Avery Dennison (NYSE:AVY) PT Lowered to $240.00 at Citigroup

Avery Dennison (NYSE:AVY) had its price target lowered by Citigroup from $241.00 to $240.00 in a research report released on Wednesday, Benzinga reports. The brokerage currently has a neutral rating on the industrial products company’s stock.

Other research analysts also recently issued research reports about the stock. Robert W. Baird raised their target price on shares of Avery Dennison from $230.00 to $250.00 and gave the company an outperform rating in a research report on Friday, June 7th. Stifel Nicolaus initiated coverage on shares of Avery Dennison in a research report on Tuesday, July 9th. They issued a buy rating and a $274.60 target price for the company. UBS Group downgraded shares of Avery Dennison from a buy rating to a neutral rating and decreased their target price for the company from $262.00 to $235.00 in a research report on Thursday, July 25th. Truist Financial boosted their price objective on shares of Avery Dennison from $253.00 to $258.00 and gave the stock a buy rating in a research note on Wednesday, July 24th. Finally, BMO Capital Markets reiterated an outperform rating and issued a $252.00 target price (down from $254.00) on shares of Avery Dennison in a research note on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Avery Dennison has an average rating of Moderate Buy and an average price target of $242.26.

Avery Dennison Stock Up 0.9 %

Shares of AVY stock opened at $214.59 on Wednesday. The firm has a fifty day moving average of $215.36 and a 200-day moving average of $218.98. The company has a quick ratio of 0.60, a current ratio of 0.90 and a debt-to-equity ratio of 0.89. Avery Dennison has a 12-month low of $165.21 and a 12-month high of $233.48. The company has a market capitalization of $17.29 billion, a price-to-earnings ratio of 31.33, a P/E/G ratio of 1.78 and a beta of 0.88.

Avery Dennison (NYSE:AVY) last released its earnings results on Tuesday, July 23rd. The industrial products company reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.16. The business had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.18 billion. Avery Dennison had a net margin of 7.34% and a return on equity of 33.44%. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.92 earnings per share. As a group, equities research analysts predict that Avery Dennison will post 9.41 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th were paid a dividend of $0.88 per share. The ex-dividend date was Wednesday, September 4th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.64%. Avery Dennison’s dividend payout ratio (DPR) is currently 51.39%.

Insider Buying and Selling

In other Avery Dennison news, Chairman Mitchell R. Butier sold 3,000 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $202.95, for a total transaction of $608,850.00. Following the transaction, the chairman now owns 304,114 shares in the company, valued at $61,719,936.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Chairman Mitchell R. Butier sold 3,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $202.95, for a total transaction of $608,850.00. Following the transaction, the chairman now directly owns 304,114 shares of the company’s stock, valued at approximately $61,719,936.30. This trade 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 is available through the SEC website. Also, Chairman Mitchell R. Butier sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $212.90, for a total transaction of $2,129,000.00. Following the transaction, the chairman now directly owns 304,114 shares in the company, valued at approximately $64,745,870.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 59,108 shares of company stock valued at $12,545,087. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Avery Dennison

A number of hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC increased its position in Avery Dennison by 70.8% during the third quarter. SG Americas Securities LLC now owns 55,575 shares of the industrial products company’s stock worth $12,269,000 after acquiring an additional 23,037 shares during the period. Czech National Bank grew its stake in Avery Dennison by 6.9% during the third quarter. Czech National Bank now owns 16,402 shares of the industrial products company’s stock worth $3,621,000 after buying an additional 1,052 shares in the last quarter. Mattson Financial Services LLC acquired a new stake in Avery Dennison during the second quarter worth about $1,406,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Avery Dennison during the second quarter worth about $2,165,000. Finally, Sanctuary Advisors LLC acquired a new stake in Avery Dennison during the second quarter worth about $2,710,000. 94.17% of the stock is owned by institutional investors.

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.