Avery Dennison (NYSE:AVY) Price Target Raised to $245.00

Avery Dennison (NYSE:AVY - Free Report) had its price objective hoisted by Argus from $240.00 to $245.00 in a report issued on Wednesday, Benzinga reports. Argus currently has a buy rating on the industrial products company's stock.

AVY has been the topic of several other research reports. Citigroup raised their price objective on shares of Avery Dennison from $223.00 to $234.00 and gave the company a neutral rating in a research report on Thursday, April 4th. Truist Financial lifted their price objective on shares of Avery Dennison from $248.00 to $253.00 and gave the company a buy rating in a research note on Friday, April 26th. Robert W. Baird boosted their price target on Avery Dennison from $215.00 to $230.00 and gave the stock an outperform rating in a research report on Thursday, April 25th. Raymond James reiterated an outperform rating and set a $240.00 price target (up previously from $225.00) on shares of Avery Dennison in a report on Thursday, April 25th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Avery Dennison from $218.00 to $220.00 and gave the stock an overweight rating in a report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $228.50.

Avery Dennison Stock Up 0.5 %

Shares of Avery Dennison stock traded up $1.20 on Wednesday, hitting $225.10. 423,239 shares of the company traded hands, compared to its average volume of 443,764. The company has a quick ratio of 0.58, a current ratio of 0.87 and a debt-to-equity ratio of 0.94. Avery Dennison has a 12-month low of $158.93 and a 12-month high of $225.55. The company has a 50-day moving average price of $216.74 and a 200 day moving average price of $202.53. The company has a market cap of $18.13 billion, a PE ratio of 32.84, a PEG ratio of 3.41 and a beta of 0.91.

Avery Dennison Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Wednesday, June 5th will be issued a $0.88 dividend. This is a boost from Avery Dennison's previous quarterly dividend of $0.81. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $3.52 annualized dividend and a yield of 1.56%. Avery Dennison's dividend payout ratio (DPR) is currently 51.39%.

Insider Buying and Selling at Avery Dennison

In other news, Chairman Mitchell R. Butier sold 8,168 shares of Avery Dennison stock in a transaction on Monday, March 4th. The shares were sold at an average price of $217.36, for a total transaction of $1,775,396.48. Following the transaction, the chairman now directly owns 321,487 shares of the company's stock, valued at $69,878,414.32. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Chairman Mitchell R. Butier sold 8,168 shares of Avery Dennison stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $217.36, for a total transaction of $1,775,396.48. Following the completion of the transaction, the chairman now directly owns 321,487 shares in the company, valued at approximately $69,878,414.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ryan D. Yost sold 1,400 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $213.29, for a total value of $298,606.00. Following the completion of the sale, the insider now owns 2,843 shares in the company, valued at approximately $606,383.47. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,568 shares of company stock valued at $3,143,502. 1.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AVY. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Avery Dennison in the 3rd quarter worth about $32,000. Milestone Investment Advisors LLC acquired a new stake in Avery Dennison during the third quarter worth approximately $36,000. Anchor Investment Management LLC bought a new position in Avery Dennison during the 4th quarter worth $42,000. VisionPoint Advisory Group LLC acquired a new position in Avery Dennison in the 4th quarter valued at $42,000. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its position 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 valued at $54,000 after acquiring an additional 166 shares during the period. 94.17% of the stock is owned by institutional investors.

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.