Avery Dennison Co. (NYSE:AVY – Get Free Report) announced a quarterly dividend on Friday, October 25th, Zacks reports. Stockholders of record on Wednesday, December 4th will be paid a dividend of 0.88 per share by the industrial products company on Wednesday, December 18th. This represents a $3.52 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend is Wednesday, December 4th.
Avery Dennison has raised its dividend payment by an average of 10.5% annually over the last three years and has raised its dividend every year for the last 14 years. Avery Dennison has a payout ratio of 33.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Avery Dennison to earn $10.50 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 33.5%.
Avery Dennison Price Performance
AVY stock traded up $2.20 during midday trading on Friday, hitting $207.16. 797,830 shares of the stock were exchanged, compared to its average volume of 465,828. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.60 and a current ratio of 0.90. The stock has a market cap of $16.69 billion, a price-to-earnings ratio of 30.26, a PEG ratio of 1.78 and a beta of 0.88. Avery Dennison has a fifty-two week low of $165.21 and a fifty-two week high of $233.48. The stock’s 50-day moving average price is $216.73 and its 200-day moving average price is $218.45.
Wall Street Analyst Weigh In
AVY has been the subject of several research reports. Barclays assumed coverage on Avery Dennison in a research report on Monday, October 7th. They set an “overweight” rating and a $250.00 price objective for the company. UBS Group cut Avery Dennison from a “buy” rating to a “neutral” rating and cut their price target for the stock from $262.00 to $235.00 in a report on Thursday, July 25th. JPMorgan Chase & Co. lowered Avery Dennison from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $230.00 to $210.00 in a research note on Thursday. Citigroup reduced their target price on shares of Avery Dennison from $241.00 to $240.00 and set a “neutral” rating on the stock in a report on Wednesday, October 2nd. Finally, BMO Capital Markets decreased their price target on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a research note on Thursday. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $245.42.
View Our Latest Stock Report on Avery Dennison
Insider Activity at Avery Dennison
In other Avery Dennison news, Chairman Mitchell R. Butier sold 7,108 shares of Avery Dennison stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $218.12, for a total value of $1,550,396.96. Following the transaction, the chairman now owns 304,114 shares in the company, valued at $66,333,345.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Chairman Mitchell R. Butier sold 7,108 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $218.12, for a total value of $1,550,396.96. Following the transaction, the chairman now directly owns 304,114 shares of the company’s stock, valued at approximately $66,333,345.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Mitchell R. Butier sold 10,000 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $214.21, for a total value of $2,142,100.00. Following the sale, the chairman now owns 304,114 shares of the company’s stock, valued at $65,144,259.94. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 59,108 shares of company stock worth $12,545,087. 1.10% of the stock is owned by company insiders.
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.
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