Avery Dennison Co. to Issue Quarterly Dividend of $0.88 (NYSE:AVY)

Avery Dennison Co. (NYSE:AVY - Get Free Report) announced a quarterly dividend on Thursday, January 30th,Wall Street Journal reports. Shareholders of record on Wednesday, March 5th will be paid a dividend of 0.88 per share by the industrial products company on Wednesday, March 19th. This represents a $3.52 annualized dividend and a dividend yield of 1.93%. The ex-dividend date is Wednesday, March 5th.

Avery Dennison has raised its dividend payment by an average of 9.1% per year over the last three years and has increased its dividend every year for the last 15 years. Avery Dennison has a dividend payout ratio of 30.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Avery Dennison to earn $11.00 per share next year, which means the company should continue to be able to cover its $3.52 annual dividend with an expected future payout ratio of 32.0%.

Avery Dennison Stock Performance

Shares of AVY stock traded down $0.60 on Tuesday, hitting $182.75. 725,855 shares of the stock were exchanged, compared to its average volume of 789,807. The firm's 50 day moving average is $192.72 and its two-hundred day moving average is $205.59. Avery Dennison has a one year low of $179.20 and a one year high of $233.48. The firm has a market capitalization of $14.68 billion, a PE ratio of 20.96, a P/E/G ratio of 1.37 and a beta of 0.89. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 1.10.

Avery Dennison (NYSE:AVY - Get Free Report) last issued its earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share for the quarter, missing analysts' consensus estimates of $2.39 by ($0.01). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. Sell-side analysts expect that Avery Dennison will post 10.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AVY. UBS Group dropped their price objective on Avery Dennison from $235.00 to $207.00 and set a "neutral" rating on the stock in a report on Friday, January 10th. Truist Financial restated a "buy" rating and issued a $215.00 price objective (down from $245.00) on shares of Avery Dennison in a research report on Friday. Barclays reduced their price objective on shares of Avery Dennison from $245.00 to $225.00 and set an "overweight" rating for the company in a research note on Monday. Raymond James reiterated an "outperform" rating and issued a $208.00 target price (down from $218.00) on shares of Avery Dennison in a research note on Friday. Finally, StockNews.com lowered shares of Avery Dennison from a "buy" rating to a "hold" rating in a research report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $227.15.

Insider Buying and Selling

In other news, SVP Nicholas Colisto sold 3,679 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $206.00, for a total value of $757,874.00. Following the transaction, the senior vice president now owns 7,126 shares in the company, valued at approximately $1,467,956. This trade represents a 34.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is owned by corporate insiders.

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.