Avery Dennison (NYSE:AVY) PT Raised to $220.00 at JPMorgan Chase & Co.

Avery Dennison (NYSE:AVY) had its price objective upped by JPMorgan Chase & Co. from $218.00 to $220.00 in a research note published on Thursday morning, Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

AVY has been the topic of a number of other research reports. Citigroup boosted their price objective on shares of Avery Dennison from $223.00 to $234.00 and gave the stock a neutral rating in a report on Thursday, April 4th. Truist Financial reaffirmed a buy rating and issued a $249.00 target price on shares of Avery Dennison in a research report on Friday, January 19th. StockNews.com raised shares of Avery Dennison from a hold rating to a buy rating in a report on Monday. UBS Group increased their price target on shares of Avery Dennison from $225.00 to $230.00 and gave the stock a buy rating in a research report on Thursday, January 11th. Finally, Raymond James reissued an outperform rating and issued a $240.00 price objective (up from $225.00) on shares of Avery Dennison in a report on Thursday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $223.60.

Avery Dennison Trading Up 0.7 %

AVY traded up $1.58 during trading on Thursday, hitting $218.74. 5,498 shares of the company’s stock were exchanged, compared to its average volume of 438,661. Avery Dennison has a 1 year low of $158.93 and a 1 year high of $225.26. The stock has a 50 day moving average price of $215.51 and a 200 day moving average price of $200.13. The firm has a market cap of $17.61 billion, a P/E ratio of 31.69, a price-to-earnings-growth ratio of 3.28 and a beta of 0.90. The company has a current ratio of 0.87, a quick ratio of 0.69 and a debt-to-equity ratio of 0.94.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $2.16 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.16. Avery Dennison had a net margin of 6.56% and a return on equity of 32.59%. The firm had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.10 billion. During the same period in the prior year, the company earned $1.65 EPS. The firm’s revenue was up 4.2% on a year-over-year basis. As a group, analysts expect that Avery Dennison will post 9.26 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were paid a dividend of $0.81 per share. The ex-dividend date was Tuesday, March 5th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 1.48%. Avery Dennison’s dividend payout ratio is presently 47.30%.

Insider Buying and Selling at Avery Dennison

In other news, Director Julia A. Stewart sold 5,311 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $202.26, for a total transaction of $1,074,202.86. Following the completion of the transaction, the director now owns 5,018 shares in the company, valued at approximately $1,014,940.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Julia A. Stewart sold 5,311 shares of Avery Dennison stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $202.26, for a total value of $1,074,202.86. Following the transaction, the director now directly owns 5,018 shares in the company, valued at approximately $1,014,940.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ryan D. Yost sold 1,400 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $213.29, for a total value of $298,606.00. Following the completion of the transaction, the insider now owns 2,843 shares of the company’s stock, valued at approximately $606,383.47. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,879 shares of company stock valued at $4,217,705. 1.10% of the stock is owned by corporate insiders.

Institutional Trading of Avery Dennison

A number of hedge funds have recently modified their holdings of the business. Ameriprise Financial Inc. increased its position in Avery Dennison by 22.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,670,469 shares of the industrial products company’s stock worth $487,857,000 after purchasing an additional 493,857 shares during the last quarter. Morgan Stanley lifted its holdings in Avery Dennison by 55.7% in the 3rd quarter. Morgan Stanley now owns 1,788,321 shares of the industrial products company’s stock worth $326,673,000 after purchasing an additional 639,521 shares during the last quarter. Cerity Partners LLC boosted its holdings in shares of Avery Dennison by 4,159.9% during the 4th quarter. Cerity Partners LLC now owns 1,191,228 shares of the industrial products company’s stock worth $240,819,000 after buying an additional 1,163,264 shares during the period. Truist Financial Corp boosted its holdings in shares of Avery Dennison by 5.5% during the 3rd quarter. Truist Financial Corp now owns 1,096,524 shares of the industrial products company’s stock worth $200,302,000 after buying an additional 57,106 shares during the period. Finally, Boston Partners grew its stake in Avery Dennison by 43.9% in the 3rd quarter. Boston Partners now owns 1,007,542 shares of the industrial products company’s stock valued at $184,026,000 after buying an additional 307,325 shares during the last quarter. Hedge funds and other institutional investors own 94.17% 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.