Avery Dennison (NYSE:AVY) PT Lowered to $252.00 at UBS Group

Avery Dennison (NYSE:AVY) had its price objective cut by UBS Group from $260.00 to $252.00 in a research report released on Tuesday, Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

A number of other equities research analysts have also recently issued reports on the company. Citigroup upped their price objective on Avery Dennison from $230.00 to $241.00 and gave the stock a neutral rating in a research note on Monday. Stifel Nicolaus started coverage on shares of Avery Dennison in a research report on Tuesday. They set a buy rating and a $274.60 price objective for the company. Argus raised 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. JPMorgan Chase & Co. increased their target price on Avery Dennison from $218.00 to $220.00 and gave the stock an overweight rating in a research note on Thursday, April 25th. Finally, Raymond James reissued an outperform rating and set a $240.00 target price (up previously from $225.00) on shares of Avery Dennison in a report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $237.15.

Avery Dennison Price Performance

Shares of NYSE AVY opened at $217.84 on Tuesday. The firm has a market cap of $17.55 billion, a PE ratio of 32.04, a PEG ratio of 1.98 and a beta of 0.88. The company has a fifty day moving average price of $224.10 and a 200 day moving average price of $214.38. Avery Dennison has a 1-year low of $165.21 and a 1-year high of $231.53. The company has a current ratio of 0.87, a quick ratio of 0.58 and a debt-to-equity ratio of 0.94.

Avery Dennison (NYSE:AVY) last released its 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. The firm had revenue of $2.15 billion for the quarter, compared to analysts’ expectations of $2.15 billion. Avery Dennison had a return on equity of 32.59% and a net margin of 6.56%. Research analysts predict that Avery Dennison will post 9.32 earnings per share for the current fiscal year.

Avery Dennison Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Wednesday, June 5th were given a dividend of $0.88 per share. This is an increase from Avery Dennison’s previous quarterly dividend of $0.81. This represents a $3.52 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend was Wednesday, June 5th. Avery Dennison’s dividend payout ratio is currently 51.39%.

Insider Activity

In related news, insider Ryan D. Yost sold 584 shares of the business’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $221.31, for a total transaction of $129,245.04. Following the sale, the insider now owns 2,259 shares in the company, valued at approximately $499,939.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Avery Dennison news, insider Ryan D. Yost sold 584 shares of the company’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $221.31, for a total value of $129,245.04. Following the sale, the insider now owns 2,259 shares in the company, valued at approximately $499,939.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Francisco Melo sold 3,750 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $227.00, for a total transaction of $851,250.00. Following the transaction, the insider now owns 15,230 shares of the company’s stock, valued at approximately $3,457,210. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,583 shares of company stock worth $2,856,353. Corporate insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of AVY. Taylor Frigon Capital Management LLC grew its stake in Avery Dennison by 0.8% in the first quarter. Taylor Frigon Capital Management LLC now owns 6,386 shares of the industrial products company’s stock valued at $1,426,000 after acquiring an additional 48 shares during the period. Albert D Mason Inc. increased its position in shares of Avery Dennison by 0.7% during the first quarter. Albert D Mason Inc. now owns 7,456 shares of the industrial products company’s stock worth $1,665,000 after acquiring an additional 51 shares in the last quarter. Alliance Wealth Advisors LLC UT lifted its position in Avery Dennison by 1.5% in the 4th quarter. Alliance Wealth Advisors LLC UT now owns 3,840 shares of the industrial products company’s stock valued at $776,000 after acquiring an additional 56 shares in the last quarter. First Trust Direct Indexing L.P. lifted its holdings in shares of Avery Dennison by 5.0% in the fourth quarter. First Trust Direct Indexing L.P. now owns 1,198 shares of the industrial products company’s stock valued at $242,000 after purchasing an additional 57 shares in the last quarter. Finally, Condor Capital Management boosted its position in shares of Avery Dennison by 0.4% during the fourth quarter. Condor Capital Management now owns 13,716 shares of the industrial products company’s stock valued at $2,773,000 after buying an additional 60 shares during the last quarter. 94.17% of the stock is owned by institutional investors.

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.