Avery Dennison (NYSE:AVY) Price Target Cut to $189.00 by Analysts at UBS Group

Avery Dennison (NYSE:AVY - Free Report) had its target price reduced by UBS Group from $207.00 to $189.00 in a research note released on Monday,Benzinga reports. They currently have a neutral rating on the industrial products company's stock.

Several other research firms have also recently commented on AVY. Bank of America cut their price target on Avery Dennison from $238.00 to $220.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Barclays decreased their price target on shares of Avery Dennison from $245.00 to $225.00 and set an "overweight" rating for the company in a research report on Monday, February 3rd. Citigroup cut their price target on shares of Avery Dennison from $228.00 to $202.00 and set a "neutral" rating on the stock in a report on Monday, January 6th. BMO Capital Markets set a $226.00 price target on shares of Avery Dennison in a research report on Monday, February 3rd. Finally, Robert W. Baird set a $220.00 price objective on Avery Dennison in a report on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Avery Dennison has an average rating of "Moderate Buy" and a consensus price target of $220.87.

Avery Dennison Stock Up 1.7 %

Shares of NYSE:AVY traded up $2.81 during midday trading on Monday, hitting $169.39. 1,090,810 shares of the company's stock traded hands, compared to its average volume of 577,832. The firm's fifty day moving average price is $178.64 and its two-hundred day moving average price is $192.82. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08. Avery Dennison has a twelve month low of $157.00 and a twelve month high of $233.48. The company has a market cap of $13.38 billion, a PE ratio of 19.43, a P/E/G ratio of 2.07 and a beta of 0.85.

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Avery Dennison (NYSE:AVY - Get Free Report) last posted its earnings results on Thursday, January 30th. The industrial products company reported $2.38 EPS 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%. On average, equities research analysts anticipate that Avery Dennison will post 9.96 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend was Wednesday, March 5th. Avery Dennison's payout ratio is 40.37%.

Insider Buying and Selling at Avery Dennison

In related news, Chairman Mitchell R. Butier sold 12,969 shares of Avery Dennison stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $181.85, for a total transaction of $2,358,412.65. Following the sale, the chairman now directly owns 303,331 shares in the company, valued at $55,160,742.35. The trade was a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.84% of the stock is owned by company insiders.

Hedge Funds Weigh In On Avery Dennison

Several large investors have recently bought and sold shares of the stock. Janus Henderson Group PLC increased its stake in shares of Avery Dennison by 3.4% during the third quarter. Janus Henderson Group PLC now owns 9,133 shares of the industrial products company's stock valued at $2,016,000 after acquiring an additional 300 shares during the period. Royal London Asset Management Ltd. increased its position in shares of Avery Dennison by 2.8% during the 3rd quarter. Royal London Asset Management Ltd. now owns 32,969 shares of the industrial products company's stock valued at $7,278,000 after purchasing an additional 893 shares during the period. Kovitz Investment Group Partners LLC bought a new stake in shares of Avery Dennison in the 3rd quarter worth $451,000. EP Wealth Advisors LLC lifted its holdings in shares of Avery Dennison by 286.3% in the third quarter. EP Wealth Advisors LLC now owns 4,381 shares of the industrial products company's stock valued at $967,000 after buying an additional 3,247 shares during the period. Finally, iA Global Asset Management Inc. boosted its stake in Avery Dennison by 405.2% during the third quarter. iA Global Asset Management Inc. now owns 2,829 shares of the industrial products company's stock valued at $625,000 after buying an additional 2,269 shares in the last quarter. Institutional investors and hedge funds own 94.17% of the company's stock.

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.