Brokerages Set Avery Dennison Co. (NYSE:AVY) PT at $222.51

Shares of Avery Dennison Co. (NYSE:AVY) have been assigned an average recommendation of “Moderate Buy” from the eleven analysts that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $222.51.

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. upgraded Avery Dennison from a “neutral” rating to an “overweight” rating and lowered their price target for the company from $210.00 to $205.00 in a report on Friday, January 31st. Robert W. Baird set a $220.00 price target on Avery Dennison in a report on Friday, January 31st. Bank of America lowered their price target on Avery Dennison from $238.00 to $220.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Citigroup lowered their price target on Avery Dennison from $228.00 to $202.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Finally, Truist Financial reiterated a “buy” rating and set a $215.00 price target (down previously from $245.00) on shares of Avery Dennison in a report on Friday, January 31st.

Insiders Place Their Bets

In other Avery Dennison news, Chairman Mitchell R. Butier sold 12,969 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $181.85, for a total value of $2,358,412.65. Following the completion of the sale, the chairman now owns 303,331 shares of the company’s stock, valued at $55,160,742.35. The trade was a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Avery Dennison

Large investors have recently made changes to their positions in the business. Larson Financial Group LLC lifted its position in shares of Avery Dennison by 100.0% during the 3rd quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 71 shares during the last quarter. Kennebec Savings Bank acquired a new position in shares of Avery Dennison during the 3rd quarter worth about $36,000. Peterson Financial Group Inc. acquired a new position in shares of Avery Dennison during the 3rd quarter worth about $39,000. Regents Gate Capital LLP acquired a new position in shares of Avery Dennison during the 4th quarter worth about $37,000. Finally, Brooklyn Investment Group acquired a new position in shares of Avery Dennison during the 3rd quarter worth about $66,000. Institutional investors and hedge funds own 94.17% of the company’s stock.

Avery Dennison Stock Performance

Shares of NYSE AVY opened at $180.23 on Friday. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10. The stock has a market capitalization of $14.24 billion, a price-to-earnings ratio of 20.67, a PEG ratio of 2.07 and a beta of 0.85. The stock’s fifty day simple moving average is $185.97 and its 200 day simple moving average is $200.24. Avery Dennison has a 52-week low of $178.72 and a 52-week high of $233.48.

Avery Dennison (NYSE:AVY) last issued its earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.01). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. As a group, sell-side analysts forecast that Avery Dennison will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be given a $0.88 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.95%. Avery Dennison’s dividend payout ratio is currently 40.37%.

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.