Avery Dennison Corporation (NYSE:AVY) Stock Has Average Target Price of $199.10

Shares of Avery Dennison Corporation (NYSE:AVY) have earned a consensus recommendation of “Moderate Buy” from the nine research firms that are presently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $201.10.

AVY has been the topic of a number of research analyst reports. UBS Group boosted their target price on Avery Dennison from $225.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, October 30th. Wall Street Zen lowered shares of Avery Dennison from a “buy” rating to a “hold” rating in a research report on Saturday. JPMorgan Chase & Co. upped their price target on shares of Avery Dennison from $190.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, October 30th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $181.00 price target on shares of Avery Dennison in a report on Monday, September 28th. Finally, Citigroup lifted their target price on Avery Dennison from $186.00 to $191.00 and gave the company a “neutral” rating in a report on Monday.

Insider Activity at Avery Dennison

In other Avery Dennison news, SVP Nicholas Colisto sold 3,886 shares of Avery Dennison stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $170.68, for a total transaction of $663,262.48. Following the transaction, the senior vice president directly owned 7,126 shares of the company’s stock, valued at approximately $1,216,265.68. This trade represents a 35.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.81% of the company’s stock.

Institutional Investors Weigh In On Avery Dennison

Several institutional investors and hedge funds have recently bought and sold shares of AVY. BlackRock Inc. purchased a new stake in Avery Dennison in the second quarter valued at approximately $1,052,464,000. Wellington Management Group LLP increased its position in Avery Dennison by 9.1% during the 2nd quarter. Wellington Management Group LLP now owns 5,788,479 shares of the industrial products company’s stock worth $939,760,000 after purchasing an additional 482,054 shares during the period. Ninety One UK Ltd purchased a new position in Avery Dennison in the third quarter worth $341,344,000. Robeco Institutional Asset Management B.V. increased its holdings in shares of Avery Dennison by 2,376.0% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 984,976 shares of the industrial products company’s stock valued at $168,106,000 after purchasing an additional 945,195 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Avery Dennison by 1.9% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 956,886 shares of the industrial products company’s stock worth $155,350,000 after acquiring an additional 17,769 shares during the period. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Avery Dennison Trading Down 0.7%

Shares of AVY stock opened at $185.66 on Wednesday. The company has a current ratio of 1.16, a quick ratio of 0.80 and a debt-to-equity ratio of 1.33. Avery Dennison has a 1-year low of $152.42 and a 1-year high of $199.54. The stock has a 50-day moving average of $174.34 and a 200-day moving average of $172.27. The stock has a market cap of $14.07 billion, a price-to-earnings ratio of 20.09, a PEG ratio of 2.20 and a beta of 0.77.

Avery Dennison (NYSE:AVY) last released its earnings results on Thursday, October 29th. The industrial products company reported $2.42 EPS for the quarter, topping the consensus estimate of $2.32 by $0.10. Avery Dennison had a return on equity of 33.88% and a net margin of 7.56%. The business had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.26 billion. During the same quarter last year, the firm posted $2.37 earnings per share. The firm’s revenue was up 5.2% on a year-over-year basis. On average, equities research analysts forecast that Avery Dennison will post 10.17 earnings per share for the current year.

Avery Dennison Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 16th. Stockholders of record on Wednesday, December 2nd will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Wednesday, December 2nd. Avery Dennison’s dividend payout ratio is presently 43.29%.

About Avery Dennison

Avery Dennison Corporation (NYSE: AVY) is a global materials science and manufacturing company that develops and produces labeling, packaging, graphic, and functional materials. Its products are used by businesses across industries including consumer goods, retail, logistics, apparel, automotive, healthcare, and industrial manufacturing.

The company’s offerings include pressure-sensitive labels and label materials, adhesives, industrial and specialty tapes, graphic films, and packaging materials.