Avery Dennison (NYSE:AVY) Price Target Raised to $220.00 at JPMorgan Chase & Co.

Avery Dennison (NYSE:AVY) had its target price upped by JPMorgan Chase & Co. from $218.00 to $220.00 in a report issued on Thursday morning, Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

Several other analysts have also recently commented on AVY. UBS Group increased their target price on Avery Dennison from $225.00 to $230.00 and gave the stock a buy rating in a report on Thursday, January 11th. Truist Financial restated a buy rating and issued a $249.00 price objective on shares of Avery Dennison in a research report on Friday, January 19th. StockNews.com upgraded shares of Avery Dennison from a hold rating to a buy rating in a research report on Monday. Citigroup boosted their price objective on shares of Avery Dennison from $223.00 to $234.00 and gave the stock a neutral rating in a research report on Thursday, April 4th. Finally, Bank of America cut Avery Dennison from a buy rating to an underperform rating and set a $208.00 price target on the stock. in a report on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $223.60.

Avery Dennison Price Performance

Shares of NYSE:AVY traded up $1.58 during midday trading on Thursday, reaching $218.74. 5,498 shares of the company’s stock were exchanged, compared to its average volume of 438,661. The firm has a market capitalization of $17.61 billion, a PE ratio of 31.69, a price-to-earnings-growth ratio of 3.28 and a beta of 0.90. The company’s 50 day simple moving average is $215.51 and its two-hundred day simple moving average is $200.13. Avery Dennison has a 12 month low of $158.93 and a 12 month high of $225.26. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.69 and a current ratio of 0.87.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $2.16 EPS for the quarter, meeting the consensus estimate of $2.16. Avery Dennison had a return on equity of 32.59% and a net margin of 6.56%. The business had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.10 billion. During the same quarter in the previous year, the firm earned $1.65 EPS. Avery Dennison’s quarterly revenue was up 4.2% on a year-over-year basis. Equities research analysts expect that Avery Dennison will post 9.26 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were paid a $0.81 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $3.24 dividend on an annualized basis and a yield of 1.48%. Avery Dennison’s payout ratio is 47.30%.

Insider Transactions at Avery Dennison

In other news, insider Ryan D. Yost sold 1,400 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $213.29, for a total transaction of $298,606.00. Following the completion of the sale, the insider now owns 2,843 shares of the company’s stock, valued at $606,383.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Chairman Mitchell R. Butier sold 8,168 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $217.36, for a total transaction of $1,775,396.48. Following the completion of the transaction, the chairman now directly owns 321,487 shares in the company, valued at approximately $69,878,414.32. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Ryan D. Yost sold 1,400 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $213.29, for a total transaction of $298,606.00. Following the completion of the sale, the insider now owns 2,843 shares in the company, valued at approximately $606,383.47. The disclosure for this sale can be found here. Insiders have sold a total of 19,879 shares of company stock valued at $4,217,705 over the last 90 days. 1.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Avery Dennison

A number of institutional investors and hedge funds have recently bought and sold shares of AVY. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Avery Dennison during the 3rd quarter worth approximately $32,000. Milestone Investment Advisors LLC bought a new stake in shares of Avery Dennison in the third quarter worth $36,000. Anchor Investment Management LLC bought a new position in Avery Dennison during the 4th quarter worth $42,000. VisionPoint Advisory Group LLC bought a new stake in shares of Avery Dennison in the 4th quarter valued at about $42,000. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of Avery Dennison by 164.4% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 267 shares of the industrial products company’s stock worth $54,000 after acquiring an additional 166 shares during the period. Institutional investors and hedge funds own 94.17% of the company’s stock.

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.