Avery Dennison Co. (NYSE:AVY) Declares Quarterly Dividend of $0.88

Avery Dennison Co. (NYSE:AVY) announced a quarterly dividend on Thursday, April 25th, Wall Street Journal reports. Investors of record on Wednesday, June 5th will be paid a dividend of 0.88 per share by the industrial products company on Thursday, June 20th. This represents a $3.52 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend is Wednesday, June 5th. This is an increase from Avery Dennison’s previous quarterly dividend of $0.81.

Avery Dennison has raised its dividend by an average of 10.5% annually over the last three years and has increased its dividend annually for the last 13 consecutive years. Avery Dennison has a payout ratio of 30.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Avery Dennison to earn $10.28 per share next year, which means the company should continue to be able to cover its $3.24 annual dividend with an expected future payout ratio of 31.5%.

Avery Dennison Stock Performance

Shares of Avery Dennison stock opened at $219.02 on Friday. Avery Dennison has a 12 month low of $158.93 and a 12 month high of $225.26. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.87 and a quick ratio of 0.69. The stock has a market capitalization of $17.64 billion, a price-to-earnings ratio of 31.97, a PEG ratio of 3.35 and a beta of 0.90. The firm’s fifty day simple moving average is $215.71 and its 200-day simple moving average is $200.36.

Avery Dennison (NYSE:AVY) last released its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $2.16 EPS for the quarter, hitting the consensus estimate of $2.16. The business had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.10 billion. Avery Dennison had a return on equity of 32.59% and a net margin of 6.56%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.65 earnings per share. As a group, equities analysts forecast that Avery Dennison will post 9.26 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on AVY. StockNews.com raised Avery Dennison from a “hold” rating to a “buy” rating in a report on Monday, April 22nd. Raymond James reaffirmed an “outperform” rating and set a $240.00 price target (up from $225.00) on shares of Avery Dennison in a research note on Thursday. Robert W. Baird upped their target price on shares of Avery Dennison from $215.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday. Citigroup boosted their price target on Avery Dennison from $223.00 to $234.00 and gave the stock a “neutral” rating in a research note on Thursday, April 4th. Finally, JPMorgan Chase & Co. raised their target price on shares of Avery Dennison from $218.00 to $220.00 and gave the company an “overweight” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $224.00.

Insider Buying and Selling at Avery Dennison

In other Avery Dennison news, insider Ryan D. Yost sold 1,400 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $213.29, for a total transaction of $298,606.00. Following the transaction, the insider now owns 2,843 shares of the company’s stock, valued at $606,383.47. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Ryan D. Yost sold 1,400 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $213.29, for a total value of $298,606.00. Following the transaction, the insider now owns 2,843 shares in the company, valued at $606,383.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Julia A. Stewart sold 5,311 shares of Avery Dennison stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $202.26, for a total transaction of $1,074,202.86. Following the transaction, 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 sold 19,879 shares of company stock worth $4,217,705 in the last 90 days. 1.10% of the stock is owned by company insiders.

About Avery Dennison

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.