Avery Dennison Co. (NYSE:AVY) Receives $222.51 Average Target Price from Analysts

Shares of Avery Dennison Co. (NYSE:AVY) have received a consensus rating of “Moderate Buy” from the eleven analysts that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $222.51.

Several equities research analysts have recently weighed in on the company. Robert W. Baird set a $220.00 target price on Avery Dennison in a research report on Friday, January 31st. Bank of America cut their price objective on shares of Avery Dennison from $238.00 to $220.00 and set a “buy” rating on the stock in a report on Monday, January 6th. JPMorgan Chase & Co. upgraded shares of Avery Dennison from a “neutral” rating to an “overweight” rating and lowered their target price for the company from $210.00 to $205.00 in a report on Friday, January 31st. Truist Financial reiterated a “buy” rating and set a $215.00 price target (down from $245.00) on shares of Avery Dennison in a research note on Friday, January 31st. Finally, Barclays decreased their price objective on shares of Avery Dennison from $245.00 to $225.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd.

Insider Buying and Selling

In other Avery Dennison news, Chairman Mitchell R. Butier sold 12,969 shares of Avery Dennison stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $181.85, for a total value of $2,358,412.65. Following the sale, the chairman now owns 303,331 shares of the company’s stock, valued at approximately $55,160,742.35. The trade was a 4.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.84% of the stock is currently owned by corporate insiders.

Institutional Trading of Avery Dennison

A number of institutional investors have recently modified their holdings of the business. Norges Bank purchased a new position in Avery Dennison in the fourth quarter worth $188,643,000. Raymond James Financial Inc. purchased a new position in shares of Avery Dennison in the 4th quarter valued at about $51,521,000. Ameriprise Financial Inc. lifted its stake in shares of Avery Dennison by 12.9% in the fourth quarter. Ameriprise Financial Inc. now owns 2,185,732 shares of the industrial products company’s stock valued at $409,014,000 after purchasing an additional 250,359 shares during the period. Capital World Investors purchased a new stake in Avery Dennison during the fourth quarter worth about $40,354,000. Finally, Deutsche Bank AG grew its position in Avery Dennison by 81.3% during the fourth quarter. Deutsche Bank AG now owns 465,479 shares of the industrial products company’s stock worth $87,105,000 after buying an additional 208,678 shares during the period. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Avery Dennison Stock Down 2.3 %

Shares of Avery Dennison stock opened at $176.44 on Tuesday. Avery Dennison has a 52-week low of $173.02 and a 52-week high of $233.48. The company has a 50 day moving average of $182.24 and a 200 day moving average of $195.62. The company has a market capitalization of $13.93 billion, a P/E ratio of 20.23, a P/E/G ratio of 2.07 and a beta of 0.85. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10.

Avery Dennison (NYSE:AVY) last issued its earnings results on Thursday, January 30th. The industrial products company reported $2.38 EPS for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.01). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. As a group, research analysts forecast that Avery Dennison will post 9.96 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were issued a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 2.00%. The ex-dividend date was Wednesday, March 5th. Avery Dennison’s payout ratio is 40.37%.

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.