Avery Dennison (NYSE:AVY) Hits New 1-Year High at $225.26

Avery Dennison Co. (NYSE:AVY)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $225.26 and last traded at $224.76, with a volume of 115382 shares changing hands. The stock had previously closed at $222.14.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. JPMorgan Chase & Co. boosted their target price on Avery Dennison from $218.00 to $220.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Raymond James reissued an “outperform” rating and issued a $240.00 price objective (up previously from $225.00) on shares of Avery Dennison in a research note on Thursday, April 25th. StockNews.com upgraded Avery Dennison from a “hold” rating to a “buy” rating in a research note on Monday, April 22nd. Truist Financial upped their target price on Avery Dennison from $248.00 to $253.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Finally, Citigroup boosted their price target on Avery Dennison from $223.00 to $234.00 and gave the stock a “neutral” rating in a report on Thursday, April 4th. One equities 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 MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $224.00.

Avery Dennison Price Performance

The business’s 50-day simple moving average is $216.54 and its two-hundred day simple moving average is $202.18. 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 market cap of $18.02 billion, a price-to-earnings ratio of 32.43, a P/E/G ratio of 3.41 and a beta of 0.91.

Avery Dennison Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Wednesday, June 5th will be issued a $0.88 dividend. This is a positive change from Avery Dennison’s previous quarterly dividend of $0.81. The ex-dividend date is Tuesday, June 4th. This represents a $3.52 annualized dividend and a yield of 1.57%. Avery Dennison’s payout ratio is presently 47.30%.

Insiders Place Their Bets

In related news, SVP Ignacio J. Walker sold 5,000 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $213.90, for a total transaction of $1,069,500.00. Following the sale, the senior vice president now owns 6,102 shares in the company, valued at approximately $1,305,217.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Ryan D. Yost sold 1,400 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $213.29, for a total transaction of $298,606.00. Following the transaction, the insider now owns 2,843 shares of the company’s stock, valued at approximately $606,383.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Ignacio J. Walker sold 5,000 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $213.90, for a total value of $1,069,500.00. Following the completion of the sale, the senior vice president now owns 6,102 shares of the company’s stock, valued at $1,305,217.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,879 shares of company stock worth $4,217,705. Company insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in AVY. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Avery Dennison in the 3rd quarter valued at $32,000. Milestone Investment Advisors LLC bought a new stake in shares of Avery Dennison during the third quarter worth about $36,000. VisionPoint Advisory Group LLC bought a new position in Avery Dennison in the 4th quarter valued at about $42,000. Anchor Investment Management LLC acquired a new position in Avery Dennison during the 4th quarter valued at about $42,000. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its holdings in Avery Dennison by 164.4% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 267 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 166 shares in the last quarter. 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.