the firm’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $84.42, for a total transaction of $80,199.00. Following the completion of the transaction, the director now directly owns 7,492 shares in the company, valued at approximately $632,474.64. The disclosure for this sale can be found here. In the last three months, insiders sold 12,198 shares of company stock worth $1,034,716. Insiders own 1.40% of the company’s stock.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 21st. Stockholders of record on Wednesday, June 7th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend was Monday, June 5th. This is an increase from Avery Dennison Corporation’s previous quarterly dividend of $0.41. Avery Dennison Corporation’s dividend payout ratio (DPR) is currently 47.37%.

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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