Analysts Set Avery Dennison Co. (NYSE:AVY) Price Target at $235.05

Shares of Avery Dennison Co. (NYSE:AVY) have been given an average recommendation of “Moderate Buy” by the eleven research firms that are currently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $235.05.

AVY has been the topic of a number of research reports. Citigroup cut their target price on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. BMO Capital Markets cut their price objective on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. JPMorgan Chase & Co. downgraded Avery Dennison from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $230.00 to $210.00 in a report on Thursday, October 24th. Bank of America lowered their target price on Avery Dennison from $238.00 to $220.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, Barclays reduced their price target on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th.

Insider Transactions at Avery Dennison

In other Avery Dennison news, SVP Nicholas Colisto sold 3,679 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $206.00, for a total value of $757,874.00. Following the transaction, the senior vice president now owns 7,126 shares of the company’s stock, valued at approximately $1,467,956. This represents a 34.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Avery Dennison

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC boosted its holdings in shares of Avery Dennison by 8.2% in the third quarter. Geode Capital Management LLC now owns 2,088,516 shares of the industrial products company’s stock worth $459,621,000 after buying an additional 157,754 shares during the last quarter. Victory Capital Management Inc. raised its position in Avery Dennison by 6.8% in the third quarter. Victory Capital Management Inc. now owns 1,416,798 shares of the industrial products company’s stock worth $312,772,000 after acquiring an additional 90,250 shares during the period. Meridiem Investment Management Ltd. boosted its stake in shares of Avery Dennison by 0.7% during the 3rd quarter. Meridiem Investment Management Ltd. now owns 794,092 shares of the industrial products company’s stock worth $175,261,000 after acquiring an additional 5,756 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Avery Dennison by 4.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 787,716 shares of the industrial products company’s stock valued at $172,254,000 after acquiring an additional 32,467 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Avery Dennison by 0.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 699,541 shares of the industrial products company’s stock worth $154,431,000 after purchasing an additional 3,118 shares in the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Avery Dennison Trading Down 0.1 %

AVY opened at $191.07 on Thursday. The firm has a market capitalization of $15.35 billion, a price-to-earnings ratio of 22.94, a PEG ratio of 1.29 and a beta of 0.89. Avery Dennison has a one year low of $181.99 and a one year high of $233.48. The business has a 50 day simple moving average of $194.80 and a two-hundred day simple moving average of $207.61. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.92 and a quick ratio of 0.62.

Avery Dennison (NYSE:AVY) last announced its earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $2.32 by $0.01. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.20 billion. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.10 earnings per share. Analysts predict that Avery Dennison will post 9.41 EPS for the current year.

Avery Dennison Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th were paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend was Wednesday, December 4th. Avery Dennison’s dividend 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.