Avery Dennison (NYSE:AVY) Price Target Raised to $245.00 at Argus

Avery Dennison (NYSE:AVY) had its price target lifted by Argus from $240.00 to $245.00 in a research note published on Wednesday, Benzinga reports. The firm currently has a buy rating on the industrial products company’s stock.

A number of other equities analysts also recently commented on the stock. Raymond James restated an outperform rating and set a $240.00 price objective (up previously from $225.00) on shares of Avery Dennison in a research report on Thursday, April 25th. Truist Financial increased their price target on shares of Avery Dennison from $248.00 to $253.00 and gave the company a buy rating in a report on Friday, April 26th. Robert W. Baird increased their price target on shares of Avery Dennison from $215.00 to $230.00 and gave the company an outperform rating in a report on Thursday, April 25th. Citigroup increased their price target on shares of Avery Dennison from $223.00 to $234.00 and gave the company a neutral rating in a report on Thursday, April 4th. Finally, StockNews.com upgraded shares of Avery Dennison from a hold rating to a buy rating in a report on Monday, April 22nd. 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 company. According to MarketBeat.com, Avery Dennison presently has an average rating of Moderate Buy and a consensus price target of $228.50.

Avery Dennison Stock Up 0.5 %

Shares of Avery Dennison stock opened at $225.10 on Wednesday. The company has a market cap of $18.13 billion, a P/E ratio of 32.86, a PEG ratio of 3.41 and a beta of 0.91. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.58 and a current ratio of 0.87. Avery Dennison has a one year low of $158.93 and a one year high of $225.55. The firm has a fifty day moving average of $216.95 and a two-hundred day moving average of $202.69.

Avery Dennison Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Wednesday, June 5th will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.56%. This is a boost from Avery Dennison’s previous quarterly dividend of $0.81. The ex-dividend date is Tuesday, June 4th. Avery Dennison’s dividend payout ratio is presently 51.39%.

Insiders Place Their Bets

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 sale, the insider now directly 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 through this hyperlink. In other news, SVP Ignacio J. Walker sold 5,000 shares of Avery Dennison stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $213.90, for a total transaction of $1,069,500.00. Following the sale, the senior vice president now owns 6,102 shares in the company, valued at $1,305,217.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ryan D. Yost sold 1,400 shares of Avery Dennison stock in a transaction 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 sale, the insider now owns 2,843 shares of the company’s stock, valued at approximately $606,383.47. The disclosure for this sale can be found here. Insiders have sold 14,568 shares of company stock valued at $3,143,502 in the last ninety days. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Avery Dennison

A number of hedge funds have recently added to or reduced their stakes in AVY. Cerity Partners LLC boosted its holdings in Avery Dennison by 4,159.9% in the fourth quarter. Cerity Partners LLC now owns 1,191,228 shares of the industrial products company’s stock worth $240,819,000 after purchasing an additional 1,163,264 shares during the period. Norges Bank acquired a new position in Avery Dennison in the fourth quarter worth $185,292,000. Morgan Stanley boosted its holdings in Avery Dennison by 55.7% in the third quarter. Morgan Stanley now owns 1,788,321 shares of the industrial products company’s stock worth $326,673,000 after purchasing an additional 639,521 shares during the period. Ameriprise Financial Inc. boosted its holdings in Avery Dennison by 22.7% in the third quarter. Ameriprise Financial Inc. now owns 2,670,469 shares of the industrial products company’s stock worth $487,857,000 after purchasing an additional 493,857 shares during the period. Finally, Boston Partners boosted its holdings in Avery Dennison by 43.9% in the third quarter. Boston Partners now owns 1,007,542 shares of the industrial products company’s stock worth $184,026,000 after purchasing an additional 307,325 shares during the period. Institutional investors and hedge funds own 94.17% of the company’s stock.

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.