Avery Dennison Co. (NYSE:AVY) Given Average Rating of “Buy” by Brokerages

Avery Dennison Co. (NYSE:AVY) has been assigned a consensus recommendation of “Buy” from the seven analysts that are presently covering the firm, Marketbeat reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 12-month price target among brokerages that have covered the stock in the last year is $205.00.

Several equities research analysts have recently issued reports on AVY shares. StockNews.com assumed coverage on shares of Avery Dennison in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Truist Financial dropped their price objective on shares of Avery Dennison from $219.00 to $215.00 in a research note on Wednesday, July 26th. Citigroup raised their target price on Avery Dennison from $200.00 to $205.00 in a research report on Wednesday, July 26th. BMO Capital Markets lowered their price objective on shares of Avery Dennison from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 26th. Finally, Loop Capital lowered their price objective on shares of Avery Dennison from $208.00 to $201.00 in a research report on Thursday, June 8th.

Insiders Place Their Bets

In related news, insider Francisco Melo sold 4,800 shares of the stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $186.00, for a total transaction of $892,800.00. Following the completion of the transaction, the insider now directly owns 16,905 shares in the company, valued at $3,144,330. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Francisco Melo sold 4,800 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $186.00, for a total value of $892,800.00. Following the sale, the insider now owns 16,905 shares of the company’s stock, valued at $3,144,330. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Julia A. Stewart sold 5,633 shares of the company’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $186.14, for a total transaction of $1,048,526.62. Following the completion of the sale, the director now directly owns 10,329 shares of the company’s stock, valued at $1,922,640.06. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Institutional Trading of Avery Dennison

Hedge funds have recently bought and sold shares of the company. Portside Wealth Group LLC purchased a new position in Avery Dennison during the 2nd quarter worth $402,000. Orion Portfolio Solutions LLC lifted its holdings in shares of Avery Dennison by 466.4% in the 2nd quarter. Orion Portfolio Solutions LLC now owns 6,871 shares of the industrial products company’s stock valued at $1,180,000 after buying an additional 5,658 shares during the period. Imprint Wealth LLC purchased a new stake in Avery Dennison in the 2nd quarter worth approximately $16,957,000. Nuveen Asset Management LLC grew its holdings in Avery Dennison by 6.8% during the 2nd quarter. Nuveen Asset Management LLC now owns 268,115 shares of the industrial products company’s stock valued at $46,062,000 after purchasing an additional 17,002 shares in the last quarter. Finally, GTS Securities LLC acquired a new position in shares of Avery Dennison during the second quarter worth approximately $223,000. Hedge funds and other institutional investors own 91.09% of the company’s stock.

Avery Dennison Stock Up 0.3 %

Shares of NYSE:AVY opened at $189.02 on Monday. The company’s 50-day moving average price is $179.27 and its two-hundred day moving average price is $175.15. The company has a quick ratio of 0.71, a current ratio of 1.09 and a debt-to-equity ratio of 1.44. The firm has a market cap of $15.23 billion, a P/E ratio of 27.24, a P/E/G ratio of 3.31 and a beta of 0.95. Avery Dennison has a 12 month low of $157.28 and a 12 month high of $195.95.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.92 earnings per share for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.13). Avery Dennison had a return on equity of 31.13% and a net margin of 6.66%. The firm had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.17 billion. During the same period last year, the company posted $2.64 earnings per share. The firm’s quarterly revenue was down 10.9% compared to the same quarter last year. As a group, research analysts forecast that Avery Dennison will post 8.04 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, September 6th will be issued a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend is Tuesday, September 5th. Avery Dennison’s dividend payout ratio is currently 46.69%.

About Avery Dennison

Avery Dennison Corporation operates as materials science and digital identification solutions company. It provides branding and information labeling solutions, including pressure-sensitive materials, radio-frequency identification (RFID) inlays and tags, and various converted products and solutions. The company designs and manufactures a range of labeling and functional materials that enhance branded packaging, carry or display information that connects the physical and the digital, and improve customers' product performance.