Recent Investment Analysts’ Ratings Changes for Avery Dennison (AVY)

Avery Dennison (NYSE: AVY) recently received a number of ratings updates from brokerages and research firms:

• 4/26/2024 – Avery Dennison had its price target raised by analysts at Truist Financial Co. from $248.00 to $253.00. They now have a “buy” rating on the stock.
• 4/25/2024 – Avery Dennison had its price target raised by analysts at JPMorgan Chase & Co. from $218.00 to $220.00. They now have an “overweight” rating on the stock.
• 4/25/2024 – Avery Dennison had its “outperform” rating reaffirmed by analysts at Raymond James. They now have a $240.00 price target on the stock, up previously from $225.00.
• 4/25/2024 – Avery Dennison had its price target raised by analysts at Robert W. Baird from $215.00 to $230.00. They now have an “outperform” rating on the stock.
• 4/22/2024 – Avery Dennison was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 4/4/2024 – Avery Dennison had its price target raised by analysts at Citigroup Inc. from $223.00 to $234.00. They now have a “neutral” rating on the stock.
• 3/27/2024 – Avery Dennison was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.

Avery Dennison Price Performance

NYSE AVY traded up $1.72 on Thursday, hitting $219.55. 144,284 shares of the company’s stock were exchanged, compared to its average volume of 444,600. Avery Dennison Co. has a 52 week low of $158.93 and a 52 week high of $225.26. The stock has a 50-day moving average of $216.19 and a 200-day moving average of $201.18. The company has a current ratio of 0.87, a quick ratio of 0.58 and a debt-to-equity ratio of 0.94. The stock has a market cap of $17.68 billion, a price-to-earnings ratio of 32.05, a P/E/G ratio of 3.35 and a beta of 0.91.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $2.16 earnings per share for the quarter, hitting the consensus estimate of $2.16. Avery Dennison had a return on equity of 32.59% and a net margin of 6.56%. The business had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.10 billion. During the same period in the prior year, the company earned $1.65 EPS. Avery Dennison’s revenue for the quarter was up 4.2% on a year-over-year basis. Analysts expect that Avery Dennison Co. will post 9.27 earnings per share for the current year.

Avery Dennison Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Wednesday, June 5th will be issued a $0.88 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.60%. This is a boost from Avery Dennison’s previous quarterly dividend of $0.81. Avery Dennison’s dividend payout ratio is 47.30%.

Insider Activity

In related news, insider Ryan D. Yost sold 1,400 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $213.29, for a total transaction of $298,606.00. Following the completion of the transaction, the insider now directly owns 2,843 shares in the company, valued at approximately $606,383.47. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Chairman Mitchell R. Butier sold 8,168 shares of Avery Dennison stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $217.36, for a total transaction of $1,775,396.48. Following the sale, the chairman now directly owns 321,487 shares of the company’s stock, valued at $69,878,414.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ryan D. Yost sold 1,400 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were 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. In the last three months, insiders have sold 19,879 shares of company stock worth $4,217,705. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Avery Dennison

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Avery Dennison in the third quarter worth $32,000. Milestone Investment Advisors LLC bought a new stake in shares of Avery Dennison in the 3rd quarter valued at about $36,000. Anchor Investment Management LLC acquired a new stake in shares of Avery Dennison in the fourth quarter valued at about $42,000. VisionPoint Advisory Group LLC bought a new position in shares of Avery Dennison during the fourth quarter worth about $42,000. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of Avery Dennison by 164.4% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 267 shares of the industrial products company’s stock worth $54,000 after acquiring an additional 166 shares during the period. 94.17% of the stock is currently owned by institutional investors and hedge funds.

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.