Avery Dennison (NYSE:AVY) Given New $254.00 Price Target at BMO Capital Markets

Avery Dennison (NYSE:AVY) had its price target reduced by BMO Capital Markets from $256.00 to $254.00 in a report issued on Wednesday morning, Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

A number of other equities analysts have also commented on the stock. Truist Financial raised their price objective on shares of Avery Dennison from $253.00 to $258.00 and gave the stock a buy rating in a research note on Wednesday. Stifel Nicolaus initiated coverage on shares of Avery Dennison in a research note on Tuesday, July 9th. They issued a buy rating and a $274.60 price objective for the company. JPMorgan Chase & Co. lifted their target price on shares of Avery Dennison from $218.00 to $220.00 and gave the company an overweight rating in a research note on Thursday, April 25th. Argus lifted their target price on shares of Avery Dennison from $240.00 to $245.00 and gave the company a buy rating in a research note on Wednesday, May 8th. Finally, Robert W. Baird lifted their target price on shares of Avery Dennison from $230.00 to $250.00 and gave the company an outperform rating in a research note on Friday, June 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $239.96.

Avery Dennison Stock Performance

AVY opened at $213.73 on Wednesday. Avery Dennison has a twelve month low of $165.21 and a twelve month high of $233.48. The company has a current ratio of 0.90, a quick ratio of 0.58 and a debt-to-equity ratio of 0.89. The stock has a market cap of $17.22 billion, a PE ratio of 31.20, a price-to-earnings-growth ratio of 1.86 and a beta of 0.88. The business’s 50 day moving average is $222.84 and its 200-day moving average is $215.90.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.16. Avery Dennison had a net margin of 7.34% and a return on equity of 33.44%. The firm had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.18 billion. During the same quarter in the previous year, the business posted $1.92 earnings per share. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, analysts predict that Avery Dennison will post 9.36 earnings per share for the current year.

Avery Dennison Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend is Wednesday, September 4th. Avery Dennison’s payout ratio is presently 51.39%.

Insider Activity at Avery Dennison

In related news, insider Francisco Melo sold 3,750 shares of Avery Dennison stock in a transaction on Monday, May 20th. The shares were sold at an average price of $227.00, for a total value of $851,250.00. Following the completion of the sale, the insider now owns 15,230 shares of the company’s stock, valued at approximately $3,457,210. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, SVP Deena Baker-Nel sold 3,000 shares of Avery Dennison stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $228.17, for a total value of $684,510.00. Following the transaction, the senior vice president now owns 1,577 shares in the company, valued at approximately $359,824.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Francisco Melo sold 3,750 shares of Avery Dennison stock in a transaction on Monday, May 20th. The stock was sold at an average price of $227.00, for a total transaction of $851,250.00. Following the completion of the transaction, the insider now owns 15,230 shares in the company, valued at approximately $3,457,210. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,583 shares of company stock valued at $2,856,353. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. VisionPoint Advisory Group LLC bought a new position in shares of Avery Dennison during the 4th quarter worth about $42,000. 1620 Investment Advisors Inc. bought a new position in shares of Avery Dennison during the 2nd quarter worth about $51,000. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in shares of Avery Dennison by 164.4% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 267 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 166 shares during the period. Palisade Asset Management LLC bought a new position in shares of Avery Dennison during the 1st quarter worth about $64,000. Finally, Versant Capital Management Inc increased its holdings in shares of Avery Dennison by 936.7% during the 2nd quarter. Versant Capital Management Inc now owns 311 shares of the industrial products company’s stock worth $68,000 after purchasing an additional 281 shares during the period. Institutional investors 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.