Brokerages Set Avery Dennison Co. (NYSE:AVY) PT at $244.96

Shares of Avery Dennison Co. (NYSE:AVY) have been assigned an average recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the company, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $244.96.

Several research analysts have commented on the company. Citigroup cut their price target on Avery Dennison from $241.00 to $240.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 2nd. BMO Capital Markets cut their target price on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. JPMorgan Chase & Co. cut shares of Avery Dennison from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $230.00 to $210.00 in a research note on Thursday, October 24th. Barclays dropped their price objective on shares of Avery Dennison from $250.00 to $245.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. Finally, Bank of America upgraded shares of Avery Dennison from an “underperform” rating to a “buy” rating and increased their target price for the stock from $207.00 to $250.00 in a research note on Thursday, October 17th.

Insiders Place Their Bets

In other Avery Dennison news, SVP Nicholas Colisto sold 3,679 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $206.00, for a total transaction of $757,874.00. Following the sale, the senior vice president now directly owns 7,126 shares in the company, valued at approximately $1,467,956. The trade was a 34.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is currently owned by insiders.

Institutional Trading of Avery Dennison

Several hedge funds and other institutional investors have recently made changes to their positions in AVY. Raymond James Trust N.A. boosted its stake in shares of Avery Dennison by 1.8% during the 2nd quarter. Raymond James Trust N.A. now owns 7,174 shares of the industrial products company’s stock worth $1,569,000 after acquiring an additional 127 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Avery Dennison by 2.7% in the second quarter. Bank of New York Mellon Corp now owns 646,223 shares of the industrial products company’s stock valued at $141,297,000 after purchasing an additional 17,158 shares during the last quarter. Bailard Inc. increased its position in shares of Avery Dennison by 0.5% in the second quarter. Bailard Inc. now owns 12,202 shares of the industrial products company’s stock valued at $2,668,000 after buying an additional 61 shares in the last quarter. State of Michigan Retirement System raised its stake in shares of Avery Dennison by 4.5% during the 2nd quarter. State of Michigan Retirement System now owns 23,087 shares of the industrial products company’s stock worth $5,048,000 after buying an additional 1,000 shares during the last quarter. Finally, Kintegral Advisory LLC grew its stake in Avery Dennison by 6.6% in the 2nd quarter. Kintegral Advisory LLC now owns 1,862 shares of the industrial products company’s stock valued at $407,000 after acquiring an additional 115 shares during the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.

Avery Dennison Stock Down 0.4 %

Shares of NYSE:AVY opened at $188.51 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85. The firm has a 50 day simple moving average of $200.96 and a 200-day simple moving average of $211.73. The company has a market capitalization of $15.15 billion, a PE ratio of 22.63, a P/E/G ratio of 1.52 and a beta of 0.87. Avery Dennison has a twelve month low of $185.73 and a twelve month high of $233.48.

Avery Dennison (NYSE:AVY) last released its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.01. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter in the prior year, the firm posted $2.10 earnings per share. Avery Dennison’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, equities analysts predict that Avery Dennison will post 9.42 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th were given a $0.88 dividend. The ex-dividend date was Wednesday, December 4th. This represents a $3.52 dividend on an annualized basis and a yield of 1.87%. Avery Dennison’s payout ratio is currently 42.26%.

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.