Avery Dennison’s (AVY) Outperform Rating Reiterated at Raymond James

Raymond James reiterated their outperform rating on shares of Avery Dennison (NYSE:AVY) in a report published on Friday morning,Benzinga reports. Raymond James currently has a $208.00 target price on the industrial products company’s stock, down from their previous target price of $218.00.

Other research analysts have also issued reports about the company. StockNews.com lowered Avery Dennison from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Bank of America cut their price objective on shares of Avery Dennison from $238.00 to $220.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. JPMorgan Chase & Co. raised shares of Avery Dennison from a “neutral” rating to an “overweight” rating and decreased their target price for the company from $210.00 to $205.00 in a research report on Friday. Barclays lowered their target price on shares of Avery Dennison from $250.00 to $245.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. Finally, BMO Capital Markets decreased their price objective on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $228.96.

Avery Dennison Stock Up 1.8 %

Shares of Avery Dennison stock opened at $185.85 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.92 and a quick ratio of 0.62. The stock has a market cap of $14.93 billion, a price-to-earnings ratio of 22.31, a PEG ratio of 1.38 and a beta of 0.89. The firm’s 50-day moving average is $193.21 and its two-hundred day moving average is $205.99. Avery Dennison has a 1 year low of $179.20 and a 1 year high of $233.48.

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

Avery Dennison Dividend Announcement

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

Insider Activity

In other news, SVP Nicholas Colisto sold 3,679 shares of the company’s stock in a transaction on Monday, November 25th. The shares were 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 of the company’s stock, valued at $1,467,956. This represents a 34.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its stake in shares of Avery Dennison by 8.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,088,516 shares of the industrial products company’s stock valued at $459,621,000 after buying an additional 157,754 shares during the last quarter. Victory Capital Management Inc. raised its position in Avery Dennison by 6.8% during the third quarter. Victory Capital Management Inc. now owns 1,416,798 shares of the industrial products company’s stock valued at $312,772,000 after acquiring an additional 90,250 shares in the last quarter. World Investment Advisors LLC lifted its holdings in Avery Dennison by 2,629.0% in the third quarter. World Investment Advisors LLC now owns 91,857 shares of the industrial products company’s stock valued at $20,278,000 after acquiring an additional 88,491 shares during the period. Ferguson Wellman Capital Management Inc. boosted its position in Avery Dennison by 135.6% in the 4th quarter. Ferguson Wellman Capital Management Inc. now owns 146,830 shares of the industrial products company’s stock worth $27,476,000 after purchasing an additional 84,501 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Avery Dennison by 12.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 420,232 shares of the industrial products company’s stock worth $92,771,000 after purchasing an additional 46,390 shares during the period. 94.17% of the stock is currently owned by institutional investors and hedge funds.

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.