Brokerages Set Avery Dennison Co. (NYSE:AVY) Price Target at $239.96

Avery Dennison Co. (NYSE:AVY) has been given a consensus rating of “Moderate Buy” by the eleven analysts that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $239.96.

AVY has been the topic of several research analyst reports. BMO Capital Markets dropped their target price on shares of Avery Dennison from $256.00 to $254.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. Stifel Nicolaus assumed coverage on Avery Dennison in a research report on Tuesday, July 9th. They issued a “buy” rating and a $274.60 target price on the stock. Citigroup lifted their price target on Avery Dennison from $230.00 to $241.00 and gave the stock a “neutral” rating in a research report on Monday, July 8th. UBS Group downgraded Avery Dennison from a “buy” rating to a “neutral” rating and dropped their price target for the company from $262.00 to $235.00 in a research note on Thursday, July 25th. Finally, Robert W. Baird raised their price objective on Avery Dennison from $230.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, June 7th.

Avery Dennison Trading Up 0.4 %

AVY opened at $219.42 on Friday. Avery Dennison has a 12 month low of $165.21 and a 12 month high of $233.48. The stock has a fifty day moving average price of $215.66 and a 200-day moving average price of $218.87. The firm has a market cap of $17.67 billion, a price-to-earnings ratio of 32.03, a PEG ratio of 1.81 and a beta of 0.88. The company has a current ratio of 0.90, a quick ratio of 0.60 and a debt-to-equity ratio of 0.89.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.42 EPS for the quarter, topping the consensus estimate of $2.26 by $0.16. The firm had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.18 billion. Avery Dennison had a net margin of 7.34% and a return on equity of 33.44%. Avery Dennison’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.92 EPS. As a group, equities research analysts anticipate that Avery Dennison will post 9.41 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th will be given a $0.88 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $3.52 annualized dividend and a dividend yield of 1.60%. Avery Dennison’s dividend payout ratio (DPR) is 51.39%.

Insider Activity at Avery Dennison

In other news, Chairman Mitchell R. Butier sold 10,000 shares of Avery Dennison stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $213.75, for a total value of $2,137,500.00. Following the sale, the chairman now directly owns 304,114 shares of the company’s stock, valued at $65,004,367.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Avery Dennison news, Chairman Mitchell R. Butier sold 3,000 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $205.76, for a total value of $617,280.00. Following the completion of the sale, the chairman now owns 304,114 shares in the company, valued at approximately $62,574,496.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Mitchell R. Butier sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $213.75, for a total value of $2,137,500.00. Following the transaction, the chairman now owns 304,114 shares in the company, valued at $65,004,367.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,108 shares of company stock valued at $12,545,087. 1.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Sanctuary Advisors LLC purchased a new stake in shares of Avery Dennison during the 2nd quarter valued at approximately $2,710,000. Brown Financial Advisors purchased a new position in Avery Dennison in the second quarter worth approximately $851,000. EP Wealth Advisors LLC increased its stake in Avery Dennison by 21.5% during the second quarter. EP Wealth Advisors LLC now owns 1,134 shares of the industrial products company’s stock worth $248,000 after acquiring an additional 201 shares during the last quarter. Quarry LP raised its position in Avery Dennison by 1,814.3% in the second quarter. Quarry LP now owns 536 shares of the industrial products company’s stock valued at $117,000 after purchasing an additional 508 shares during the period. Finally, Coastal Bridge Advisors LLC acquired a new position in shares of Avery Dennison in the 2nd quarter valued at $269,000. 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.