Brokerages Set Avery Dennison Co. (NYSE:AVY) Price Target at $244.96

Shares of Avery Dennison Co. (NYSE:AVY) have been given an average recommendation of “Moderate Buy” by the eleven analysts that are covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $244.96.

Several analysts recently weighed in on AVY shares. StockNews.com cut Avery Dennison from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Bank of America raised Avery Dennison from an “underperform” rating to a “buy” rating and lifted their price objective for the company from $207.00 to $250.00 in a report on Thursday, October 17th. JPMorgan Chase & Co. cut Avery Dennison from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $230.00 to $210.00 in a report on Thursday, October 24th. Barclays dropped their price objective on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating for the company in a report on Monday, October 28th. Finally, Citigroup dropped their price objective on Avery Dennison from $241.00 to $240.00 and set a “neutral” rating for the company in a report on Wednesday, October 2nd.

Avery Dennison Stock Performance

NYSE:AVY opened at $204.12 on Friday. The stock has a market cap of $16.40 billion, a P/E ratio of 24.50, a PEG ratio of 1.58 and a beta of 0.89. The stock has a 50 day simple moving average of $215.16 and a 200 day simple moving average of $218.14. The company has a current ratio of 0.92, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85. Avery Dennison has a 1-year low of $176.75 and a 1-year high of $233.48.

Avery Dennison (NYSE:AVY) last released its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.01. The business had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.20 billion. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period last year, the firm posted $2.10 EPS. Research analysts anticipate that Avery Dennison will post 9.41 earnings per share for the current year.

Avery Dennison Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend is Wednesday, December 4th. Avery Dennison’s payout ratio is presently 42.26%.

Insiders Place Their Bets

In other Avery Dennison news, Chairman Mitchell R. Butier sold 3,000 shares of Avery Dennison stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $206.80, for a total transaction of $620,400.00. Following the transaction, the chairman now directly owns 304,114 shares of the company’s stock, valued at approximately $62,890,775.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Chairman Mitchell R. Butier sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $211.91, for a total transaction of $2,119,100.00. Following the transaction, the chairman now directly owns 304,114 shares of the company’s stock, valued at approximately $64,444,797.74. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Mitchell R. Butier sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $206.80, for a total value of $620,400.00. Following the transaction, the chairman now directly owns 304,114 shares in the company, valued at approximately $62,890,775.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,108 shares of company stock valued at $9,181,457. 1.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its stake in Avery Dennison by 6.8% during the 3rd quarter. Victory Capital Management Inc. now owns 1,416,798 shares of the industrial products company’s stock worth $312,772,000 after buying an additional 90,250 shares during the period. Boston Partners raised its stake in Avery Dennison by 3.6% during the 1st quarter. Boston Partners now owns 1,019,802 shares of the industrial products company’s stock worth $227,660,000 after buying an additional 35,538 shares during the period. Meridiem Investment Management Ltd. raised its stake in Avery Dennison by 0.7% during the 3rd quarter. Meridiem Investment Management Ltd. now owns 794,092 shares of the industrial products company’s stock worth $175,261,000 after buying an additional 5,756 shares during the period. Dimensional Fund Advisors LP raised its stake in Avery Dennison by 4.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 787,716 shares of the industrial products company’s stock worth $172,254,000 after buying an additional 32,467 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Avery Dennison by 2.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 646,223 shares of the industrial products company’s stock worth $141,297,000 after buying an additional 17,158 shares during the period. 94.17% of the stock is owned by institutional investors and hedge funds.

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.