Avery Dennison (NYSE:AVY) Given New $230.00 Price Target at Robert W. Baird

Avery Dennison (NYSE:AVY) had its target price hoisted by Robert W. Baird from $215.00 to $230.00 in a report released on Thursday morning, Benzinga reports. The firm currently has an outperform rating on the industrial products company’s stock.

Several other research analysts have also recently issued reports on AVY. Truist Financial restated a buy rating and issued a $249.00 price objective on shares of Avery Dennison in a research note on Friday, January 19th. Citigroup lifted their price objective on shares of Avery Dennison from $223.00 to $234.00 and gave the company a neutral rating in a research note on Thursday, April 4th. UBS Group increased their price objective on shares of Avery Dennison from $225.00 to $230.00 and gave the stock a buy rating in a research note on Thursday, January 11th. Raymond James boosted their target price on shares of Avery Dennison from $199.00 to $225.00 and gave the company an outperform rating in a research report on Thursday, January 25th. Finally, Bank of America lowered shares of Avery Dennison from a buy rating to an underperform rating and set a $208.00 price target on the stock. in a report on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Avery Dennison has a consensus rating of Moderate Buy and a consensus price target of $224.00.

Avery Dennison Stock Up 0.9 %

NYSE:AVY opened at $219.03 on Thursday. The company has a current ratio of 0.87, a quick ratio of 0.69 and a debt-to-equity ratio of 0.94. Avery Dennison has a twelve month low of $158.93 and a twelve month high of $225.26. The company has a market cap of $17.64 billion, a PE ratio of 31.98, a P/E/G ratio of 3.35 and a beta of 0.90. The company’s 50 day moving average is $215.71 and its two-hundred day moving average is $200.48.

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, meeting analysts’ consensus estimates of $2.16. The firm had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.10 billion. Avery Dennison had a net margin of 6.56% and a return on equity of 32.59%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.65 earnings per share. Analysts anticipate that Avery Dennison will post 9.26 EPS 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 paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend is Wednesday, June 5th. This is a positive change from Avery Dennison’s previous quarterly dividend of $0.81. Avery Dennison’s payout ratio is currently 47.30%.

Insiders Place Their Bets

In other news, Director Julia A. Stewart sold 5,311 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $202.26, for a total value of $1,074,202.86. Following the completion of the sale, the director now directly owns 5,018 shares in the company, valued at $1,014,940.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Ryan D. Yost sold 1,400 shares of Avery Dennison 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 sale, the insider now directly owns 2,843 shares in the company, valued at approximately $606,383.47. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Julia A. Stewart sold 5,311 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $202.26, for a total value of $1,074,202.86. Following the transaction, the director now directly owns 5,018 shares of the company’s stock, valued at approximately $1,014,940.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,879 shares of company stock worth $4,217,705. 1.10% of the stock is owned by corporate insiders.

Institutional Trading of Avery Dennison

Large investors have recently made changes to their positions in the company. Ameriprise Financial Inc. boosted its stake in Avery Dennison by 22.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,670,469 shares of the industrial products company’s stock worth $487,857,000 after purchasing an additional 493,857 shares during the last quarter. Morgan Stanley lifted its stake in shares of Avery Dennison by 55.7% in the third quarter. Morgan Stanley now owns 1,788,321 shares of the industrial products company’s stock worth $326,673,000 after buying an additional 639,521 shares in the last quarter. Cerity Partners LLC boosted its position in Avery Dennison by 4,159.9% during the fourth quarter. Cerity Partners LLC now owns 1,191,228 shares of the industrial products company’s stock worth $240,819,000 after acquiring an additional 1,163,264 shares during the last quarter. Truist Financial Corp grew its stake in Avery Dennison by 5.5% during the 3rd quarter. Truist Financial Corp now owns 1,096,524 shares of the industrial products company’s stock valued at $200,302,000 after acquiring an additional 57,106 shares in the last quarter. Finally, Boston Partners raised its holdings in Avery Dennison by 43.9% in the 3rd quarter. Boston Partners now owns 1,007,542 shares of the industrial products company’s stock valued at $184,026,000 after acquiring an additional 307,325 shares during the last quarter. 94.17% of the stock is currently owned by hedge funds and other 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.