Avery Dennison (NYSE:AVY) Price Target Raised to $230.00

Avery Dennison (NYSE:AVY) had its price target raised by UBS Group from $225.00 to $230.00 in a report published on Friday morning,Benzinga reports. UBS Group currently has a buy rating on the industrial products company’s stock.

A number of other research analysts have also commented on the stock. Wall Street Zen lowered shares of Avery Dennison from a “buy” rating to a “hold” rating in a research note on Saturday. JPMorgan Chase & Co. upped their target price on Avery Dennison from $190.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday. Truist Financial decreased their price target on Avery Dennison from $209.00 to $208.00 and set a “buy” rating for the company in a research note on Monday, October 12th. Bank of America reiterated a “buy” rating on shares of Avery Dennison in a research report on Friday, August 14th. Finally, Citigroup lifted their price target on Avery Dennison from $184.00 to $186.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $200.60.

Avery Dennison Stock Down 0.0%

Avery Dennison stock opened at $182.19 on Friday. The stock has a market cap of $13.81 billion, a price-to-earnings ratio of 19.72, a PEG ratio of 2.15 and a beta of 0.79. The company has a current ratio of 1.16, a quick ratio of 0.80 and a debt-to-equity ratio of 1.33. The company’s 50-day moving average price is $174.24 and its two-hundred day moving average price is $172.28. Avery Dennison has a 52 week low of $152.42 and a 52 week high of $199.54.

Avery Dennison (NYSE:AVY) last released its quarterly earnings results on Thursday, October 29th. The industrial products company reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $2.32 by $0.10. The company had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.26 billion. Avery Dennison had a net margin of 7.56% and a return on equity of 33.88%. Avery Dennison’s revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.37 EPS. On average, analysts expect that Avery Dennison will post 10.17 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 16th. Stockholders of record on Wednesday, December 2nd will be given a dividend of $1.00 per share. The ex-dividend date is Wednesday, December 2nd. This represents a $4.00 annualized dividend and a dividend yield of 2.2%. Avery Dennison’s dividend payout ratio (DPR) is 43.29%.

Insider Activity at Avery Dennison

In related news, SVP Nicholas Colisto sold 3,886 shares of the stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $170.68, for a total transaction of $663,262.48. Following the completion of the sale, the senior vice president directly owned 7,126 shares of the company’s stock, valued at $1,216,265.68. This represents a 35.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Ignacio J. Walker sold 1,742 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $171.61, for a total value of $298,944.62. Following the sale, the senior vice president directly owned 7,585 shares of the company’s stock, valued at approximately $1,301,661.85. This represents a 18.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.81% of the company’s stock.

Hedge Funds Weigh In On Avery Dennison

A number of institutional investors have recently bought and sold shares of AVY. Bank of America Corp DE purchased a new position in Avery Dennison during the 2nd quarter valued at about $142,169,000. HighTower Advisors LLC lifted its position in shares of Avery Dennison by 32.9% in the second quarter. HighTower Advisors LLC now owns 68,647 shares of the industrial products company’s stock worth $11,145,000 after purchasing an additional 17,003 shares in the last quarter. QRG Capital Management Inc. lifted its position in shares of Avery Dennison by 172.3% in the second quarter. QRG Capital Management Inc. now owns 7,301 shares of the industrial products company’s stock worth $1,185,000 after purchasing an additional 4,620 shares in the last quarter. AXQ Capital LP acquired a new stake in shares of Avery Dennison during the second quarter worth approximately $1,053,000. Finally, Corient Private Wealth LP boosted its holdings in shares of Avery Dennison by 91.1% during the second quarter. Corient Private Wealth LP now owns 124,011 shares of the industrial products company’s stock worth $20,133,000 after purchasing an additional 59,109 shares during the period. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Avery Dennison Company Profile

Avery Dennison Corporation (NYSE: AVY) is a global materials science and manufacturing company that develops and produces labeling, packaging, graphic, and functional materials. Its products are used by businesses across industries including consumer goods, retail, logistics, apparel, automotive, healthcare, and industrial manufacturing.

The company’s offerings include pressure-sensitive labels and label materials, adhesives, industrial and specialty tapes, graphic films, and packaging materials.