Avery Dennison (NYSE:AVY) Price Target Increased to $230.00 by Analysts at Robert W. Baird

Avery Dennison (NYSE:AVY) had its price objective hoisted by Robert W. Baird from $215.00 to $230.00 in a report issued on Thursday morning, Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

Other equities research analysts have also issued reports about the stock. StockNews.com raised shares of Avery Dennison from a hold rating to a buy rating in a report on Monday. Raymond James upped their price objective on shares of Avery Dennison from $199.00 to $225.00 and gave the stock an outperform rating in a research report on Thursday, January 25th. Truist Financial reiterated a buy rating and issued a $249.00 price objective on shares of Avery Dennison in a research report on Friday, January 19th. UBS Group upped their price objective 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, JPMorgan Chase & Co. upped their price objective on shares of Avery Dennison from $185.00 to $218.00 and gave the stock an overweight rating in a research report on Thursday, February 1st. 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. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $223.60.

Avery Dennison Price Performance

Shares of AVY opened at $217.09 on Thursday. The firm has a market capitalization of $17.48 billion, a PE ratio of 31.69, a price-to-earnings-growth ratio of 3.28 and a beta of 0.90. 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 1-year low of $158.93 and a 1-year high of $225.26. The company’s fifty day moving average price is $215.51 and its 200-day moving average price is $200.13.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $2.16 earnings per share for the quarter, meeting 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 for the quarter, compared to analyst estimates of $2.10 billion. During the same period in the previous year, the company earned $1.65 earnings per share. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, equities research analysts predict that Avery Dennison will post 9.26 EPS for the current year.

Avery Dennison Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were paid a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend was Tuesday, March 5th. Avery Dennison’s dividend payout ratio is presently 47.30%.

Insiders Place Their Bets

In other Avery Dennison news, Chairman Mitchell R. Butier sold 8,168 shares of the firm’s stock in a transaction that occurred 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 transaction, 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 filing with the Securities & Exchange Commission, which is available at the SEC website. In other Avery Dennison news, Chairman Mitchell R. Butier sold 8,168 shares of the firm’s stock in a transaction that occurred 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 transaction, 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Ignacio J. Walker sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $213.90, for a total transaction of $1,069,500.00. Following the completion of the transaction, the senior vice president now directly owns 6,102 shares in the company, valued at $1,305,217.80. The disclosure for this sale can be found here. Insiders have sold 19,879 shares of company stock valued at $4,217,705 in the last ninety days. 1.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Avery Dennison

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Ameriprise Financial Inc. increased its holdings in shares of Avery Dennison by 22.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,670,469 shares of the industrial products company’s stock worth $487,857,000 after buying an additional 493,857 shares during the last quarter. Morgan Stanley increased 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 valued at $326,673,000 after purchasing an additional 639,521 shares during the last quarter. Cerity Partners LLC increased its holdings in Avery Dennison by 4,159.9% in the 4th quarter. Cerity Partners LLC now owns 1,191,228 shares of the industrial products company’s stock valued at $240,819,000 after purchasing an additional 1,163,264 shares during the last quarter. Truist Financial Corp increased its holdings in Avery Dennison by 5.5% in the 3rd quarter. Truist Financial Corp now owns 1,096,524 shares of the industrial products company’s stock valued at $200,302,000 after purchasing an additional 57,106 shares during the last quarter. Finally, Boston Partners increased its holdings 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 purchasing an additional 307,325 shares during the last quarter. Institutional investors and hedge funds 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.