UBS Group Cuts Avery Dennison (NYSE:AVY) Price Target to $189.00

Avery Dennison (NYSE:AVY) had its price objective decreased by UBS Group from $207.00 to $189.00 in a research note issued to investors on Monday morning,Benzinga reports. UBS Group currently has a neutral rating on the industrial products company’s stock.

Other equities research analysts also recently issued research reports about the company. Raymond James restated an “outperform” rating and set a $208.00 target price (down previously from $218.00) on shares of Avery Dennison in a research report on Friday, January 31st. JPMorgan Chase & Co. upgraded Avery Dennison from a “neutral” rating to an “overweight” rating and cut their target price for the stock from $210.00 to $205.00 in a research note on Friday, January 31st. Truist Financial reiterated a “buy” rating and set a $215.00 price target (down from $245.00) on shares of Avery Dennison in a research report on Friday, January 31st. Robert W. Baird set a $220.00 price objective on shares of Avery Dennison in a research report on Friday, January 31st. Finally, BMO Capital Markets set a $226.00 target price on shares of Avery Dennison in a report on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $220.87.

Avery Dennison Stock Down 2.4 %

AVY stock opened at $166.12 on Monday. Avery Dennison has a fifty-two week low of $162.53 and a fifty-two week high of $233.48. The stock has a fifty day moving average of $181.22 and a 200-day moving average of $194.64. The company has a market capitalization of $13.12 billion, a price-to-earnings ratio of 19.05, a PEG ratio of 2.07 and a beta of 0.85. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08.

Avery Dennison (NYSE:AVY) last posted its earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share 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%. As a group, equities research analysts predict that Avery Dennison will post 9.96 earnings per share for the current year.

Avery Dennison Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a $0.88 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $3.52 annualized dividend and a yield of 2.12%. Avery Dennison’s dividend payout ratio (DPR) is presently 40.37%.

Insider Activity at Avery Dennison

In other news, Chairman Mitchell R. Butier sold 8,068 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $186.19, for a total value of $1,502,180.92. Following the completion of the transaction, the chairman now directly owns 316,300 shares in the company, valued at approximately $58,891,897. This represents a 2.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.84% of the stock is owned by insiders.

Institutional Trading of Avery Dennison

Hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Avery Dennison in the 4th quarter valued at $188,643,000. GAMMA Investing LLC lifted its stake in Avery Dennison by 19,370.0% in the first quarter. GAMMA Investing LLC now owns 428,730 shares of the industrial products company’s stock worth $76,301,000 after purchasing an additional 426,528 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Avery Dennison during the fourth quarter valued at about $51,521,000. Ameriprise Financial Inc. increased its holdings in shares of Avery Dennison by 12.9% in the fourth 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 period. Finally, Capital World Investors bought a new stake in shares of Avery Dennison in the 4th quarter valued at about $40,354,000. Hedge funds and other 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.