Avery Dennison Co. (NYSE:AVY) Receives $222.51 Consensus Price Target from Analysts

Shares of Avery Dennison Co. (NYSE:AVY) have been assigned an average recommendation of “Moderate Buy” from the eleven brokerages that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $222.51.

Several equities analysts recently issued reports on the company. Barclays lowered their price target on Avery Dennison from $245.00 to $225.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Robert W. Baird set a $220.00 price objective on Avery Dennison in a research note on Friday, January 31st. UBS Group lowered their price objective on Avery Dennison from $235.00 to $207.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. BMO Capital Markets set a $226.00 price objective on Avery Dennison in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. upgraded Avery Dennison from a “neutral” rating to an “overweight” rating and lowered their price objective for the company from $210.00 to $205.00 in a research note on Friday, January 31st.

Avery Dennison Trading Down 3.4 %

Shares of AVY opened at $180.23 on Friday. Avery Dennison has a 12-month low of $178.72 and a 12-month high of $233.48. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10. The firm has a market capitalization of $14.24 billion, a price-to-earnings ratio of 20.67, a P/E/G ratio of 2.07 and a beta of 0.85. The stock’s 50-day moving average price is $185.97 and its 200 day moving average price is $200.24.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.39 by ($0.01). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. As a group, research analysts predict that Avery Dennison will post 9.96 earnings per share for the current year.

Avery Dennison Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $3.52 dividend on an annualized basis and a yield of 1.95%. Avery Dennison’s dividend payout ratio (DPR) is presently 40.37%.

Insider Buying and Selling

In related news, Chairman Mitchell R. Butier sold 12,969 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $181.85, for a total transaction of $2,358,412.65. Following the sale, the chairman now directly owns 303,331 shares in the company, valued at $55,160,742.35. This represents a 4.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Nordea Investment Management AB lifted its holdings in Avery Dennison by 485.2% during the 4th quarter. Nordea Investment Management AB now owns 35,630 shares of the industrial products company’s stock worth $6,715,000 after buying an additional 29,541 shares in the last quarter. Victory Capital Management Inc. lifted its holdings 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 in the last quarter. Icon Wealth Advisors LLC lifted its stake in shares of Avery Dennison by 553.5% in the 3rd quarter. Icon Wealth Advisors LLC now owns 3,137 shares of the industrial products company’s stock valued at $693,000 after purchasing an additional 2,657 shares during the period. Meyer Handelman Co. acquired a new position in shares of Avery Dennison in the 4th quarter valued at $4,263,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of Avery Dennison by 12.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 420,232 shares of the industrial products company’s stock valued at $92,771,000 after purchasing an additional 46,390 shares during the period. Institutional investors and hedge funds own 94.17% of the company’s stock.

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.