Brokerages Set Avery Dennison Co. (NYSE:AVY) PT at $228.50

Shares of Avery Dennison Co. (NYSE:AVY) have been given a consensus recommendation of “Moderate Buy” by the ten research firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $230.50.

Several equities analysts have recently weighed in on AVY shares. Truist Financial lifted their price target on Avery Dennison from $248.00 to $253.00 and gave the company a “buy” rating in a research report on Friday, April 26th. StockNews.com upgraded Avery Dennison from a “hold” rating to a “buy” rating in a research report on Monday, April 22nd. Robert W. Baird raised their price objective on shares of Avery Dennison from $230.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday. Citigroup upped their target price on shares of Avery Dennison from $223.00 to $234.00 and gave the stock a “neutral” rating in a report on Thursday, April 4th. Finally, Argus raised their price target on shares of Avery Dennison from $240.00 to $245.00 and gave the company a “buy” rating in a report on Wednesday, May 8th.

Avery Dennison Price Performance

Shares of NYSE:AVY opened at $226.29 on Wednesday. The company has a market capitalization of $18.23 billion, a P/E ratio of 33.04, a price-to-earnings-growth ratio of 2.08 and a beta of 0.91. The company’s 50-day moving average is $220.99 and its 200 day moving average is $210.11. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.58 and a current ratio of 0.87. Avery Dennison has a fifty-two week low of $162.32 and a fifty-two week high of $229.98.

Avery Dennison (NYSE:AVY) last released its earnings results on Wednesday, April 24th. The industrial products company reported $2.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.14. The business had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.15 billion. Avery Dennison had a return on equity of 32.59% and a net margin of 6.56%. On average, equities research analysts forecast that Avery Dennison will post 9.32 earnings per share for the current year.

Avery Dennison Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Wednesday, June 5th will be given a dividend of $0.88 per share. This is a boost from Avery Dennison’s previous quarterly dividend of $0.81. This represents a $3.52 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Wednesday, June 5th. Avery Dennison’s dividend payout ratio (DPR) is 51.39%.

Insider Transactions at Avery Dennison

In other news, insider Ryan D. Yost sold 584 shares of Avery Dennison stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $221.31, for a total transaction of $129,245.04. Following the transaction, the insider now owns 2,259 shares in the company, valued at approximately $499,939.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Ryan D. Yost sold 584 shares of the business’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $221.31, for a total value of $129,245.04. Following the transaction, the insider now directly owns 2,259 shares in the company, valued at $499,939.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Deena Baker-Nel sold 3,000 shares of the company’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $228.17, for a total transaction of $684,510.00. Following the transaction, the senior vice president now owns 1,577 shares of the company’s stock, valued at approximately $359,824.09. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,377 shares of company stock worth $2,356,252. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Avery Dennison

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AVY. Taylor Frigon Capital Management LLC raised its holdings in shares of Avery Dennison by 0.8% during the 1st quarter. Taylor Frigon Capital Management LLC now owns 6,386 shares of the industrial products company’s stock worth $1,426,000 after acquiring an additional 48 shares in the last quarter. Albert D Mason Inc. grew its stake in shares of Avery Dennison by 0.7% in the 1st quarter. Albert D Mason Inc. now owns 7,456 shares of the industrial products company’s stock worth $1,665,000 after buying an additional 51 shares in the last quarter. Alliance Wealth Advisors LLC UT raised its position in shares of Avery Dennison by 1.5% during the 4th quarter. Alliance Wealth Advisors LLC UT now owns 3,840 shares of the industrial products company’s stock valued at $776,000 after buying an additional 56 shares in the last quarter. First Trust Direct Indexing L.P. lifted its holdings in shares of 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 valued at $242,000 after acquiring an additional 57 shares during the last quarter. Finally, New York Life Investment Management LLC grew its position in Avery Dennison by 0.5% in the third quarter. New York Life Investment Management LLC now owns 11,454 shares of the industrial products company’s stock worth $2,092,000 after acquiring an additional 58 shares in the last quarter. 94.17% of the stock is owned by institutional investors.

Avery Dennison Company Profile

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.