Avery Dennison Co. (NYSE:AVY) Given Consensus Recommendation of "Moderate Buy" by Analysts

Avery Dennison Co. (NYSE:AVY - Get Free Report) has earned an average recommendation of "Moderate Buy" from the eleven analysts that are covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $222.51.

A number of research analysts recently issued reports on the company. Barclays lowered their target price on Avery Dennison from $245.00 to $225.00 and set an "overweight" rating on the stock in a report on Monday, February 3rd. Raymond James reiterated an "outperform" rating and issued a $208.00 target price (down from $218.00) on shares of Avery Dennison in a report on Friday, January 31st. JPMorgan Chase & Co. upgraded shares of Avery Dennison from a "neutral" rating to an "overweight" rating and reduced their target price for the stock from $210.00 to $205.00 in a report on Friday, January 31st. Truist Financial reiterated a "buy" rating and set a $215.00 price objective (down previously from $245.00) on shares of Avery Dennison in a research report on Friday, January 31st. Finally, BMO Capital Markets set a $226.00 price objective on Avery Dennison in a research note on Monday, February 3rd.

Insider Buying and Selling

In other Avery Dennison news, Chairman Mitchell R. Butier sold 12,969 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $181.85, for a total value of $2,358,412.65. Following the completion of the sale, the chairman now owns 303,331 shares in the company, valued at $55,160,742.35. This represents a 4.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.84% of the stock is currently owned by corporate insiders.

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Institutional Trading of Avery Dennison

Institutional investors have recently bought and sold shares of the company. Nordea Investment Management AB raised its stake in shares of Avery Dennison by 485.2% during the 4th quarter. Nordea Investment Management AB now owns 35,630 shares of the industrial products company's stock worth $6,715,000 after purchasing an additional 29,541 shares in the last quarter. Meyer Handelman Co. bought a new position in Avery Dennison during the fourth quarter valued at approximately $4,263,000. JPMorgan Chase & Co. raised its position in Avery Dennison by 12.4% during the third quarter. JPMorgan Chase & Co. now owns 420,232 shares of the industrial products company's stock valued at $92,771,000 after acquiring an additional 46,390 shares in the last quarter. Unigestion Holding SA acquired a new stake in Avery Dennison in the third quarter valued at approximately $6,701,000. Finally, Fifth Third Wealth Advisors LLC bought a new stake in Avery Dennison in the fourth quarter worth approximately $218,000. Institutional investors and hedge funds own 94.17% of the company's stock.

Avery Dennison Price Performance

AVY traded down $6.04 on Tuesday, reaching $170.30. The company had a trading volume of 1,781,064 shares, compared to its average volume of 552,960. The company has a market capitalization of $13.45 billion, a P/E ratio of 19.53, a PEG ratio of 2.07 and a beta of 0.85. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 1.10. The company has a fifty day moving average of $181.82 and a 200-day moving average of $195.09. Avery Dennison has a one year low of $168.77 and a one year high of $233.48.

Avery Dennison (NYSE:AVY - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.39 by ($0.01). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. As a group, equities research analysts anticipate that Avery Dennison will post 9.96 earnings per share for the current year.

Avery Dennison Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were issued a $0.88 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.07%. Avery Dennison's dividend payout ratio is 40.37%.

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.