Avery Dennison (NYSE:AVY) Given New $210.00 Price Target at Truist Financial

Avery Dennison (NYSE:AVY) had its target price reduced by Truist Financial from $215.00 to $210.00 in a report published on Tuesday,Benzinga reports. Truist Financial currently has a buy rating on the industrial products company’s stock.

Several other brokerages also recently issued reports on AVY. Robert W. Baird set a $220.00 price objective on shares of Avery Dennison in a research report on Friday, January 31st. Citigroup reduced their price objective on Avery Dennison from $228.00 to $202.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. UBS Group dropped their target price on Avery Dennison from $207.00 to $189.00 and set a “neutral” rating on the stock in a report on Monday, April 7th. Bank of America decreased their price target on Avery Dennison from $238.00 to $220.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, BMO Capital Markets set a $226.00 price objective on shares of Avery Dennison in a research note on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $215.47.

Avery Dennison Stock Performance

Shares of AVY stock opened at $175.21 on Tuesday. Avery Dennison has a 1 year low of $157.00 and a 1 year high of $233.48. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08. The firm has a market cap of $13.76 billion, a price-to-earnings ratio of 20.09, a PEG ratio of 2.07 and a beta of 0.85. The stock’s 50-day moving average is $177.15 and its two-hundred day moving average is $190.52.

Avery Dennison (NYSE:AVY) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.38 EPS for the quarter, missing the consensus estimate of $2.39 by ($0.01). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. Analysts predict that Avery Dennison will post 9.96 earnings per share for the current year.

Avery Dennison Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were given a dividend of $0.88 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $3.52 dividend on an annualized basis and a yield of 2.01%. Avery Dennison’s payout ratio is 40.37%.

Insider Activity

In related news, Chairman Mitchell R. Butier sold 8,068 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $186.19, for a total value of $1,502,180.92. Following the sale, the chairman now directly owns 316,300 shares of the company’s stock, valued at approximately $58,891,897. This represents a 2.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.84% of the company’s stock.

Institutional Trading of Avery Dennison

Several large investors have recently modified their holdings of AVY. Regents Gate Capital LLP acquired a new stake in Avery Dennison during the 4th quarter valued at $37,000. American National Bank & Trust acquired a new stake in shares of Avery Dennison during the first quarter valued at $49,000. Spire Wealth Management increased its position in Avery Dennison by 76.0% during the 4th quarter. Spire Wealth Management now owns 301 shares of the industrial products company’s stock worth $56,000 after purchasing an additional 130 shares in the last quarter. AdvisorNet Financial Inc raised its stake in Avery Dennison by 18.8% in the 4th quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company’s stock valued at $69,000 after purchasing an additional 58 shares during the last quarter. Finally, VisionPoint Advisory Group LLC purchased a new position in Avery Dennison in the 4th quarter valued at about $68,000. 94.17% of the stock is currently owned by institutional investors and hedge funds.

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.