Avery Dennison Co. (NYSE:AVY) Receives Consensus Rating of “Moderate Buy” from Brokerages

Avery Dennison Co. (NYSE:AVY) has received a consensus rating of “Moderate Buy” from the eleven research firms that are covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $235.05.

A number of research firms have weighed in on AVY. BMO Capital Markets decreased their target price on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. JPMorgan Chase & Co. downgraded shares of Avery Dennison from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $230.00 to $210.00 in a research report on Thursday, October 24th. UBS Group reduced their price objective on shares of Avery Dennison from $235.00 to $207.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. StockNews.com downgraded shares of Avery Dennison from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, Bank of America reduced their price objective on shares of Avery Dennison from $238.00 to $220.00 and set a “buy” rating for the company in a research report on Monday, January 6th.

Insider Buying and Selling at Avery Dennison

In other Avery Dennison news, SVP Nicholas Colisto sold 3,679 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $206.00, for a total transaction of $757,874.00. Following the transaction, the senior vice president now directly owns 7,126 shares in the company, valued at approximately $1,467,956. This trade represents a 34.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Avery Dennison

A number of hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC raised its stake in shares of Avery Dennison by 8.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,088,516 shares of the industrial products company’s stock worth $459,621,000 after purchasing an additional 157,754 shares during the period. Victory Capital Management Inc. increased its holdings in Avery Dennison by 6.8% in the 3rd quarter. Victory Capital Management Inc. now owns 1,416,798 shares of the industrial products company’s stock worth $312,772,000 after acquiring an additional 90,250 shares during the last quarter. Meridiem Investment Management Ltd. increased its holdings in Avery Dennison by 0.7% in the 3rd quarter. Meridiem Investment Management Ltd. now owns 794,092 shares of the industrial products company’s stock worth $175,261,000 after acquiring an additional 5,756 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Avery Dennison by 4.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 787,716 shares of the industrial products company’s stock worth $172,254,000 after acquiring an additional 32,467 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in Avery Dennison by 0.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 699,541 shares of the industrial products company’s stock worth $154,431,000 after acquiring an additional 3,118 shares during the last quarter. 94.17% of the stock is currently owned by institutional investors.

Avery Dennison Stock Down 1.0 %

Shares of NYSE AVY opened at $190.57 on Thursday. The firm has a market cap of $15.31 billion, a PE ratio of 22.88, a price-to-earnings-growth ratio of 1.34 and a beta of 0.89. The company has a 50 day simple moving average of $194.60 and a 200 day simple moving average of $207.44. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.92 and a quick ratio of 0.62. Avery Dennison has a 1 year low of $181.99 and a 1 year high of $233.48.

Avery Dennison (NYSE:AVY) last released its earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $2.32 by $0.01. The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.20 billion. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.10 EPS. On average, research analysts forecast that Avery Dennison will post 9.41 EPS for the current year.

Avery Dennison Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th were paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend was Wednesday, December 4th. Avery Dennison’s dividend payout ratio (DPR) is presently 42.26%.

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.