Avery Dennison Co. Declares Quarterly Dividend of $0.88 (NYSE:AVY)

Avery Dennison Co. (NYSE:AVY) announced a quarterly dividend on Friday, January 31st,Wall Street Journal reports. Stockholders of record on Wednesday, March 5th will be paid a dividend of 0.88 per share by the industrial products company on Wednesday, March 19th. This represents a $3.52 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend is Wednesday, March 5th.

Avery Dennison has increased its dividend payment by an average of 9.1% per year over the last three years and has increased its dividend annually for the last 15 consecutive years. Avery Dennison has a dividend payout ratio of 30.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Avery Dennison to earn $10.34 per share next year, which means the company should continue to be able to cover its $3.52 annual dividend with an expected future payout ratio of 34.0%.

Avery Dennison Price Performance

Shares of AVY opened at $185.85 on Friday. The company has a market capitalization of $14.93 billion, a price-to-earnings ratio of 22.31, a price-to-earnings-growth ratio of 1.38 and a beta of 0.89. Avery Dennison has a fifty-two week low of $179.20 and a fifty-two week high of $233.48. The firm has a 50-day simple moving average of $193.21 and a 200-day simple moving average of $205.99. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.92.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.39 by ($0.01). Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. On average, equities research analysts anticipate that Avery Dennison will post 9.41 earnings per share for the current year.

Wall Street Analyst Weigh In

AVY has been the subject of several analyst reports. Barclays cut their price target on shares of Avery Dennison from $250.00 to $245.00 and set an “overweight” rating for the company in a report on Monday, October 28th. Truist Financial reaffirmed a “buy” rating and issued a $215.00 target price (down from $245.00) on shares of Avery Dennison in a report on Friday. StockNews.com cut shares of Avery Dennison from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Citigroup dropped their target price on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Finally, Bank of America dropped their target price on shares of Avery Dennison from $238.00 to $220.00 and set a “buy” rating for the company in a report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $228.96.

Insider Transactions at Avery Dennison

In other news, SVP Nicholas Colisto sold 3,679 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 7,126 shares of the company’s stock, valued at $1,467,956. This trade represents a 34.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.10% of the company’s stock.

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.