Avery Dennison (NYSE:AVY) Now Covered by Jefferies Financial Group

Jefferies Financial Group assumed coverage on shares of Avery Dennison (NYSE:AVY) in a research report report published on Tuesday morning, MarketBeat.com reports. The brokerage issued a hold rating and a $175.00 target price on the industrial products company’s stock.

Other research analysts have also recently issued reports about the company. Truist Financial reiterated a “buy” rating and issued a $215.00 price target (down from $245.00) on shares of Avery Dennison in a research note on Friday, January 31st. Raymond James reiterated an “outperform” rating and issued a $208.00 target price (down from $218.00) on shares of Avery Dennison in a research report on Friday, January 31st. JPMorgan Chase & Co. upgraded Avery Dennison from a “neutral” rating to an “overweight” rating and reduced their price target for the stock from $210.00 to $205.00 in a report on Friday, January 31st. BMO Capital Markets set a $226.00 price objective on shares of Avery Dennison in a report on Monday, February 3rd. Finally, Bank of America reduced their target price 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. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $215.47.

Avery Dennison Price Performance

Shares of AVY stock opened at $175.21 on Tuesday. The business has a fifty day simple moving average of $177.15 and a 200 day simple moving average of $190.52. The company has a market cap of $13.76 billion, a P/E ratio of 20.09, 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 has a twelve month low of $157.00 and a twelve month high of $233.48.

Avery Dennison (NYSE:AVY) last posted 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%. On average, sell-side 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. Investors of record on Wednesday, March 5th were paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date was Wednesday, March 5th. Avery Dennison’s dividend payout ratio is presently 40.37%.

Insider Activity at Avery Dennison

In other news, Chairman Mitchell R. Butier sold 8,068 shares of Avery Dennison stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $186.19, for a total value of $1,502,180.92. Following the completion of the transaction, the chairman now directly owns 316,300 shares of the company’s stock, valued at approximately $58,891,897. This trade represents a 2.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.84% of the stock is owned by company insiders.

Institutional Investors Weigh In On Avery Dennison

Large investors have recently added to or reduced their stakes in the business. Regents Gate Capital LLP acquired a new position in Avery Dennison in the fourth quarter valued at approximately $37,000. American National Bank & Trust bought a new stake in shares of Avery Dennison in the 1st quarter valued at $49,000. Spire Wealth Management lifted its position in shares of Avery Dennison by 76.0% during the 4th quarter. Spire Wealth Management now owns 301 shares of the industrial products company’s stock valued at $56,000 after acquiring an additional 130 shares during the period. AdvisorNet Financial Inc boosted its stake in Avery Dennison by 18.8% during the fourth quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company’s stock worth $69,000 after acquiring an additional 58 shares in the last quarter. Finally, VisionPoint Advisory Group LLC acquired a new stake in Avery Dennison in the fourth quarter worth $68,000. Institutional investors and hedge funds own 94.17% of the company’s stock.

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.