UBS Group upgraded shares of Avery Dennison (NYSE:AVY – Free Report) from a neutral rating to a buy rating in a research report sent to investors on Wednesday morning, Marketbeat Ratings reports. They currently have $220.00 price target on the industrial products company’s stock, up from their prior price target of $184.00.
Other equities research analysts also recently issued reports about the stock. Truist Financial dropped their price target on shares of Avery Dennison from $219.00 to $215.00 in a research note on Wednesday, July 26th. Loop Capital lowered their target price on shares of Avery Dennison from $208.00 to $201.00 in a research note on Thursday, June 8th. Argus lowered their target price on shares of Avery Dennison from $220.00 to $200.00 and set a buy rating for the company in a research note on Wednesday, July 26th. StockNews.com initiated coverage on shares of Avery Dennison in a research note on Thursday, August 17th. They issued a hold rating for the company. Finally, BMO Capital Markets lowered their target price on shares of Avery Dennison from $210.00 to $200.00 and set an outperform rating for the company in a research note on Wednesday, July 26th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $205.00.
Avery Dennison Trading Up 3.0 %
Avery Dennison (NYSE:AVY – Get Free Report) last posted its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.92 earnings per share for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.13). The business had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.17 billion. Avery Dennison had a return on equity of 31.13% and a net margin of 6.66%. The company’s quarterly revenue was down 10.9% on a year-over-year basis. During the same period last year, the firm earned $2.64 earnings per share. As a group, equities analysts expect that Avery Dennison will post 8.04 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 20th. Stockholders of record on Wednesday, September 6th will be issued a $0.81 dividend. This represents a $3.24 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Tuesday, September 5th. Avery Dennison’s dividend payout ratio (DPR) is presently 46.69%.
Insider Activity
In other news, insider Francisco Melo sold 4,800 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $186.00, for a total value of $892,800.00. Following the completion of the transaction, the insider now owns 16,905 shares in the company, valued at $3,144,330. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.10% of the company’s stock.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in the business. Orion Portfolio Solutions LLC boosted its holdings in Avery Dennison by 466.4% during the second quarter. Orion Portfolio Solutions LLC now owns 6,871 shares of the industrial products company’s stock worth $1,180,000 after purchasing an additional 5,658 shares during the last quarter. Imprint Wealth LLC acquired a new position in Avery Dennison during the second quarter worth $16,957,000. Nuveen Asset Management LLC boosted its holdings in Avery Dennison by 6.8% during the second quarter. Nuveen Asset Management LLC now owns 268,115 shares of the industrial products company’s stock worth $46,062,000 after purchasing an additional 17,002 shares during the last quarter. GTS Securities LLC acquired a new position in Avery Dennison during the second quarter worth $223,000. Finally, National Pension Service boosted its holdings in Avery Dennison by 11.1% during the second quarter. National Pension Service now owns 132,729 shares of the industrial products company’s stock worth $22,297,000 after purchasing an additional 13,260 shares during the last quarter. Institutional investors and hedge funds own 90.27% of the company’s stock.
About Avery Dennison
Avery Dennison Corporation operates as materials science and digital identification solutions company. It provides branding and information labeling solutions, including pressure-sensitive materials, radio-frequency identification (RFID) inlays and tags, and various converted products and solutions. The company designs and manufactures a range of labeling and functional materials that enhance branded packaging, carry or display information that connects the physical and the digital, and improve customers' product performance.
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