Avery Dennison Co. (AVY) To Go Ex-Dividend on May 31st

Avery Dennison Co. (NYSE:AVYGet Rating) declared a quarterly dividend on Thursday, April 28th, Zacks reports. Investors of record on Wednesday, June 1st will be given a dividend of 0.75 per share by the industrial products company on Wednesday, June 15th. This represents a $3.00 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend is Tuesday, May 31st. This is a boost from Avery Dennison’s previous quarterly dividend of $0.68.

Avery Dennison has raised its dividend by an average of 9.8% annually over the last three years and has raised its dividend annually for the last 13 consecutive years. Avery Dennison has a payout ratio of 28.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Avery Dennison to earn $10.73 per share next year, which means the company should continue to be able to cover its $3.00 annual dividend with an expected future payout ratio of 28.0%.

Shares of NYSE AVY opened at $173.61 on Friday. The stock’s 50-day simple moving average is $172.89 and its 200-day simple moving average is $189.47. Avery Dennison has a 1 year low of $156.51 and a 1 year high of $229.24. The firm has a market cap of $14.19 billion, a price-to-earnings ratio of 19.89, a PEG ratio of 2.55 and a beta of 0.93. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.71 and a current ratio of 1.06.

Avery Dennison (NYSE:AVYGet Rating) last issued its earnings results on Tuesday, April 26th. The industrial products company reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.18 by $0.22. The firm had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.28 billion. Avery Dennison had a net margin of 8.37% and a return on equity of 40.50%. Avery Dennison’s revenue was up 14.5% on a year-over-year basis. During the same quarter last year, the company posted $2.40 earnings per share. As a group, research analysts predict that Avery Dennison will post 9.71 EPS for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Raymond James Trust N.A. grew its holdings in Avery Dennison by 61.4% during the 1st quarter. Raymond James Trust N.A. now owns 4,968 shares of the industrial products company’s stock worth $864,000 after acquiring an additional 1,889 shares during the period. Ethic Inc. lifted its position in shares of Avery Dennison by 17.2% in the first quarter. Ethic Inc. now owns 4,242 shares of the industrial products company’s stock worth $738,000 after purchasing an additional 624 shares in the last quarter. Wealthfront Advisers LLC boosted its stake in shares of Avery Dennison by 17.8% during the 1st quarter. Wealthfront Advisers LLC now owns 3,810 shares of the industrial products company’s stock worth $662,000 after buying an additional 576 shares during the last quarter. Toroso Investments LLC grew its stake in Avery Dennison by 55.4% in the fourth quarter. Toroso Investments LLC now owns 2,706 shares of the industrial products company’s stock valued at $586,000 after purchasing an additional 965 shares in the last quarter. Finally, Alyeska Investment Group L.P. acquired a new stake in Avery Dennison in the first quarter valued at $528,000. 88.83% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have recently issued reports on the company. StockNews.com began coverage on Avery Dennison in a research note on Thursday, March 31st. They set a “hold” rating for the company. JPMorgan Chase & Co. upgraded shares of Avery Dennison from a “neutral” rating to an “overweight” rating and dropped their target price for the stock from $215.00 to $195.00 in a report on Wednesday, April 27th. Credit Suisse Group cut their price objective on Avery Dennison from $195.00 to $188.00 in a research report on Wednesday, April 20th. Raymond James raised their target price on Avery Dennison from $185.00 to $200.00 in a report on Thursday, April 28th. Finally, Loop Capital dropped their target price on shares of Avery Dennison from $209.00 to $202.00 and set a “buy” rating on the stock in a research report on Wednesday, April 13th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Avery Dennison presently has a consensus rating of “Buy” and an average price target of $216.00.

About Avery Dennison (Get Rating)

Avery Dennison Corporation manufactures and markets pressure-sensitive materials and products in the United States, Europe, Asia, Latin America, and internationally. The company's Label and Graphic Materials segment offers pressure-sensitive label and packaging materials; and graphics and reflective products under the Fasson, JAC, Avery Dennison, and Mactac brands, as well as durable cast and reflective films.

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Dividend History for Avery Dennison (NYSE:AVY)

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