Robert W. Baird Lowers Avery Dennison (NYSE:AVY) Price Target to $210.00

Avery Dennison (NYSE:AVY) had its price objective lowered by Robert W. Baird from $220.00 to $210.00 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has an outperform rating on the industrial products company’s stock.

Several other research analysts also recently commented on the company. Bank of America decreased their price objective on Avery Dennison from $238.00 to $220.00 and set a “buy” rating on the stock in a report on Monday, January 6th. JPMorgan Chase & Co. downgraded Avery Dennison from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $205.00 to $172.00 in a research report on Thursday. Raymond James cut their target price on shares of Avery Dennison from $208.00 to $194.00 and set an “outperform” rating on the stock in a report on Tuesday. Citigroup dropped their price target on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Finally, Truist Financial decreased their price objective on shares of Avery Dennison from $215.00 to $210.00 and set a “buy” rating on the stock in a research report on Tuesday. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Avery Dennison has a consensus rating of “Moderate Buy” and an average price target of $210.63.

Avery Dennison Price Performance

AVY opened at $173.62 on Thursday. The stock has a 50-day moving average price of $176.76 and a 200-day moving average price of $190.10. The stock has a market capitalization of $13.63 billion, a P/E ratio of 19.91, a PEG ratio of 2.07 and a beta of 0.85. Avery Dennison has a 12-month low of $157.00 and a 12-month high of $233.48. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 1.10.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings data on Wednesday, April 23rd. The industrial products company reported $2.30 earnings per share for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.02). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. The business had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.15 billion. Equities analysts predict that Avery Dennison will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date was Wednesday, March 5th. Avery Dennison’s dividend payout ratio (DPR) is presently 40.37%.

Insider Buying and Selling at Avery Dennison

In related news, Chairman Mitchell R. Butier sold 12,969 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $181.85, for a total transaction of $2,358,412.65. Following the completion of the transaction, the chairman now owns 303,331 shares of the company’s stock, valued at $55,160,742.35. This trade represents a 4.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.84% of the company’s stock.

Hedge Funds Weigh In On Avery Dennison

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Avery Dennison by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 9,681,709 shares of the industrial products company’s stock valued at $1,811,738,000 after purchasing an additional 33,149 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of Avery Dennison by 3.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,225,309 shares of the industrial products company’s stock worth $790,683,000 after purchasing an additional 150,572 shares in the last quarter. Ameriprise Financial Inc. raised its position in Avery Dennison by 12.9% in the 4th quarter. Ameriprise Financial Inc. now owns 2,185,732 shares of the industrial products company’s stock worth $409,014,000 after buying an additional 250,359 shares during the last quarter. Geode Capital Management LLC lifted its position in Avery Dennison by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 2,102,331 shares of the industrial products company’s stock valued at $392,445,000 after purchasing an additional 13,815 shares during the period. Finally, Lazard Asset Management LLC boosted its holdings in Avery Dennison by 4.0% in the fourth quarter. Lazard Asset Management LLC now owns 1,841,520 shares of the industrial products company’s stock worth $344,603,000 after purchasing an additional 71,435 shares during the last quarter. Hedge funds and other institutional investors 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.