Avery Dennison Co. (NYSE:AVY) Given Average Recommendation of “Moderate Buy” by Brokerages

Avery Dennison Co. (NYSE:AVY) has received a consensus recommendation of “Moderate Buy” from the eleven research firms that are covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $220.87.

AVY has been the topic of several research reports. Barclays cut their target price on Avery Dennison from $245.00 to $225.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Robert W. Baird set a $220.00 price target on Avery Dennison in a research note on Friday, January 31st. Truist Financial restated a “buy” rating and issued a $215.00 price objective (down from $245.00) on shares of Avery Dennison in a research note on Friday, January 31st. JPMorgan Chase & Co. upgraded Avery Dennison from a “neutral” rating to an “overweight” rating and dropped their target price for the company from $210.00 to $205.00 in a research report on Friday, January 31st. Finally, Bank of America reduced their price target on shares of Avery Dennison from $238.00 to $220.00 and set a “buy” rating for the company in a research report on Monday, January 6th.

Avery Dennison Price Performance

Shares of NYSE AVY opened at $166.12 on Tuesday. Avery Dennison has a fifty-two week low of $162.53 and a fifty-two week high of $233.48. The company has a market cap of $13.12 billion, a PE ratio of 19.05, a P/E/G ratio of 2.07 and a beta of 0.85. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08. The business has a 50-day simple moving average of $181.22 and a two-hundred day simple moving average of $194.64.

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

Avery Dennison Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date was Wednesday, March 5th. Avery Dennison’s dividend payout ratio (DPR) is presently 40.37%.

Insider Buying and Selling at Avery Dennison

In other news, Chairman Mitchell R. Butier sold 12,969 shares of the stock in a transaction dated Thursday, March 6th. The shares were 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 of the company’s stock, 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 SEC, which is available through this link. 0.84% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Avery Dennison

A number of large investors have recently bought and sold shares of AVY. Greenleaf Trust grew its position in shares of Avery Dennison by 4.4% in the fourth quarter. Greenleaf Trust now owns 1,352 shares of the industrial products company’s stock valued at $253,000 after purchasing an additional 57 shares during the period. AdvisorNet Financial Inc lifted its stake in Avery Dennison by 18.8% in the 4th quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company’s stock valued at $69,000 after buying an additional 58 shares in the last quarter. HBK Sorce Advisory LLC boosted its holdings in Avery Dennison by 0.5% in the 4th quarter. HBK Sorce Advisory LLC now owns 11,862 shares of the industrial products company’s stock worth $2,220,000 after buying an additional 58 shares during the last quarter. RMR Wealth Builders increased its stake in Avery Dennison by 5.7% during the 4th quarter. RMR Wealth Builders now owns 1,097 shares of the industrial products company’s stock worth $205,000 after buying an additional 59 shares in the last quarter. Finally, Baker Avenue Asset Management LP raised its holdings in shares of Avery Dennison by 5.7% during the fourth quarter. Baker Avenue Asset Management LP now owns 1,100 shares of the industrial products company’s stock valued at $206,000 after acquiring an additional 59 shares during the last quarter. 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.