Avery Dennison (NYSE:AVY) PT Raised to $253.00 at Truist Financial

Avery Dennison (NYSE:AVY) had its price objective increased by Truist Financial from $248.00 to $253.00 in a report published on Friday, Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

AVY has been the topic of several other research reports. Citigroup increased their target price on Avery Dennison from $223.00 to $234.00 and gave the stock a neutral rating in a report on Thursday, April 4th. UBS Group raised their price objective on shares of Avery Dennison from $225.00 to $230.00 and gave the company a buy rating in a research report on Thursday, January 11th. StockNews.com upgraded shares of Avery Dennison from a hold rating to a buy rating in a research report on Monday, April 22nd. Robert W. Baird raised their price target on shares of Avery Dennison from $215.00 to $230.00 and gave the company an outperform rating in a report on Thursday, April 25th. Finally, Bank of America downgraded Avery Dennison from a buy rating to an underperform rating and set a $208.00 price objective on the stock. in a report on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $224.00.

Avery Dennison Stock Down 0.3 %

Shares of NYSE AVY opened at $218.39 on Friday. The business has a fifty day moving average of $215.91 and a two-hundred day moving average of $200.82. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.58 and a current ratio of 0.87. Avery Dennison has a 52-week low of $158.93 and a 52-week high of $225.26. The stock has a market cap of $17.58 billion, a PE ratio of 31.88, a PEG ratio of 3.38 and a beta of 0.90.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $2.16 earnings per share 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 firm had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.10 billion. During the same period in the prior year, the firm earned $1.65 earnings per share. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. As a group, equities research analysts expect that Avery Dennison will post 9.26 earnings per share for the current fiscal year.

Avery Dennison Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Wednesday, June 5th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend is Wednesday, June 5th. This is an increase from Avery Dennison’s previous quarterly dividend of $0.81. Avery Dennison’s dividend payout ratio is presently 47.30%.

Insider Transactions 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 stock was sold at an average price of $202.26, for a total transaction of $1,074,202.86. Following the sale, the director now owns 5,018 shares of the company’s stock, valued at $1,014,940.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Chairman Mitchell R. Butier sold 8,168 shares of the business’s 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 sale, the chairman now directly 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 Securities & Exchange Commission, which is available at this hyperlink. Also, Director Julia A. Stewart sold 5,311 shares of the stock in a transaction dated 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 owns 5,018 shares of the company’s stock, valued at approximately $1,014,940.68. The disclosure for this sale can be found here. Insiders have sold a total of 19,879 shares of company stock valued at $4,217,705 over the last three months. 1.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of AVY. Ameriprise Financial Inc. lifted its stake 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 valued at $487,857,000 after acquiring an additional 493,857 shares in the last quarter. Morgan Stanley raised its holdings in shares of Avery Dennison by 55.7% in the third quarter. Morgan Stanley now owns 1,788,321 shares of the industrial products company’s stock valued at $326,673,000 after purchasing an additional 639,521 shares during the last quarter. Cerity Partners LLC lifted its position in shares of Avery Dennison by 4,159.9% in the fourth quarter. Cerity Partners LLC now owns 1,191,228 shares of the industrial products company’s stock worth $240,819,000 after purchasing an additional 1,163,264 shares in the last quarter. Truist Financial Corp boosted its holdings in Avery Dennison by 5.5% during the third quarter. Truist Financial Corp now owns 1,096,524 shares of the industrial products company’s stock worth $200,302,000 after purchasing an additional 57,106 shares during the last quarter. Finally, Boston Partners increased 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. 94.17% of the stock is owned by institutional investors and hedge funds.

Avery Dennison Company Profile

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.