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

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

Several other equities research analysts also recently commented on AVY. Bank of America downgraded shares of Avery Dennison from a buy rating to an underperform rating and set a $208.00 target price on the stock. in a research report on Tuesday, January 2nd. Raymond James restated an outperform rating and set a $240.00 price target (up previously from $225.00) on shares of Avery Dennison in a report on Thursday. Robert W. Baird raised their price target on shares of Avery Dennison from $215.00 to $230.00 and gave the stock an outperform rating in a report on Thursday. UBS Group raised their price target on shares of Avery Dennison from $225.00 to $230.00 and gave the stock a buy rating in a report on Thursday, January 11th. Finally, StockNews.com upgraded shares of Avery Dennison from a hold rating to a buy rating in a report on Monday, April 22nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $224.00.

Avery Dennison Stock Up 0.9 %

NYSE:AVY opened at $219.03 on Thursday. The firm’s 50 day simple moving average is $215.71 and its 200 day simple moving average is $200.58. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.87 and a quick ratio of 0.69. Avery Dennison has a one year low of $158.93 and a one year high of $225.26. The company has a market cap of $17.64 billion, a PE ratio of 31.98, a P/E/G ratio of 3.38 and a beta of 0.90.

Avery Dennison (NYSE:AVY) last posted its earnings results on Wednesday, January 31st. The industrial products company reported $2.16 EPS for the quarter, hitting the consensus estimate of $2.16. Avery Dennison had a net margin of 6.56% and a return on equity of 32.59%. The business had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.10 billion. During the same period last year, the company earned $1.65 EPS. The firm’s revenue was up 4.2% compared to the same quarter last year. On average, research analysts anticipate that Avery Dennison will post 9.26 earnings per share for the current year.

Avery Dennison Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Wednesday, June 5th will be paid a $0.88 dividend. The ex-dividend date is Wednesday, June 5th. This represents a $3.52 annualized dividend and a dividend yield of 1.61%. This is a positive change from Avery Dennison’s previous quarterly dividend of $0.81. Avery Dennison’s payout ratio is currently 51.39%.

Insider Activity

In related news, Chairman Mitchell R. Butier sold 8,168 shares of Avery Dennison stock in a transaction on Monday, March 4th. The shares were sold at an average price of $217.36, for a total value of $1,775,396.48. Following the completion of the sale, the chairman now owns 321,487 shares of the company’s stock, valued at approximately $69,878,414.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Chairman Mitchell R. Butier sold 8,168 shares of Avery Dennison stock in a transaction on Monday, March 4th. The shares were sold at an average price of $217.36, for a total value of $1,775,396.48. Following the completion of the sale, the chairman now owns 321,487 shares of the company’s stock, valued at approximately $69,878,414.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Ryan D. Yost sold 1,400 shares of Avery Dennison stock in a transaction on Monday, March 11th. The shares were sold at an average price of $213.29, for a total transaction of $298,606.00. Following the completion of the sale, the insider now directly owns 2,843 shares of the company’s stock, valued at approximately $606,383.47. The disclosure for this sale can be found here. Insiders sold 19,879 shares of company stock worth $4,217,705 in the last quarter. 1.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Avery Dennison

A number of hedge funds have recently bought and sold shares of the company. YHB Investment Advisors Inc. purchased a new position in Avery Dennison during the 1st quarter worth $104,000. SYSTM Wealth Solutions LLC boosted its holdings in Avery Dennison by 28.9% during the 1st quarter. SYSTM Wealth Solutions LLC now owns 30,115 shares of the industrial products company’s stock worth $6,723,000 after acquiring an additional 6,747 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in Avery Dennison by 88.7% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 50,752 shares of the industrial products company’s stock worth $11,330,000 after acquiring an additional 23,852 shares during the last quarter. Albert D Mason Inc. boosted its holdings in Avery Dennison by 0.7% during the 1st 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 during the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Avery Dennison by 11.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 6,860 shares of the industrial products company’s stock worth $1,531,000 after buying an additional 680 shares during the last quarter. 94.17% of the stock is owned by hedge funds and other 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.