Avery Dennison Co. (NYSE:AVY) Receives $230.50 Average Target Price from Analysts

Shares of Avery Dennison Co. (NYSE:AVY) have earned a consensus rating of “Moderate Buy” from the ten brokerages that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $230.50.

A number of equities research analysts have recently commented on AVY shares. Raymond James reiterated an “outperform” rating and issued a $240.00 target price (up from $225.00) on shares of Avery Dennison in a research report on Thursday, April 25th. Robert W. Baird upped their price target on Avery Dennison from $230.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, June 7th. JPMorgan Chase & Co. boosted their price objective on shares of Avery Dennison from $218.00 to $220.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Truist Financial increased their target price on shares of Avery Dennison from $248.00 to $253.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Finally, Citigroup upped their price objective on shares of Avery Dennison from $223.00 to $234.00 and gave the stock a “neutral” rating in a report on Thursday, April 4th.

Insider Activity

In other Avery Dennison news, CFO Gregory Lovins sold 2,894 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $227.20, for a total transaction of $657,516.80. Following the completion of the sale, the chief financial officer now directly owns 67,457 shares of the company’s stock, valued at approximately $15,326,230.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, SVP Ignacio J. Walker sold 2,206 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $226.70, for a total transaction of $500,100.20. Following the completion of the transaction, the senior vice president now directly owns 7,082 shares of the company’s stock, valued at approximately $1,605,489.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Gregory Lovins sold 2,894 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $227.20, for a total value of $657,516.80. Following the completion of the sale, the chief financial officer now directly owns 67,457 shares of the company’s stock, valued at $15,326,230.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,583 shares of company stock valued at $2,856,353. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Avery Dennison

A number of hedge funds and other institutional investors have recently bought and sold shares of AVY. Anchor Investment Management LLC acquired a new stake in shares of Avery Dennison in the fourth quarter valued at about $42,000. VisionPoint Advisory Group LLC acquired a new stake in shares of Avery Dennison in the 4th quarter worth approximately $42,000. Livforsakringsbolaget Skandia Omsesidigt increased its stake in Avery Dennison by 164.4% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 267 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 166 shares in the last quarter. Palisade Asset Management LLC acquired a new position in Avery Dennison during the first quarter worth $64,000. Finally, Parkside Financial Bank & Trust boosted its position in Avery Dennison by 250.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 403 shares of the industrial products company’s stock worth $81,000 after purchasing an additional 288 shares in the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.

Avery Dennison Price Performance

NYSE:AVY opened at $215.15 on Friday. The stock has a market capitalization of $17.33 billion, a PE ratio of 31.41, a price-to-earnings-growth ratio of 2.01 and a beta of 0.88. The stock’s 50-day moving average price is $224.25 and its 200-day moving average price is $213.85. The company has a quick ratio of 0.58, a current ratio of 0.87 and a debt-to-equity ratio of 0.94. Avery Dennison has a 52 week low of $165.21 and a 52 week high of $231.53.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings data on Wednesday, April 24th. The industrial products company reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.14. The business had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.15 billion. Avery Dennison had a net margin of 6.56% and a return on equity of 32.59%. As a group, equities analysts expect that Avery Dennison will post 9.32 EPS for the current fiscal year.

Avery Dennison Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Wednesday, June 5th were given a dividend of $0.88 per share. This is an increase from Avery Dennison’s previous quarterly dividend of $0.81. This represents a $3.52 annualized dividend and a yield of 1.64%. The ex-dividend date was Wednesday, June 5th. Avery Dennison’s dividend payout ratio (DPR) is presently 51.39%.

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.