Avery Dennison (NYSE:AVY) Price Target Increased to $253.00 by Analysts at Truist Financial

Avery Dennison (NYSE:AVY) had its target price lifted by Truist Financial from $248.00 to $253.00 in a report issued on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the industrial products company’s stock.

Other research analysts have also issued research reports about the stock. Bank of America lowered shares of Avery Dennison from a buy rating to an underperform rating and set a $208.00 price objective for the company. in a research note on Tuesday, January 2nd. StockNews.com upgraded shares of Avery Dennison from a hold rating to a buy rating in a research note on Monday, April 22nd. JPMorgan Chase & Co. boosted their price objective on shares of Avery Dennison from $218.00 to $220.00 and gave the stock an overweight rating in a research note on Thursday. Robert W. Baird boosted their price objective on shares of Avery Dennison from $215.00 to $230.00 and gave the stock an outperform rating in a research note on Thursday. Finally, Citigroup upped their price target on shares of Avery Dennison from $223.00 to $234.00 and gave the company a neutral rating in a research note on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $224.00.

Avery Dennison Price Performance

Shares of AVY opened at $219.02 on Friday. The company has a 50 day moving average price of $215.71 and a 200-day moving average price of $200.36. Avery Dennison has a fifty-two week low of $158.93 and a fifty-two week high of $225.26. The stock has a market capitalization of $17.64 billion, a PE ratio of 31.97, a PEG ratio of 3.35 and a beta of 0.90. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.69 and a current ratio of 0.87.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $2.16 EPS for the quarter, hitting the consensus estimate of $2.16. The firm had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.10 billion. Avery Dennison had a net margin of 6.56% and a return on equity of 32.59%. Avery Dennison’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.65 EPS. Equities analysts predict that Avery Dennison will post 9.26 earnings per share for the current fiscal year.

Avery Dennison Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Wednesday, June 5th will be paid a $0.88 dividend. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.61%. This is a positive change from Avery Dennison’s previous quarterly dividend of $0.81. Avery Dennison’s dividend payout ratio is presently 47.30%.

Insider Transactions at Avery Dennison

In other news, Chairman Mitchell R. Butier sold 8,168 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $217.36, for a total value of $1,775,396.48. Following the sale, the chairman now owns 321,487 shares in the company, valued at $69,878,414.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Chairman Mitchell R. Butier sold 8,168 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $217.36, for a total value of $1,775,396.48. Following the sale, the chairman now owns 321,487 shares in the company, valued at $69,878,414.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Julia A. Stewart sold 5,311 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $202.26, for a total transaction of $1,074,202.86. Following the completion of the sale, the director now owns 5,018 shares in the company, valued at approximately $1,014,940.68. The disclosure for this sale can be found here. Insiders have sold 19,879 shares of company stock worth $4,217,705 over the last 90 days. 1.10% of the stock is currently owned by company insiders.

Institutional Trading of Avery Dennison

Hedge funds have recently added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Avery Dennison during the third quarter worth $32,000. Milestone Investment Advisors LLC purchased a new stake in Avery Dennison during the third quarter worth $36,000. Anchor Investment Management LLC purchased a new position in Avery Dennison during the fourth quarter valued at $42,000. VisionPoint Advisory Group LLC purchased a new position in Avery Dennison during the fourth quarter valued at $42,000. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in Avery Dennison by 164.4% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 267 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 166 shares in the last quarter. 94.17% of the stock is owned by hedge funds and other institutional investors.

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.