Avery Dennison (NYSE:AVY) PT Raised to $253.00

Avery Dennison (NYSE:AVY) had its price objective boosted by Truist Financial from $248.00 to $253.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

A number of other equities research analysts have also issued reports on AVY. Raymond James restated an outperform rating and issued a $240.00 target price (up previously from $225.00) on shares of Avery Dennison in a research note on Thursday. UBS Group increased their target price on Avery Dennison from $225.00 to $230.00 and gave the stock a buy rating in a report on Thursday, January 11th. StockNews.com upgraded Avery Dennison from a hold rating to a buy rating in a report on Monday, April 22nd. Citigroup raised their price objective on Avery Dennison from $223.00 to $234.00 and gave the stock a neutral rating in a research note on Thursday, April 4th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Avery Dennison from $218.00 to $220.00 and gave the company an overweight rating in a research note on Thursday. One research 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. According to data from MarketBeat.com, Avery Dennison has an average rating of Moderate Buy and a consensus price target of $224.00.

Avery Dennison Trading Up 0.9 %

NYSE AVY opened at $219.02 on Friday. The company’s fifty day simple moving average is $215.71 and its 200-day simple moving average is $200.36. Avery Dennison has a 52 week low of $158.93 and a 52 week high of $225.26. The company has a current ratio of 0.87, a quick ratio of 0.69 and a debt-to-equity ratio of 0.94. The stock has a market cap of $17.64 billion, a P/E ratio of 31.97, a PEG ratio of 3.35 and a beta of 0.90.

Avery Dennison (NYSE:AVY) last posted its earnings results on Wednesday, January 31st. The industrial products company reported $2.16 EPS for the quarter, hitting analysts’ consensus estimates of $2.16. The business had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.10 billion. Avery Dennison had a net margin of 6.56% and a return on equity of 32.59%. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.65 earnings per share. Equities research analysts predict that Avery Dennison will post 9.26 EPS for the current fiscal year.

Avery Dennison Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Wednesday, June 5th will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.61%. This is a boost from Avery Dennison’s previous quarterly dividend of $0.81. The ex-dividend date is Wednesday, June 5th. Avery Dennison’s dividend payout ratio (DPR) is presently 47.30%.

Insider Activity

In other Avery Dennison news, Director Julia A. Stewart sold 5,311 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $202.26, for a total transaction of $1,074,202.86. Following the completion of the transaction, the director now directly owns 5,018 shares of the company’s stock, valued at approximately $1,014,940.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Avery Dennison news, Director Julia A. Stewart sold 5,311 shares of Avery Dennison stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $202.26, for a total transaction of $1,074,202.86. Following the sale, the director now owns 5,018 shares of the company’s stock, valued at approximately $1,014,940.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Ignacio J. Walker sold 5,000 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $213.90, for a total value of $1,069,500.00. Following the completion of the transaction, the senior vice president now directly owns 6,102 shares of the company’s stock, valued at approximately $1,305,217.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,879 shares of company stock valued at $4,217,705. 1.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Avery Dennison

Several large investors have recently bought and sold shares of the stock. AEGON ASSET MANAGEMENT UK Plc bought a new position in shares of Avery Dennison in the fourth quarter valued at approximately $2,715,000. Mutual of America Capital Management LLC boosted its stake in Avery Dennison by 133.4% during the 4th quarter. Mutual of America Capital Management LLC now owns 26,318 shares of the industrial products company’s stock valued at $5,320,000 after purchasing an additional 15,040 shares in the last quarter. Cerity Partners LLC boosted its stake in Avery Dennison by 4,159.9% during the 4th quarter. Cerity Partners LLC now owns 1,191,228 shares of the industrial products company’s stock valued at $240,819,000 after purchasing an additional 1,163,264 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Avery Dennison by 192.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 10,713 shares of the industrial products company’s stock valued at $2,166,000 after purchasing an additional 7,047 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in Avery Dennison by 736.1% during the 3rd quarter. Janney Montgomery Scott LLC now owns 142,766 shares of the industrial products company’s stock valued at $26,080,000 after purchasing an additional 125,691 shares in the last quarter. 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.