Avery Dennison Co. to Post FY2024 Earnings of $9.30 Per Share, Zacks Research Forecasts (NYSE:AVY)

Avery Dennison Co. (NYSE:AVY) – Research analysts at Zacks Research lifted their FY2024 earnings estimates for shares of Avery Dennison in a research note issued to investors on Thursday, May 23rd. Zacks Research analyst M. Das now expects that the industrial products company will post earnings per share of $9.30 for the year, up from their prior forecast of $9.25. The consensus estimate for Avery Dennison’s current full-year earnings is $9.31 per share. Zacks Research also issued estimates for Avery Dennison’s Q4 2024 earnings at $2.40 EPS, Q1 2025 earnings at $2.30 EPS, Q2 2025 earnings at $2.62 EPS, Q4 2025 earnings at $2.70 EPS, FY2025 earnings at $10.29 EPS and FY2026 earnings at $11.29 EPS.

Several other analysts also recently weighed in on the stock. Truist Financial boosted their target price on shares of Avery Dennison from $248.00 to $253.00 and gave the stock a “buy” rating in a research 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 stock an “outperform” rating in a report on Thursday, April 25th. StockNews.com upgraded shares of Avery Dennison from a “hold” rating to a “buy” rating in a research report on Monday, April 22nd. Argus upped their price objective on shares of Avery Dennison from $240.00 to $245.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Avery Dennison from $218.00 to $220.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. One 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, Avery Dennison presently has an average rating of “Moderate Buy” and an average target price of $228.50.

Avery Dennison Trading Down 0.9 %

NYSE:AVY opened at $227.10 on Friday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.58 and a current ratio of 0.87. The firm has a market cap of $18.29 billion, a P/E ratio of 33.15, a P/E/G ratio of 2.11 and a beta of 0.91. The firm has a 50-day simple moving average of $219.30 and a 200-day simple moving average of $206.56. Avery Dennison has a one year low of $158.93 and a one year high of $229.98.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings results on Wednesday, April 24th. The industrial products company reported $2.29 EPS for the quarter, beating the consensus estimate of $2.15 by $0.14. Avery Dennison had a net margin of 6.56% and a return on equity of 32.59%. The business had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.15 billion.

Avery Dennison Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Wednesday, June 5th will be paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend is Wednesday, June 5th. This is a positive change from Avery Dennison’s previous quarterly dividend of $0.81. Avery Dennison’s dividend payout ratio (DPR) is 47.30%.

Insider Buying and Selling at Avery Dennison

In other Avery Dennison news, insider Francisco Melo sold 3,750 shares of Avery Dennison stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $227.00, for a total transaction of $851,250.00. Following the completion of the sale, the insider now directly owns 15,230 shares in the company, valued at $3,457,210. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Francisco Melo sold 3,750 shares of Avery Dennison stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $227.00, for a total value of $851,250.00. Following the completion of the transaction, the insider now owns 15,230 shares in the company, valued at $3,457,210. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Mitchell R. Butier sold 8,168 shares of Avery Dennison stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $217.36, for a total transaction of $1,775,396.48. Following the completion of the transaction, the chairman now owns 321,487 shares of the company’s stock, valued at approximately $69,878,414.32. The disclosure for this sale can be found here. Insiders sold a total of 21,212 shares of company stock worth $4,652,269 over the last three months. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Swedbank AB acquired a new position in Avery Dennison during the 1st quarter worth approximately $102,117,000. Plato Investment Management Ltd raised its position in Avery Dennison by 18,233.3% in the 1st quarter. Plato Investment Management Ltd now owns 1,650 shares of the industrial products company’s stock valued at $368,000 after purchasing an additional 1,641 shares during the last quarter. Zimmer Partners LP acquired a new position in Avery Dennison in the 1st quarter valued at $6,028,000. Tidal Investments LLC increased its stake in Avery Dennison by 14.3% in the 1st quarter. Tidal Investments LLC now owns 2,986 shares of the industrial products company’s stock valued at $667,000 after buying an additional 374 shares during the period. Finally, Jane Street Group LLC increased its stake in Avery Dennison by 11.0% in the 1st quarter. Jane Street Group LLC now owns 47,420 shares of the industrial products company’s stock valued at $10,587,000 after buying an additional 4,697 shares during the period. Institutional investors and hedge funds 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.