Brokerages Set Avery Dennison Co. (NYSE:AVY) PT at $242.96

Avery Dennison Co. (NYSE:AVY) has been assigned a consensus recommendation of “Moderate Buy” from the eleven brokerages that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $242.96.

AVY has been the topic of several recent analyst reports. Citigroup lowered their target price on shares of Avery Dennison from $241.00 to $240.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 2nd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $252.00 target price (down from $254.00) on shares of Avery Dennison in a research note on Thursday, September 19th. Stifel Nicolaus assumed coverage on Avery Dennison in a research note on Tuesday, July 9th. They set a “buy” rating and a $274.60 price target on the stock. Truist Financial upped their price objective on shares of Avery Dennison from $253.00 to $258.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, UBS Group lowered shares of Avery Dennison from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $262.00 to $235.00 in a research report on Thursday, July 25th.

Insider Transactions at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 3,000 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $202.95, for a total value of $608,850.00. Following the completion of the sale, the chairman now directly owns 304,114 shares in the company, valued at $61,719,936.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Chairman Mitchell R. Butier sold 3,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $202.95, for a total transaction of $608,850.00. Following the transaction, the chairman now directly owns 304,114 shares of the company’s stock, valued at approximately $61,719,936.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Mitchell R. Butier sold 10,000 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $212.90, for a total value of $2,129,000.00. Following the completion of the transaction, the chairman now directly owns 304,114 shares of the company’s stock, valued at approximately $64,745,870.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 59,108 shares of company stock worth $12,545,087. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Avery Dennison

Several large investors have recently modified their holdings of the stock. Cetera Investment Advisers grew its holdings in shares of Avery Dennison by 195.2% during the 1st quarter. Cetera Investment Advisers now owns 17,863 shares of the industrial products company’s stock valued at $3,988,000 after purchasing an additional 11,811 shares during the last quarter. Natixis raised its holdings in shares of Avery Dennison by 365.9% during the first quarter. Natixis now owns 4,552 shares of the industrial products company’s stock valued at $1,016,000 after purchasing an additional 3,575 shares during the last quarter. Mediolanum International Funds Ltd bought a new position in Avery Dennison in the first quarter worth approximately $2,935,000. SG Americas Securities LLC increased its holdings in Avery Dennison by 86.5% in the 2nd quarter. SG Americas Securities LLC now owns 32,538 shares of the industrial products company’s stock worth $7,114,000 after acquiring an additional 15,092 shares in the last quarter. Finally, McElhenny Sheffield Capital Management LLC purchased a new stake in Avery Dennison in the 2nd quarter worth $543,000. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Avery Dennison Trading Down 0.3 %

Shares of Avery Dennison stock opened at $215.07 on Tuesday. The company has a market capitalization of $17.32 billion, a P/E ratio of 31.40, a PEG ratio of 1.78 and a beta of 0.88. Avery Dennison has a 1 year low of $165.21 and a 1 year high of $233.48. The company’s fifty day moving average is $215.33 and its two-hundred day moving average is $218.96. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.60 and a current ratio of 0.90.

Avery Dennison (NYSE:AVY) last released its earnings results on Tuesday, July 23rd. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.16. Avery Dennison had a return on equity of 33.44% and a net margin of 7.34%. The business had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.18 billion. During the same quarter in the previous year, the company posted $1.92 earnings per share. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. Analysts forecast that Avery Dennison will post 9.41 earnings per share for the current year.

Avery Dennison Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th were issued a dividend of $0.88 per share. The ex-dividend date was Wednesday, September 4th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.64%. Avery Dennison’s payout ratio is presently 51.39%.

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.