Avery Dennison Co. (NYSE:AVY) Receives $244.96 Consensus Price Target from Analysts

Avery Dennison Co. (NYSE:AVY) has earned an average recommendation of “Moderate Buy” from the eleven ratings firms that are covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $244.96.

Several brokerages have recently weighed in on AVY. JPMorgan Chase & Co. cut Avery Dennison from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $230.00 to $210.00 in a report on Thursday, October 24th. Bank of America raised Avery Dennison from an “underperform” rating to a “buy” rating and boosted their price objective for the stock from $207.00 to $250.00 in a research note on Thursday, October 17th. Barclays cut their target price on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. BMO Capital Markets lowered their price target on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Finally, Citigroup cut their price objective on shares of Avery Dennison from $241.00 to $240.00 and set a “neutral” rating for the company in a research report on Wednesday, October 2nd.

Avery Dennison Stock Up 0.4 %

Shares of AVY opened at $189.38 on Friday. The stock has a 50 day moving average price of $203.24 and a 200 day moving average price of $212.65. Avery Dennison has a one year low of $185.73 and a one year high of $233.48. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.92. The stock has a market capitalization of $15.22 billion, a price-to-earnings ratio of 22.73, a PEG ratio of 1.52 and a beta of 0.87.

Avery Dennison (NYSE:AVY) last issued its earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $2.32 by $0.01. The business had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.20 billion. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.10 earnings per share. Equities research analysts forecast that Avery Dennison will post 9.42 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th were paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date was Wednesday, December 4th. Avery Dennison’s dividend payout ratio (DPR) is 42.26%.

Insider Activity

In other Avery Dennison news, SVP Nicholas Colisto sold 3,679 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $206.00, for a total value of $757,874.00. Following the completion of the transaction, the senior vice president now owns 7,126 shares of the company’s stock, valued at $1,467,956. This trade represents a 34.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Avery Dennison

Institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC grew its stake in shares of Avery Dennison by 8.2% during the third quarter. Geode Capital Management LLC now owns 2,088,516 shares of the industrial products company’s stock worth $459,621,000 after purchasing an additional 157,754 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Avery Dennison by 6.8% in the 3rd quarter. Victory Capital Management Inc. now owns 1,416,798 shares of the industrial products company’s stock valued at $312,772,000 after acquiring an additional 90,250 shares during the last quarter. Meridiem Investment Management Ltd. raised its position in shares of Avery Dennison by 0.7% during the 3rd quarter. Meridiem Investment Management Ltd. now owns 794,092 shares of the industrial products company’s stock worth $175,261,000 after acquiring an additional 5,756 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Avery Dennison by 4.3% during the second quarter. Dimensional Fund Advisors LP now owns 787,716 shares of the industrial products company’s stock worth $172,254,000 after purchasing an additional 32,467 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Avery Dennison by 0.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 699,541 shares of the industrial products company’s stock valued at $154,431,000 after purchasing an additional 3,118 shares in the last quarter. 94.17% of the stock is owned by institutional investors and hedge funds.

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.