Avery Dennison Co. (NYSE:AVY) Plans Quarterly Dividend of $0.88

Avery Dennison Co. (NYSE:AVY) announced a quarterly dividend on Friday, January 31st,Wall Street Journal reports. Shareholders of record on Wednesday, March 5th will be paid a dividend of 0.88 per share by the industrial products company on Wednesday, March 19th. This represents a $3.52 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Wednesday, March 5th.

Avery Dennison has raised its dividend by an average of 9.1% per year over the last three years and has raised its dividend every year for the last 15 years. Avery Dennison has a payout ratio of 30.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Avery Dennison to earn $10.34 per share next year, which means the company should continue to be able to cover its $3.52 annual dividend with an expected future payout ratio of 34.0%.

Avery Dennison Stock Up 1.8 %

Shares of Avery Dennison stock opened at $185.85 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.92. Avery Dennison has a 52-week low of $179.20 and a 52-week high of $233.48. The company’s 50 day moving average price is $193.54 and its 200-day moving average price is $206.34. The stock has a market capitalization of $14.93 billion, a price-to-earnings ratio of 22.31, a P/E/G ratio of 1.38 and a beta of 0.89.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.01). Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. Equities research analysts forecast that Avery Dennison will post 9.41 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. UBS Group dropped their price objective on Avery Dennison from $235.00 to $207.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Citigroup dropped their price target on Avery Dennison from $228.00 to $202.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Raymond James restated an “outperform” rating and issued a $208.00 price objective (down from $218.00) on shares of Avery Dennison in a report on Friday. Truist Financial reaffirmed a “buy” rating and set a $215.00 target price (down previously from $245.00) on shares of Avery Dennison in a research note on Friday. Finally, JPMorgan Chase & Co. upgraded shares of Avery Dennison from a “neutral” rating to an “overweight” rating and lowered their target price for the company from $210.00 to $205.00 in a report on Friday. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $228.96.

Insiders Place Their Bets

In other news, SVP Nicholas Colisto sold 3,679 shares of Avery Dennison stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $206.00, for a total transaction of $757,874.00. Following the completion of the transaction, the senior vice president now directly owns 7,126 shares of the company’s stock, valued at $1,467,956. The trade was a 34.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is owned by insiders.

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.