Avery Dennison (AVY)

Avery Dennison is a global materials science company specializing in the design and manufacture of a wide variety of labeling and functional materials. The company's products, which are used in nearly every major industry, include pressure-sensitive materials for labels and graphic applications; tapes and other bonding solutions for industrial, medical, and retail applications; tags, labels and embellishments for apparel; and radio frequency identification (RFID) solutions serving retail apparel and other markets. Headquartered in Glendale, California, the company employs more than 32,000 employees in more than 50 countries. Reported sales in 2020 were $7.0 billion.

Company profile

Ticker

AVY

Exchange

NYSE

Website

www.averydennison.com

CEO

Mitchell Butier

Incorporated

Delaware

Location

Ohio

Fiscal year end

Dec 31

Sector

Manufacturing > Paper Bag and Coated and Treated Paper Manufacturing

Industry (SIC)

Converted Paper & Paperboard Prods (No Containers/Boxes)

Kimberly-Clark • Bemis • IT Tech Packaging • Ranpak • Bemax • Intertape Polymer ...

Former names

AVERY DENNISON CORPORATION

SEC CIK

0000008818

Corporate docs

Articles of Incorporation & Bylaws

Underwriting Agreements

Plans of Reorganization

Indentures

Material Contracts & Credit Agreements

Subsidiaries Lists

Subsidiaries

ADC PHILIPPINES, INC. • ADESPAN S.R.L. • ADHIPRESS BANGLADESH LTD. • AVERY CORP. • AVERY DE MEXICO SRL • AVERY DENNISON ATMA d.o.o. • AVERY DENNISON ATMA GMBH • AVERY DENNISON AUSTRALIA INTERNATIONAL HOLDINGS PTY LTD. • AVERY DENNISON AUSTRALIA PTY LTD. • AVERY DENNISON BELGIE BV ...

IRS number

951492269

AVY stock data

1M 1Y 5Y

News

From Benzinga Pro

Avery Dennison Scales Manufacturing Capacity Of Wiliot Tags

17 May 22

Avery Dennison, Wiliot Announce Strategic Partnership To Build And Scale The Future Of The Internet Of Things; Terms Not Disclosed

17 May 22

Avery Dennison and Wiliot Announce Strategic Partnership to Build and Scale the Future of the Internet of Things Avery Dennison, a strategic investor in Wiliot and the leading developer and provider of digital ID

Raymond James Maintains Outperform on Avery Dennison, Raises Price Target to $200

28 Apr 22

Raymond James analyst Joshua Wilson maintains Avery Dennison (NYSE:AVY) with a Outperform and raises the price target from $185 to $200.

BMO Capital Maintains Outperform on Avery Dennison, Lowers Price Target to $240

28 Apr 22

Benzinga's Top Ratings Upgrades, Downgrades For April 27, 2022

27 Apr 22

Press releases

From Benzinga Pro

ALURX LAUNCHES ITS WELLNESS COLLECTIONS ON DERMSTORE AND SKINSTORE, DISRUPTING TRADITIONAL BEAUTY CATEGORIES

14 Jun 22

PASADENA, Calif., June 14, 2022 /PRNewswire/ -- The "Inside Out" beauty trend has evolved over the last two years to include self-care routines and a more holistic approach to skin health. Alurx disrupts the

ALURX, THE WELLNESS HUB, WELCOMES DR. ILYAS AND DR. PERAINO TO ITS TRUSTED MEDICAL & EXPERT COUNCIL

24 May 22

PASADENA, Calif., May 24, 2022 /PRNewswire/ -- Alurx welcomes two new members to its Medical & Expert Council: Dr. Erum Ilyas, a Board Certified Dermatologist focused on medical dermatology and skin cancer treatment,

Avery Dennison and Wiliot Announce Strategic Partnership to Build and Scale the Future of the Internet of Things

17 May 22

Avery Dennison, a strategic investor in Wiliot and the leading developer and provider of digital ID technologies is strengthening its commitment to scaling the IoT through the integration of atma.io and the development,

In Support of Skin Cancer Awareness Month, Avery Dennison Urges Drivers to Consider the Benefits of Automotive Window Film in Blocking UV Radiation

2 May 22

Avery Dennison Increases Quarterly Dividend

28 Apr 22

Analyst ratings and price targets

Last 3 months

Average target

$209.40

Low target

$195.00

High target

$240.00

Calendar

3 May 22

26 Jun 22

31 Dec 22

Financial summary

Financial statements Chart AVY financial data

Quarter (USD)	Apr 22	Jan 22	Oct 21	Jul 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Annual (USD)	Jan 22	Jan 21	Dec 19	Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Cash burn rate (est.)	Burn method: Change in cash		Burn method: Operating income		Burn method: FCF (opex + capex)
	Last Q	Avg 4Q	Last Q	Avg 4Q	Last Q	Avg 4Q
Cash on hand (at last report)	147.1M	147.1M		147.1M	147.1M	147.1M
Cash burn (monthly)	5.2M	15.08M		(no burn)	(no burn)	(no burn)
Cash used (since last report)	14.6M	42.31M		n/a	n/a	n/a
Cash remaining	132.5M	104.79M		n/a	n/a	n/a
Runway (months of cash)	25.5	7.0		n/a	n/a	n/a

Beta Read what these cash burn values mean

Financial data from company earnings reports.

Recent insider trades

AVY insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	$Price	#Shares	$Value	#Remaining
1 May 22	Lopez Andres Alberto	Common Stock	Option exercise	Acquire M	No	No	182.8	792	144.78K	7,115
1 May 22	Lopez Andres Alberto	2022 Director RSU Award Common Stock	Grant	Acquire A	No	No	0	930	0	930
1 May 22	Lopez Andres Alberto	2021 Director RSU Award Common Stock	Option exercise	Dispose M	No	No	0	792	0	0
1 May 22	Anderson Anthony	Common Stock	Option exercise	Acquire M	No	No	182.8	792	144.78K	4,174
1 May 22	Anderson Anthony	2022 Director RSU Award Common Stock	Grant	Acquire A	No	No	0	930	0	930
1 May 22	Anderson Anthony	2021 Director RSU Award Common Stock	Option exercise	Dispose M	No	No	0	792	0	0
1 May 22	Sullivan Martha N.	Common Stock	Option exercise	Acquire M	No	No	182.8	792	144.78K	16,660
1 May 22	Sullivan Martha N.	2022 Director RSU Award Common Stock	Grant	Acquire A	No	No	0	930	0	930
1 May 22	Sullivan Martha N.	2021 Director RSU Award Common Stock	Option exercise	Dispose M	No	No	0	792	0	0
1 May 22	Hicks Ken C	Common Stock	Option exercise	Acquire M	No	No	182.8	792	144.78K	29,002

Data from 3, 4 and 5 filings. Values as filed, not updated for current price.

Institutional ownership, Q1 2022

AVY institutional ownership history Ownership history

88.8% owned by funds/institutions

13F holders	Current	Prev Q	Change
Total holders	653	697	-6.3%
Opened positions	66	107	-38.3%
Closed positions	110	73	+50.7%
Increased positions	263	240	+9.6%
Reduced positions	221	224	-1.3%

13F shares	Current	Prev Q	Change
Total value	12.6B	15.88B	-20.6%
Total shares	72.54M	73.34M	-1.1%
Total puts	87.1K	33.1K	+163.1%
Total calls	74.4K	23.7K	+213.9%
Total put/call ratio	1.2	1.4	-16.2%

Largest owners	Shares	Value	Change
Vanguard	9.67M	$1.68B	+0.3%
BLK Blackrock	6.77M	$1.18B	+0.6%
TROW T. Rowe Price	5.96M	$1.04B	+8.6%
STT State Street	3.87M	$673.2M	-1.4%
Victory Capital Management	2.17M	$378.48M	+17.9%
Lazard Asset Management	1.75M	$304.1M	+48.0%
IVZ Invesco	1.61M	$280.35M	-6.8%
Geode Capital Management	1.58M	$274.7M	+3.9%
AMP Ameriprise Financial	1.4M	$243.62M	+2.2%
Lord, Abbett & Co.	1.18M	$206.1M	-5.8%

Largest transactions	Shares	Bought/sold	Change
Select Equity	11.44K	-1.96M	-99.4%
Norges Bank	0	-730.79K	EXIT
Lazard Asset Management	1.75M	+566.94K	+48.0%
Putnam Investments	265.87K	-563.86K	-68.0%
FMR	833.09K	-530.14K	-38.9%
TROW T. Rowe Price	5.96M	+474.09K	+8.6%
Ceredex Value Advisors	452.19K	+452.19K	NEW
Assenagon Asset Management	411.63K	+395.39K	+2434.2%
Fiduciary Management	369.26K	+369.26K	NEW
Victory Capital Management	2.17M	+329.45K	+17.9%

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Financial report summary

Competition

Transact • VerifyMe

Management Discussion

Operating income refers to income before taxes, interest and other non-operating expense (income), net.
The factors impacting reported sales change are shown in the table below.
In the first quarter of 2022, net sales increased on an organic basis compared to the same period in the prior year due to pricing actions, partially offset by a modest decline in volume/mix. On an organic basis, net sales increased by a low-to-mid-single digit rate in emerging markets and high teens rates in North America and Western Europe.

Content analysis

Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability	H.S. freshman Avg

New words: Afghanistan, AG, Article, Baski, build, Canada, ceased, civil, climate, confidence, conflict, Contractual, diminished, displacement, ease, economy, embellishment, EU, European, external, Form, hold, Hong, Ihracat, imported, inserted, instability, invaded, invasion, Iran, Iraq, Ithalat, Japan, knitted, Kong, Korea, Latin, leading, Macroeconomic, Matbaa, Mentor, military, modest, neighboring, Ohio, orderly, past, payroll, permitted, primary, printing, reciprocal, reclassification, Regulation, Rietveld, Russia, Russian, Sanayi, Screenprinting, Serigrafi, Serigrafie, sewn, shipment, Sirketi, slower, social, spend, spending, spilled, stability, strongly, Syria, Tekstil, terrorist, TexTrace, threatened, Ticaret, Turkey, turn, type, Ukraine, Union, unrest, ve, venture, woven

Removed: accelerated, accrual, achievement, ACPO, acquire, actively, adapt, agility, agreement, borrowed, California, closely, covering, customary, December, Department, determine, dynamic, elevated, employment, environment, exclusive, expanded, experiencing, focused, food, frozen, Glendale, implementing, increasing, incremental, indemnity, initially, JDC, June, lawsuit, leveraging, manufacturer, matured, NaN, obligated, pandemic, Postretirement, preparation, priority, quickly, rely, repaid, repay, retroactive, robust, scale, scenario, Smartrac, specialty, sponsor, subsequently, termination, top, transition, typically, unconsolidated, unfunded, variety, vested, ZippyYum

From filing 10-Q 2022 Q1

Financial reports

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