Brokerages Set Avery Dennison Co. (NYSE:AVY) Target Price at $221.00

Shares of Avery Dennison Co. (NYSE:AVY) have been assigned a consensus recommendation of “Moderate Buy” from the nine research firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $221.00.

A number of research firms have recently weighed in on AVY. Bank of America downgraded shares of Avery Dennison from a “buy” rating to an “underperform” rating and set a $208.00 price target on the stock. in a research note on Tuesday, January 2nd. Truist Financial reissued a “buy” rating and set a $249.00 price objective on shares of Avery Dennison in a report on Friday, January 19th. Raymond James lifted their price target on Avery Dennison from $199.00 to $225.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. UBS Group raised their price target on shares of Avery Dennison from $225.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. Finally, StockNews.com downgraded Avery Dennison from a “buy” rating to a “hold” rating in a report on Wednesday, March 27th.

Avery Dennison Price Performance

NYSE:AVY opened at $209.35 on Tuesday. The company has a market cap of $16.86 billion, a P/E ratio of 33.71, a P/E/G ratio of 3.25 and a beta of 0.90. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.04 and a quick ratio of 0.69. The firm’s fifty day moving average price is $214.84 and its two-hundred day moving average price is $199.06. Avery Dennison has a one year low of $158.93 and a one year high of $225.26.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.16. The firm had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.10 billion. Avery Dennison had a net margin of 6.01% and a return on equity of 30.97%. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period last year, the business posted $1.65 earnings per share. Equities analysts expect that Avery Dennison will post 9.28 earnings per share for the current year.

Avery Dennison Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were issued a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date was Tuesday, March 5th. Avery Dennison’s payout ratio is 52.17%.

Insider Activity

In related news, Chairman Mitchell R. Butier sold 8,168 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $217.36, for a total value of $1,775,396.48. Following the completion of the sale, the chairman now directly owns 321,487 shares of the company’s stock, valued at approximately $69,878,414.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Ryan D. Yost sold 1,400 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $213.29, for a total transaction of $298,606.00. Following the completion of the sale, the insider now directly owns 2,843 shares of the company’s stock, valued at $606,383.47. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Mitchell R. Butier sold 8,168 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $217.36, for a total value of $1,775,396.48. Following the completion of the transaction, the chairman now owns 321,487 shares in the company, valued at approximately $69,878,414.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,879 shares of company stock worth $4,217,705. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Avery Dennison

Large investors have recently bought and sold shares of the stock. Moneta Group Investment Advisors LLC lifted its position in shares of Avery Dennison by 102,432.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 1,947,083 shares of the industrial products company’s stock valued at $352,422,000 after purchasing an additional 1,945,184 shares in the last quarter. Cerity Partners LLC boosted its position in Avery Dennison by 4,159.9% in the fourth quarter. Cerity Partners LLC now owns 1,191,228 shares of the industrial products company’s stock worth $240,819,000 after purchasing an additional 1,163,264 shares during the last quarter. Norges Bank purchased a new stake in shares of Avery Dennison during the 4th quarter valued at $185,292,000. Morgan Stanley boosted its holdings in shares of Avery Dennison by 55.7% in the 3rd quarter. Morgan Stanley now owns 1,788,321 shares of the industrial products company’s stock worth $326,673,000 after buying an additional 639,521 shares during the last quarter. Finally, Lazard Asset Management LLC increased its holdings in Avery Dennison by 48.0% during the first quarter. Lazard Asset Management LLC now owns 1,748,006 shares of the industrial products company’s stock worth $304,099,000 after buying an additional 566,938 shares during the last quarter. 94.17% of the stock is currently owned by institutional investors.

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.