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

Shares of Avery Dennison Co. (NYSE:AVY) have earned a consensus rating of “Moderate Buy” from the eleven ratings firms that are currently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $235.05.

A number of analysts have issued reports on AVY shares. StockNews.com downgraded Avery Dennison from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Truist Financial decreased their price objective on Avery Dennison from $258.00 to $245.00 and set a “buy” rating for the company in a report on Monday, January 6th. Barclays lowered their price objective on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. BMO Capital Markets cut their target price on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Finally, Citigroup lowered their price target on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th.

Insider Buying and Selling at Avery Dennison

In other Avery Dennison news, SVP Nicholas Colisto sold 3,679 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $206.00, for a total value of $757,874.00. Following the transaction, the senior vice president now directly owns 7,126 shares in the company, valued at $1,467,956. This represents a 34.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC raised its stake in Avery Dennison by 8.2% in the third quarter. Geode Capital Management LLC now owns 2,088,516 shares of the industrial products company’s stock valued at $459,621,000 after purchasing an additional 157,754 shares in the last quarter. Victory Capital Management Inc. grew its stake in 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 worth $312,772,000 after buying an additional 90,250 shares in the last quarter. World Investment Advisors LLC increased its holdings in shares of Avery Dennison by 2,629.0% in the 3rd quarter. World Investment Advisors LLC now owns 91,857 shares of the industrial products company’s stock worth $20,278,000 after buying an additional 88,491 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Avery Dennison during the 2nd quarter valued at $11,733,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Avery Dennison by 12.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 420,232 shares of the industrial products company’s stock worth $92,771,000 after acquiring an additional 46,390 shares during the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Avery Dennison Price Performance

AVY opened at $190.52 on Thursday. Avery Dennison has a fifty-two week low of $181.99 and a fifty-two week high of $233.48. The firm has a 50-day moving average of $195.64 and a 200 day moving average of $208.18. 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 firm has a market cap of $15.31 billion, a P/E ratio of 22.87, a PEG ratio of 1.52 and a beta of 0.89.

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

Avery Dennison Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th were issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date was Wednesday, December 4th. Avery Dennison’s dividend payout ratio (DPR) is presently 42.26%.

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.