Avery Dennison (NYSE:AVY) PT Lowered to $254.00 at BMO Capital Markets

Avery Dennison (NYSE:AVY) had its target price trimmed by BMO Capital Markets from $256.00 to $254.00 in a research report report published on Wednesday, Benzinga reports. The brokerage currently has an outperform rating on the industrial products company’s stock.

A number of other brokerages also recently commented on AVY. Stifel Nicolaus assumed coverage on shares of Avery Dennison in a research report on Tuesday, July 9th. They issued a buy rating and a $274.60 price objective on the stock. Robert W. Baird increased their target price on shares of Avery Dennison from $230.00 to $250.00 and gave the company an outperform rating in a research report on Friday, June 7th. UBS Group dropped their target price on shares of Avery Dennison from $260.00 to $252.00 and set a buy rating on the stock in a research report on Tuesday, July 9th. Citigroup increased their target price on shares of Avery Dennison from $230.00 to $241.00 and gave the company a neutral rating in a research report on Monday, July 8th. Finally, Raymond James reaffirmed an outperform rating and issued a $240.00 target price (up from $225.00) on shares of Avery Dennison in a research report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Avery Dennison currently has an average rating of Moderate Buy and a consensus price target of $239.96.

Avery Dennison Price Performance

Shares of AVY opened at $213.73 on Wednesday. Avery Dennison has a fifty-two week low of $165.21 and a fifty-two week high of $233.48. The firm’s 50 day moving average price is $222.84 and its 200 day moving average price is $215.90. The company has a quick ratio of 0.58, a current ratio of 0.90 and a debt-to-equity ratio of 0.89. The company has a market cap of $17.22 billion, a P/E ratio of 31.20, a PEG ratio of 1.86 and a beta of 0.88.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.16. Avery Dennison had a net margin of 7.34% and a return on equity of 33.44%. The company had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.18 billion. During the same period in the prior year, the firm posted $1.92 EPS. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, research analysts forecast that Avery Dennison will post 9.36 earnings per share for the current fiscal year.

Avery Dennison Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th will be issued a $0.88 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.65%. Avery Dennison’s dividend payout ratio is presently 51.39%.

Insider Activity

In other news, CFO Gregory Lovins sold 2,894 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $227.20, for a total value of $657,516.80. Following the completion of the transaction, the chief financial officer now owns 67,457 shares in the company, valued at approximately $15,326,230.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Avery Dennison news, CFO Gregory Lovins sold 2,894 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $227.20, for a total transaction of $657,516.80. Following the completion of the transaction, the chief financial officer now directly owns 67,457 shares in the company, valued at approximately $15,326,230.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ryan D. Yost sold 584 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $221.31, for a total transaction of $129,245.04. Following the transaction, the insider now owns 2,259 shares of the company’s stock, valued at $499,939.29. The disclosure for this sale can be found here. Insiders sold 12,583 shares of company stock worth $2,856,353 in the last 90 days. 1.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Avery Dennison

Several hedge funds have recently added to or reduced their stakes in AVY. VisionPoint Advisory Group LLC purchased a new position in Avery Dennison during the 4th quarter valued at about $42,000. 1620 Investment Advisors Inc. purchased a new position in Avery Dennison during the 2nd quarter valued at about $51,000. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of Avery Dennison by 164.4% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 267 shares of the industrial products company’s stock worth $54,000 after buying an additional 166 shares in the last quarter. Palisade Asset Management LLC purchased a new stake in shares of Avery Dennison during the first quarter worth about $64,000. Finally, Versant Capital Management Inc grew its holdings in shares of Avery Dennison by 936.7% during the second quarter. Versant Capital Management Inc now owns 311 shares of the industrial products company’s stock worth $68,000 after buying an additional 281 shares in the last quarter. 94.17% of the stock is currently owned by hedge funds and other 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.