Avery Dennison Co. (NYSE:AVY) Receives $221.00 Consensus Target Price from Brokerages

Avery Dennison Co. (NYSE:AVY) has been given a consensus rating of “Moderate Buy” by the nine analysts that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $221.00.

A number of brokerages recently weighed in on AVY. Citigroup raised their price objective on Avery Dennison from $223.00 to $234.00 and gave the company a “neutral” rating in a research report on Thursday, April 4th. UBS Group lifted their price target on shares of Avery Dennison from $225.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. StockNews.com lowered Avery Dennison from a “buy” rating to a “hold” rating in a report on Wednesday, March 27th. JPMorgan Chase & Co. boosted their target price on Avery Dennison from $185.00 to $218.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. Finally, Truist Financial reissued a “buy” rating and issued a $249.00 price target on shares of Avery Dennison in a report on Friday, January 19th.

Avery Dennison Price Performance

Shares of AVY stock opened at $209.35 on Tuesday. The stock has a 50 day moving average price of $214.84 and a 200 day moving average price of $199.06. The firm has a market capitalization of $16.86 billion, a P/E ratio of 33.71, a P/E/G ratio of 3.25 and a beta of 0.90. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.69 and a current ratio of 1.04. Avery Dennison has a 52-week low of $158.93 and a 52-week high of $225.26.

Avery Dennison (NYSE:AVY) last released its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.16. Avery Dennison had a net margin of 6.01% and a return on equity of 30.97%. The company had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.10 billion. During the same period in the previous year, the company earned $1.65 EPS. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. As a group, sell-side analysts predict that Avery Dennison will post 9.28 earnings per share for the current year.

Avery Dennison Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were paid a dividend of $0.81 per share. The ex-dividend date was Tuesday, March 5th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 1.55%. Avery Dennison’s payout ratio is currently 52.17%.

Insider Transactions at Avery Dennison

In related news, Director Julia A. Stewart sold 5,311 shares of Avery Dennison stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $202.26, for a total transaction of $1,074,202.86. Following the completion of the transaction, the director now directly owns 5,018 shares in the company, valued at $1,014,940.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Julia A. Stewart sold 5,311 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $202.26, for a total transaction of $1,074,202.86. Following the sale, the director now directly owns 5,018 shares of the company’s stock, valued at approximately $1,014,940.68. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Ryan D. Yost sold 1,400 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was 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 of the company’s stock, valued at approximately $606,383.47. The disclosure for this sale can be found here. Insiders have sold 19,879 shares of company stock worth $4,217,705 over the last quarter. 1.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Avery Dennison

Several institutional investors and hedge funds have recently added to or reduced their stakes in AVY. Alliance Wealth Advisors LLC UT grew its position in shares of Avery Dennison by 1.5% in the fourth quarter. Alliance Wealth Advisors LLC UT now owns 3,840 shares of the industrial products company’s stock valued at $776,000 after purchasing an additional 56 shares during the period. First Trust Direct Indexing L.P. boosted its holdings in Avery Dennison by 5.0% in the 4th quarter. First Trust Direct Indexing L.P. now owns 1,198 shares of the industrial products company’s stock worth $242,000 after buying an additional 57 shares during the last quarter. New York Life Investment Management LLC increased its stake in Avery Dennison by 0.5% during the 3rd quarter. New York Life Investment Management LLC now owns 11,454 shares of the industrial products company’s stock worth $2,092,000 after buying an additional 58 shares in the last quarter. Condor Capital Management raised its holdings in shares of Avery Dennison by 0.4% during the fourth quarter. Condor Capital Management now owns 13,716 shares of the industrial products company’s stock valued at $2,773,000 after acquiring an additional 60 shares during the last quarter. Finally, Signaturefd LLC lifted its position in shares of Avery Dennison by 25.5% in the third quarter. Signaturefd LLC now owns 300 shares of the industrial products company’s stock valued at $55,000 after acquiring an additional 61 shares in the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.

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.