Avery Dennison Co. (NYSE:AVY) Given Average Rating of “Moderate Buy” by Brokerages

Avery Dennison Co. (NYSE:AVY) has received a consensus recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $244.96.

Several brokerages have weighed in on AVY. UBS Group downgraded Avery Dennison from a “buy” rating to a “neutral” rating and cut their price target for the stock from $262.00 to $235.00 in a report on Thursday, July 25th. JPMorgan Chase & Co. cut shares of Avery Dennison from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $230.00 to $210.00 in a report on Thursday, October 24th. Bank of America upgraded shares of Avery Dennison from an “underperform” rating to a “buy” rating and lifted their price target for the stock from $207.00 to $250.00 in a research note on Thursday, October 17th. Truist Financial raised their price objective on shares of Avery Dennison from $253.00 to $258.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, BMO Capital Markets lowered their target price on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th.

Insider Transactions at Avery Dennison

In related news, Chairman Mitchell R. Butier sold 7,108 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $218.12, for a total value of $1,550,396.96. Following the completion of the sale, the chairman now directly owns 304,114 shares of the company’s stock, valued at $66,333,345.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Chairman Mitchell R. Butier sold 7,108 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $218.12, for a total value of $1,550,396.96. Following the completion of the sale, the chairman now directly owns 304,114 shares of the company’s stock, valued at approximately $66,333,345.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Mitchell R. Butier sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $214.21, for a total transaction of $2,142,100.00. Following the transaction, the chairman now owns 304,114 shares in the company, valued at approximately $65,144,259.94. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 40,108 shares of company stock worth $8,561,057. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Avery Dennison

A number of institutional investors and hedge funds have recently made changes to their positions in AVY. Victory Capital Management Inc. increased its position in Avery Dennison by 6.8% in the 3rd quarter. Victory Capital Management Inc. now owns 1,416,798 shares of the industrial products company’s stock valued at $312,772,000 after acquiring an additional 90,250 shares during the period. Boston Partners grew its stake in shares of Avery Dennison by 3.6% in the 1st quarter. Boston Partners now owns 1,019,802 shares of the industrial products company’s stock valued at $227,660,000 after purchasing an additional 35,538 shares during the last quarter. Meridiem Investment Management Ltd. increased its holdings in shares of Avery Dennison by 0.7% in the third quarter. Meridiem Investment Management Ltd. now owns 794,092 shares of the industrial products company’s stock valued at $175,261,000 after purchasing an additional 5,756 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Avery Dennison by 4.3% during the second quarter. Dimensional Fund Advisors LP now owns 787,716 shares of the industrial products company’s stock worth $172,254,000 after purchasing an additional 32,467 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Avery Dennison by 2.7% during the second quarter. Bank of New York Mellon Corp now owns 646,223 shares of the industrial products company’s stock worth $141,297,000 after purchasing an additional 17,158 shares during the period. 94.17% of the stock is owned by hedge funds and other institutional investors.

Avery Dennison Trading Down 0.2 %

NYSE AVY opened at $205.05 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.92. The firm has a market cap of $16.47 billion, a price-to-earnings ratio of 24.62, a PEG ratio of 1.58 and a beta of 0.89. The firm has a 50 day simple moving average of $214.56 and a 200-day simple moving average of $218.01. Avery Dennison has a one year low of $176.78 and a one year high of $233.48.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 EPS for the quarter, beating the consensus estimate of $2.32 by $0.01. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. The company had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.20 billion. During the same quarter last year, the company posted $2.10 EPS. The firm’s revenue was up 4.1% compared to the same quarter last year. Equities research analysts anticipate that Avery Dennison will post 9.41 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be paid a $0.88 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $3.52 annualized dividend and a yield of 1.72%. Avery Dennison’s dividend payout ratio is presently 42.26%.

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.