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

Shares of Avery Dennison Co. (NYSE:AVY) have received a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and eight have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $239.78.

AVY has been the topic of several research reports. Truist Financial upped their price target on Avery Dennison from $253.00 to $258.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Stifel Nicolaus assumed coverage on shares of Avery Dennison in a research report on Tuesday, July 9th. They issued a “buy” rating and a $274.60 price target on the stock. Citigroup boosted their price objective on shares of Avery Dennison from $230.00 to $241.00 and gave the company a “neutral” rating in a research report on Monday, July 8th. BMO Capital Markets reissued an “outperform” rating and issued a $252.00 target price (down previously from $254.00) on shares of Avery Dennison in a report on Thursday. Finally, UBS Group lowered Avery Dennison from a “buy” rating to a “neutral” rating and lowered their target price for the company from $262.00 to $235.00 in a report on Thursday, July 25th.

Insider Activity

In related news, Chairman Mitchell R. Butier sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $213.75, for a total value of $2,137,500.00. Following the completion of the sale, the chairman now owns 304,114 shares of the company’s stock, valued at $65,004,367.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Avery Dennison news, Chairman Mitchell R. Butier sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $213.75, for a total value of $2,137,500.00. Following the completion of the sale, the chairman now directly owns 304,114 shares in the company, valued at $65,004,367.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Mitchell R. Butier sold 7,108 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $218.12, for a total value of $1,550,396.96. Following the transaction, the chairman now directly owns 304,114 shares of the company’s stock, valued at $66,333,345.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 59,108 shares of company stock valued at $12,545,087. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Avery Dennison

Several large investors have recently made changes to their positions in AVY. Innealta Capital LLC acquired a new stake in Avery Dennison during the second quarter valued at approximately $28,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Avery Dennison during the 2nd quarter worth $42,000. 1620 Investment Advisors Inc. acquired a new position in shares of Avery Dennison in the 2nd quarter worth $51,000. Palisade Asset Management LLC acquired a new stake in shares of Avery Dennison during the first quarter worth $64,000. Finally, Versant Capital Management Inc lifted its holdings in shares of Avery Dennison by 936.7% during the second quarter. Versant Capital Management Inc now owns 311 shares of the industrial products company’s stock valued at $68,000 after purchasing an additional 281 shares during the last quarter. Institutional investors own 94.17% of the company’s stock.

Avery Dennison Trading Up 3.1 %

AVY opened at $215.77 on Friday. The stock has a market capitalization of $17.38 billion, a PE ratio of 31.50, a P/E/G ratio of 1.81 and a beta of 0.88. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.90 and a quick ratio of 0.60. Avery Dennison has a 12-month low of $165.21 and a 12-month high of $233.48. The firm’s fifty day moving average price is $215.74 and its 200 day moving average price is $218.84.

Avery Dennison (NYSE:AVY) last issued 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. The business had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.18 billion. Avery Dennison had a net margin of 7.34% and a return on equity of 33.44%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.92 EPS. As a group, research analysts expect that Avery Dennison will post 9.41 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th were given 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 yield of 1.63%. Avery Dennison’s dividend payout ratio (DPR) is presently 51.39%.

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.