UBS Group Lowers Avery Dennison (NYSE:AVY) Price Target to $252.00

Avery Dennison (NYSE:AVY) had its target price reduced by UBS Group from $260.00 to $252.00 in a research note released on Tuesday, Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

AVY has been the subject of several other research reports. StockNews.com raised shares of Avery Dennison from a hold rating to a buy rating in a report on Monday, April 22nd. Robert W. Baird boosted their price target on shares of Avery Dennison from $230.00 to $250.00 and gave the company an outperform rating in a report on Friday, June 7th. Stifel Nicolaus initiated coverage on shares of Avery Dennison in a research report on Tuesday. They issued a buy rating and a $274.60 price target for the company. Raymond James reaffirmed an outperform rating and set a $240.00 price objective (up previously from $225.00) on shares of Avery Dennison in a research report on Thursday, April 25th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Avery Dennison from $218.00 to $220.00 and gave the stock an overweight rating in a research note on Thursday, April 25th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Avery Dennison currently has a consensus rating of Moderate Buy and a consensus price target of $237.15.

Avery Dennison Trading Up 0.6 %

NYSE:AVY opened at $217.84 on Tuesday. The firm has a market capitalization of $17.55 billion, a PE ratio of 32.04, a price-to-earnings-growth ratio of 1.98 and a beta of 0.88. Avery Dennison has a 12 month low of $165.21 and a 12 month high of $231.53. The business’s 50-day moving average is $224.10 and its two-hundred day moving average is $214.38. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.87 and a quick ratio of 0.58.

Avery Dennison (NYSE:AVY) last released its quarterly earnings results on Wednesday, April 24th. The industrial products company reported $2.29 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.14. The business had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.15 billion. Avery Dennison had a net margin of 6.56% and a return on equity of 32.59%. Research analysts predict that Avery Dennison will post 9.32 earnings per share for the current fiscal year.

Avery Dennison Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Wednesday, June 5th were paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.62%. The ex-dividend date was Wednesday, June 5th. This is an increase from Avery Dennison’s previous quarterly dividend of $0.81. Avery Dennison’s payout ratio is currently 51.39%.

Insider Activity at Avery Dennison

In other news, insider Ryan D. Yost sold 584 shares of Avery Dennison stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $221.31, for a total value of $129,245.04. Following the completion of the sale, the insider now directly owns 2,259 shares of the company’s stock, valued at approximately $499,939.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Deena Baker-Nel sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $228.17, for a total value of $684,510.00. Following the completion of the transaction, the senior vice president now directly owns 1,577 shares in the company, valued at approximately $359,824.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ryan D. Yost sold 584 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $221.31, for a total transaction of $129,245.04. Following the completion of the sale, the insider now directly owns 2,259 shares in the company, valued at $499,939.29. The disclosure for this sale can be found here. Insiders sold 12,583 shares of company stock valued at $2,856,353 in the last three months. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of Avery Dennison

A number of institutional investors have recently made changes to their positions in AVY. Morgan Stanley raised its position in shares of Avery Dennison by 55.7% in the third quarter. Morgan Stanley now owns 1,788,321 shares of the industrial products company’s stock valued at $326,673,000 after purchasing an additional 639,521 shares during the period. Comerica Bank acquired a new stake in Avery Dennison in the third quarter valued at $16,800,000. Anchor Investment Management LLC bought a new position in Avery Dennison during the 4th quarter worth approximately $42,000. Diversified Trust Co increased its stake in shares of Avery Dennison by 0.6% in the 4th quarter. Diversified Trust Co now owns 12,985 shares of the industrial products company’s stock valued at $2,625,000 after acquiring an additional 83 shares in the last quarter. Finally, Dfpg Investments LLC raised its holdings in shares of Avery Dennison by 12.5% during the fourth quarter. Dfpg Investments LLC now owns 1,426 shares of the industrial products company’s stock valued at $281,000 after purchasing an additional 159 shares during the period. Institutional investors own 94.17% of the company’s stock.

About Avery Dennison

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.