Avery Dennison (NYSE:AVY) Stock Rating Reaffirmed by Raymond James

Raymond James reaffirmed their outperform rating on shares of Avery Dennison (NYSE:AVY - Free Report) in a research note published on Thursday morning, Benzinga reports. They currently have a $240.00 price objective on the industrial products company's stock, up from their prior price objective of $225.00.

AVY has been the subject of a number of other research reports. Bank of America downgraded Avery Dennison from a buy rating to an underperform rating and set a $208.00 target price for the company. in a report on Tuesday, January 2nd. UBS Group raised their price objective on Avery Dennison from $225.00 to $230.00 and gave the company a buy rating in a research note on Thursday, January 11th. StockNews.com raised Avery Dennison from a hold rating to a buy rating in a research note on Monday. Truist Financial restated a buy rating and set a $249.00 target price on shares of Avery Dennison in a research report on Friday, January 19th. Finally, JPMorgan Chase & Co. lifted their price objective on Avery Dennison from $185.00 to $218.00 and gave the stock an overweight rating in a research report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $223.60.

Avery Dennison Stock Performance

AVY traded up $4.67 on Thursday, reaching $217.09. The company had a trading volume of 672,113 shares, compared to its average volume of 443,686. Avery Dennison has a 1 year low of $158.93 and a 1 year high of $225.26. The stock has a market capitalization of $17.48 billion, a PE ratio of 34.75, a P/E/G ratio of 3.26 and a beta of 0.90. The company has a quick ratio of 0.69, a current ratio of 1.04 and a debt-to-equity ratio of 1.23. The stock has a 50-day moving average price of $215.34 and a 200-day moving average price of $200.01.

Avery Dennison (NYSE:AVY - Get Free Report) last posted its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $2.16 EPS for the quarter, meeting the consensus estimate of $2.16. The firm had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.10 billion. Avery Dennison had a return on equity of 30.97% and a net margin of 6.01%. The firm's revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.65 EPS. As a group, research analysts forecast that Avery Dennison will post 9.26 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were given a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date was Tuesday, March 5th. Avery Dennison's dividend payout ratio (DPR) is presently 52.17%.

Insider Buying and Selling

In other news, 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 of the company's stock, valued at $606,383.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Avery Dennison news, insider Ryan D. Yost sold 1,400 shares of the stock in a transaction that occurred 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 of the company's stock, valued at $606,383.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Mitchell R. Butier sold 8,168 shares of the firm's 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 sale, the chairman now directly owns 321,487 shares of the company's stock, valued at $69,878,414.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,879 shares of company stock valued at $4,217,705. 1.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Avery Dennison

A number of hedge funds have recently bought and sold shares of the business. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of Avery Dennison by 88.7% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 50,752 shares of the industrial products company's stock worth $11,330,000 after purchasing an additional 23,852 shares during the last quarter. Albert D Mason Inc. lifted its stake in shares of Avery Dennison by 0.7% in the 1st quarter. Albert D Mason Inc. now owns 7,456 shares of the industrial products company's stock worth $1,665,000 after acquiring an additional 51 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Avery Dennison by 11.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 6,860 shares of the industrial products company's stock valued at $1,531,000 after buying an additional 680 shares during the period. Win Advisors Inc. acquired a new stake in Avery Dennison in the 1st quarter valued at about $296,000. Finally, Adams Diversified Equity Fund Inc. acquired a new stake in shares of Avery Dennison during the 1st quarter valued at $5,782,000. 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.