Avery Dennison Corp (NYSE:AVY) has been assigned a consensus recommendation of “Buy” from the eight research firms that are presently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $94.50.
Several equities research analysts have recently commented on AVY shares. Aegis restated a “hold” rating on shares of Avery Dennison Corp in a research note on Thursday, June 1st. BidaskClub upgraded shares of Avery Dennison Corp from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 28th. Zacks Investment Research downgraded shares of Avery Dennison Corp from a “buy” rating to a “hold” rating in a research note on Friday, May 19th. Bank of America Corporation upgraded shares of Avery Dennison Corp from a “neutral” rating to a “buy” rating and boosted their target price for the company from $90.00 to $96.00 in a research note on Tuesday, June 20th. Finally, Citigroup Inc. boosted their target price on shares of Avery Dennison Corp from $106.00 to $108.00 and gave the company a “buy” rating in a research note on Wednesday, July 26th.
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Avery Dennison Corp (NYSE AVY) opened at 93.05 on Tuesday. The company has a market capitalization of $8.22 billion, a P/E ratio of 21.86 and a beta of 1.18. The stock has a 50 day moving average of $90.28 and a 200-day moving average of $83.05. Avery Dennison Corp has a 52-week low of $68.55 and a 52-week high of $96.70.
Avery Dennison Corp (NYSE:AVY) last posted its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.10. Avery Dennison Corp had a net margin of 7.43% and a return on equity of 46.53%. The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the previous year, the company earned $1.09 earnings per share. The business’s revenue was up 5.7% compared to the same quarter last year. On average, equities analysts forecast that Avery Dennison Corp will post $4.83 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, September 6th will be given a dividend of $0.45 per share. The ex-dividend date is Friday, September 1st. This represents a $1.80 annualized dividend and a yield of 1.93%. Avery Dennison Corp’s dividend payout ratio (DPR) is 42.25%.
In related news, Director Anthony Anderson sold 950 shares of the company’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $84.42, for a total transaction of $80,199.00. Following the transaction, the director now owns 7,492 shares in the company, valued at approximately $632,474.64. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Deon Stander sold 5,000 shares of the company’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $84.50, for a total transaction of $422,500.00. Following the transaction, the vice president now owns 10,998 shares in the company, valued at approximately $929,331. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,198 shares of company stock worth $1,971,016. 1.40% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Pegasus Partners Ltd. increased its position in shares of Avery Dennison Corp by 2.3% in the fourth quarter. Pegasus Partners Ltd. now owns 12,531 shares of the industrial products company’s stock valued at $880,000 after buying an additional 276 shares during the period. Kentucky Retirement Systems bought a new position in shares of Avery Dennison Corp during the fourth quarter valued at about $453,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Avery Dennison Corp during the fourth quarter valued at $202,000. Macquarie Group Ltd. boosted its stake in shares of Avery Dennison Corp by 314.8% in the fourth quarter. Macquarie Group Ltd. now owns 11,200 shares of the industrial products company’s stock valued at $787,000 after buying an additional 8,500 shares in the last quarter. Finally, Chevy Chase Trust Holdings Inc. boosted its stake in shares of Avery Dennison Corp by 74.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 130,392 shares of the industrial products company’s stock valued at $10,510,000 after buying an additional 55,542 shares in the last quarter. Institutional investors and hedge funds own 86.78% of the company’s stock.
About Avery Dennison Corp
Avery Dennison Corporation (Avery Dennison) is engaged in the production of pressure-sensitive materials and a range of tickets, tags, labels and other converted products. The Company’s segments include Label and Graphic Materials (LGM); Retail Branding and Information Solutions (RBIS), and Industrial and Healthcare Materials (IHM).
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