Avery Dennison (NYSE:AVY) Price Target Raised to $245.00 at Argus

Avery Dennison (NYSE:AVY) had its target price raised by Argus from $240.00 to $245.00 in a research report sent to investors on Wednesday, Benzinga reports. Argus currently has a buy rating on the industrial products company’s stock.

Several other research analysts have also recently issued reports on the stock. UBS Group raised their target price 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. Robert W. Baird lifted their price objective 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. Citigroup lifted their price objective on shares of Avery Dennison from $223.00 to $234.00 and gave the company a neutral rating in a report on Thursday, April 4th. JPMorgan Chase & Co. lifted their price objective on shares of Avery Dennison from $218.00 to $220.00 and gave the company an overweight rating in a report on Thursday, April 25th. Finally, Truist Financial lifted their price objective on shares of Avery Dennison from $248.00 to $253.00 and gave the company a buy rating in a report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $228.50.

Avery Dennison Trading Up 0.5 %

Shares of Avery Dennison stock opened at $225.10 on Wednesday. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.87 and a quick ratio of 0.58. The firm has a fifty day moving average price of $216.95 and a 200 day moving average price of $202.69. Avery Dennison has a 1 year low of $158.93 and a 1 year high of $225.55. The stock has a market cap of $18.13 billion, a PE ratio of 32.86, a price-to-earnings-growth ratio of 3.41 and a beta of 0.91.

Avery Dennison Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Wednesday, June 5th will be given a $0.88 dividend. This is a positive change from Avery Dennison’s previous quarterly dividend of $0.81. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $3.52 annualized dividend and a dividend yield of 1.56%. Avery Dennison’s dividend payout ratio (DPR) is 51.39%.

Insider Activity

In other news, SVP Ignacio J. Walker sold 5,000 shares of Avery Dennison stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $213.90, for a total value of $1,069,500.00. Following the sale, the senior vice president now owns 6,102 shares in the company, valued at $1,305,217.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Chairman Mitchell R. Butier sold 8,168 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $217.36, for a total transaction of $1,775,396.48. Following the transaction, the chairman now directly owns 321,487 shares in the company, valued at $69,878,414.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Ignacio J. Walker sold 5,000 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president now 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 a total of 14,568 shares of company stock worth $3,143,502 over the last 90 days. 1.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Avery Dennison

A number of institutional investors and hedge funds have recently bought and sold shares of AVY. Cerity Partners LLC boosted its position in Avery Dennison by 4,159.9% during the fourth quarter. Cerity Partners LLC now owns 1,191,228 shares of the industrial products company’s stock worth $240,819,000 after acquiring an additional 1,163,264 shares during the last quarter. Norges Bank purchased a new position in Avery Dennison during the fourth quarter worth about $185,292,000. Morgan Stanley raised its stake in Avery Dennison by 55.7% during the third 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 period. Ameriprise Financial Inc. raised its stake in Avery Dennison by 22.7% during the third 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 period. Finally, Boston Partners raised its stake in Avery Dennison by 43.9% during the third quarter. Boston Partners now owns 1,007,542 shares of the industrial products company’s stock worth $184,026,000 after purchasing an additional 307,325 shares during the period. 94.17% of the stock is currently 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.