Avery Dennison (NYSE:AVY) Reaches New 1-Year High at $229.21

Avery Dennison Co. (NYSE:AVYGet Free Report)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $229.21 and last traded at $229.14, with a volume of 391333 shares trading hands. The stock had previously closed at $226.05.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AVY. Raymond James reissued an “outperform” rating and set a $240.00 price objective (up previously from $225.00) on shares of Avery Dennison in a report on Thursday, April 25th. JPMorgan Chase & Co. upped their price objective on shares of Avery Dennison from $218.00 to $220.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Citigroup lifted their target price on Avery Dennison from $223.00 to $234.00 and gave the stock a “neutral” rating in a research report on Thursday, April 4th. Argus upped their target price on Avery Dennison from $240.00 to $245.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Finally, Truist Financial lifted their price target on Avery Dennison from $248.00 to $253.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $228.50.

Get Our Latest Research Report on AVY

Avery Dennison Stock Up 1.4 %

The company has a market capitalization of $18.46 billion, a PE ratio of 33.25, a P/E/G ratio of 3.47 and a beta of 0.91. The company has a current ratio of 0.87, a quick ratio of 0.58 and a debt-to-equity ratio of 0.94. The firm has a 50 day simple moving average of $218.54 and a two-hundred day simple moving average of $205.92.

Avery Dennison (NYSE:AVYGet Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The industrial products company reported $2.29 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.14. The firm had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.15 billion. Avery Dennison had a net margin of 6.56% and a return on equity of 32.59%. Research analysts expect that Avery Dennison Co. will post 9.31 EPS for the current year.

Avery Dennison Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Wednesday, June 5th will be issued a dividend of $0.88 per share. This is a boost from Avery Dennison’s previous quarterly dividend of $0.81. This represents a $3.52 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend is Wednesday, June 5th. Avery Dennison’s dividend payout ratio is currently 47.30%.

Insider Activity at Avery Dennison

In related news, insider Ryan D. Yost sold 1,400 shares of Avery Dennison stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $213.29, for a total value of $298,606.00. Following the sale, the insider now directly owns 2,843 shares in the company, valued at $606,383.47. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Ryan D. Yost sold 1,400 shares of the firm’s stock in a transaction dated 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 in the company, valued at $606,383.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Gregory Lovins sold 2,894 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $227.20, for a total transaction of $657,516.80. Following the transaction, the chief financial officer now owns 67,457 shares in the company, valued at $15,326,230.40. The disclosure for this sale can be found here. Insiders sold a total of 21,212 shares of company stock worth $4,652,269 over the last 90 days. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Avery Dennison

Several hedge funds and other institutional investors have recently bought and sold shares of AVY. Taylor Frigon Capital Management LLC grew its position in shares of Avery Dennison by 0.8% in the first quarter. Taylor Frigon Capital Management LLC now owns 6,386 shares of the industrial products company’s stock valued at $1,426,000 after purchasing an additional 48 shares during the last quarter. Albert D Mason Inc. grew its holdings in Avery Dennison by 0.7% during the 1st quarter. Albert D Mason Inc. now owns 7,456 shares of the industrial products company’s stock valued at $1,665,000 after buying an additional 51 shares during the last quarter. Alliance Wealth Advisors LLC UT increased its position in Avery Dennison by 1.5% during the fourth quarter. Alliance Wealth Advisors LLC UT now owns 3,840 shares of the industrial products company’s stock worth $776,000 after buying an additional 56 shares in the last quarter. First Trust Direct Indexing L.P. lifted its position in shares of Avery Dennison by 5.0% in the fourth quarter. First Trust Direct Indexing L.P. now owns 1,198 shares of the industrial products company’s stock valued at $242,000 after acquiring an additional 57 shares in the last quarter. Finally, New York Life Investment Management LLC boosted its stake in shares of Avery Dennison by 0.5% during the third quarter. New York Life Investment Management LLC now owns 11,454 shares of the industrial products company’s stock valued at $2,092,000 after acquiring an additional 58 shares during the last quarter. 94.17% of the stock is owned by institutional investors and hedge funds.

Avery Dennison Company Profile

(Get Free Report)

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.

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