Avery Dennison’s (AVY) “Buy” Rating Reiterated at Truist Financial

Truist Financial reaffirmed their buy rating on shares of Avery Dennison (NYSE:AVY) in a research report released on Friday,Benzinga reports. They currently have a $215.00 target price on the industrial products company’s stock, down from their previous target price of $245.00.

Several other equities analysts have also weighed in on the stock. Barclays cut their price objective on shares of Avery Dennison from $250.00 to $245.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. UBS Group cut their price target on Avery Dennison from $235.00 to $207.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. JPMorgan Chase & Co. raised Avery Dennison from a “neutral” rating to an “overweight” rating and decreased their price objective for the stock from $210.00 to $205.00 in a research note on Friday. Citigroup cut their target price on Avery Dennison from $228.00 to $202.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Finally, BMO Capital Markets decreased their target price on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Avery Dennison has an average rating of “Moderate Buy” and an average price target of $228.96.

Avery Dennison Stock Up 1.8 %

NYSE AVY opened at $185.85 on Friday. The stock has a market capitalization of $14.93 billion, a P/E ratio of 22.31, a price-to-earnings-growth ratio of 1.38 and a beta of 0.89. Avery Dennison has a 52 week low of $179.20 and a 52 week high of $233.48. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.92. The stock has a fifty day moving average of $193.21 and a 200-day moving average of $205.99.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.38 EPS for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.01). Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. On average, equities research analysts forecast that Avery Dennison will post 9.41 EPS for the current year.

Avery Dennison Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be issued a dividend of $0.88 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $3.52 annualized dividend and a yield of 1.89%. Avery Dennison’s dividend payout ratio (DPR) is currently 40.37%.

Insider Activity

In other news, SVP Nicholas Colisto sold 3,679 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $206.00, for a total value of $757,874.00. Following the sale, the senior vice president now directly owns 7,126 shares in the company, valued at $1,467,956. The trade was a 34.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Avery Dennison

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Venturi Wealth Management LLC grew its stake in shares of Avery Dennison by 32.4% during the 4th quarter. Venturi Wealth Management LLC now owns 4,492 shares of the industrial products company’s stock worth $841,000 after acquiring an additional 1,100 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in Avery Dennison by 3.5% during the fourth quarter. CIBC Asset Management Inc now owns 16,148 shares of the industrial products company’s stock worth $3,022,000 after purchasing an additional 553 shares during the last quarter. Allworth Financial LP grew its position in Avery Dennison by 127.6% in the fourth quarter. Allworth Financial LP now owns 1,957 shares of the industrial products company’s stock valued at $373,000 after purchasing an additional 1,097 shares in the last quarter. Figure 8 Investment Strategies LLC acquired a new stake in Avery Dennison in the 4th quarter valued at $1,461,000. Finally, Vontobel Holding Ltd. lifted its position in Avery Dennison by 11.7% during the 4th quarter. Vontobel Holding Ltd. now owns 1,434 shares of the industrial products company’s stock worth $268,000 after buying an additional 150 shares in the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.

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.