Avery Dennison Co. (NYSE:AVY) Receives $239.96 Consensus PT from Analysts

Avery Dennison Co. (NYSE:AVY) has received an average recommendation of “Moderate Buy” from the eleven analysts that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $239.96.

AVY has been the subject of a number of research reports. Stifel Nicolaus began coverage on shares of Avery Dennison in a research report on Tuesday, July 9th. They set a “buy” rating and a $274.60 target price for the company. BMO Capital Markets reduced their target price on Avery Dennison from $256.00 to $254.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. UBS Group lowered Avery Dennison from a “buy” rating to a “neutral” rating and dropped their price target for the company from $262.00 to $235.00 in a research note on Thursday, July 25th. Robert W. Baird lifted their price objective on Avery Dennison from $230.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, June 7th. Finally, Argus increased their target price on Avery Dennison from $240.00 to $245.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th.

Avery Dennison Price Performance

NYSE:AVY opened at $219.05 on Monday. The business’s 50-day simple moving average is $216.64 and its two-hundred day simple moving average is $217.88. Avery Dennison has a 52 week low of $165.21 and a 52 week high of $233.48. The stock has a market cap of $17.65 billion, a PE ratio of 31.98, a P/E/G ratio of 1.77 and a beta of 0.88. The company has a quick ratio of 0.60, a current ratio of 0.90 and a debt-to-equity ratio of 0.89.

Avery Dennison (NYSE:AVY) last issued its earnings results on Tuesday, July 23rd. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.16. Avery Dennison had a return on equity of 33.44% and a net margin of 7.34%. The company had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter last year, the company earned $1.92 EPS. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, analysts forecast that Avery Dennison will post 9.39 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.61%. The ex-dividend date is Wednesday, September 4th. Avery Dennison’s dividend payout ratio is currently 51.39%.

Insider Buying and Selling

In other Avery Dennison news, Chairman Mitchell R. Butier sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $214.21, for a total value of $2,142,100.00. Following the completion of the sale, the chairman now owns 304,114 shares of the company’s stock, valued at $65,144,259.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Avery Dennison news, Chairman Mitchell R. Butier sold 10,000 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $214.21, for a total value of $2,142,100.00. Following the transaction, the chairman now owns 304,114 shares of the company’s stock, valued at approximately $65,144,259.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Mitchell R. Butier sold 3,000 shares of Avery Dennison stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $206.82, for a total transaction of $620,460.00. Following the sale, the chairman now owns 304,114 shares of the company’s stock, valued at approximately $62,896,857.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,939 shares of company stock valued at $11,657,766. Company insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Victory Capital Management Inc. lifted its holdings in shares of Avery Dennison by 2.1% in the 2nd quarter. Victory Capital Management Inc. now owns 1,326,548 shares of the industrial products company’s stock worth $290,050,000 after buying an additional 27,771 shares during the period. Boston Partners grew its holdings in Avery Dennison by 3.6% during the 1st quarter. Boston Partners now owns 1,019,802 shares of the industrial products company’s stock worth $227,660,000 after acquiring an additional 35,538 shares in the last quarter. Norges Bank purchased a new position in Avery Dennison during the 4th quarter valued at about $185,292,000. Dimensional Fund Advisors LP lifted its position in shares of Avery Dennison by 4.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 787,716 shares of the industrial products company’s stock worth $172,254,000 after purchasing an additional 32,467 shares during the period. Finally, Veritas Investment Partners UK Ltd. increased its holdings in Avery Dennison by 15.5% during the fourth quarter. Veritas Investment Partners UK Ltd. now owns 760,791 shares of the industrial products company’s stock valued at $153,804,000 after buying an additional 102,000 shares during the period. Institutional investors own 94.17% of the company’s stock.

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.