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

Shares of Avery Dennison Co. (NYSE:AVY) have received a consensus rating of “Moderate Buy” from the nine brokerages that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $221.00.

Several research firms have recently commented on AVY. UBS Group upped their price target on shares of Avery Dennison from $225.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, January 11th. StockNews.com lowered shares of Avery Dennison from a “buy” rating to a “hold” rating in a research report on Wednesday, March 27th. JPMorgan Chase & Co. increased their target price on shares of Avery Dennison from $185.00 to $218.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Truist Financial reissued a “buy” rating and issued a $249.00 target price on shares of Avery Dennison in a report on Friday, January 19th. Finally, Bank of America lowered shares of Avery Dennison from a “buy” rating to an “underperform” rating and set a $208.00 target price for the company. in a report on Tuesday, January 2nd.

Avery Dennison Stock Performance

Shares of Avery Dennison stock opened at $211.28 on Tuesday. The stock has a market cap of $17.01 billion, a price-to-earnings ratio of 34.02, a PEG ratio of 3.25 and a beta of 0.90. The firm’s 50-day moving average is $214.34 and its 200 day moving average is $198.72. Avery Dennison has a 1 year low of $158.93 and a 1 year high of $225.26. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.04 and a quick ratio of 0.69.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.16. Avery Dennison had a net margin of 6.01% and a return on equity of 30.97%. The company had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.10 billion. During the same quarter in the previous year, the business posted $1.65 EPS. Avery Dennison’s revenue was up 4.2% compared to the same quarter last year. Sell-side analysts anticipate that Avery Dennison will post 9.28 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were issued a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend was Tuesday, March 5th. Avery Dennison’s dividend payout ratio (DPR) is 52.17%.

Insider Buying and Selling

In related news, insider Ryan D. Yost sold 1,400 shares of Avery Dennison stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $213.29, for a total transaction of $298,606.00. Following the completion of the sale, the insider now owns 2,843 shares of the company’s stock, valued at $606,383.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Ryan D. Yost sold 1,400 shares of Avery Dennison stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $213.29, for a total transaction of $298,606.00. Following the completion of the transaction, the insider now directly owns 2,843 shares in the company, valued at $606,383.47. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Mitchell R. Butier sold 8,168 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chairman now owns 321,487 shares of the company’s stock, valued at $69,878,414.32. The disclosure for this sale can be found here. Insiders sold 19,879 shares of company stock valued at $4,217,705 over the last quarter. 1.10% of the stock is currently owned by company insiders.

Institutional Trading of Avery Dennison

A number of institutional investors have recently made changes to their positions in AVY. Moneta Group Investment Advisors LLC boosted its stake in Avery Dennison by 102,432.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 1,947,083 shares of the industrial products company’s stock worth $352,422,000 after buying an additional 1,945,184 shares during the last quarter. Cerity Partners LLC boosted its stake in Avery Dennison by 4,159.9% during the fourth quarter. Cerity Partners LLC now owns 1,191,228 shares of the industrial products company’s stock worth $240,819,000 after buying an additional 1,163,264 shares during the last quarter. Norges Bank acquired a new position in Avery Dennison during the fourth quarter worth $185,292,000. Morgan Stanley boosted its stake in Avery Dennison by 55.7% during the third quarter. Morgan Stanley now owns 1,788,321 shares of the industrial products company’s stock worth $326,673,000 after buying an additional 639,521 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its stake in Avery Dennison by 48.0% during the first quarter. Lazard Asset Management LLC now owns 1,748,006 shares of the industrial products company’s stock worth $304,099,000 after buying an additional 566,938 shares during the last quarter. 94.17% of the stock is owned by institutional investors and hedge funds.

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.