Avery Dennison said on February 2, 2023 that its board of directors declared a regular quarterly dividend of $0.75 per share ($3.00 annualized). Shareholders of record as of February 28, 2023 will receive the payment on March 15, 2023. Previously, the company paid $0.75 per share.

At the current share price of $181.20 / share, the stock's dividend yield is 1.66%. Looking back five years and taking a sample every week, the average dividend yield has been 1.76%, the lowest has been 1.20%, and the highest has been 2.95%. The standard deviation of yields is 0.32 (n=236).

The current dividend yield is 0.34 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.32. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.29%, demonstrating that it has increased its dividend over time.

Analyst Price Forecast Suggests 15.40% Upside

As of February 2, 2023, the average one-year price target for Avery Dennison is $209.10. The forecasts range from a low of $186.85 to a high of $253.05. The average price target represents an increase of 15.40% from its latest reported closing price of $181.20.

The projected annual revenue for Avery Dennison is $9,642MM, an increase of 6.67%. The projected annual EPS is $10.47, an increase of 5.06%.

Fund Sentiment

There are 1417 funds or institutions reporting positions in Avery Dennison. This is an increase of 11 owner(s) or 0.78%.

Average portfolio weight of all funds dedicated to US:AVY is 0.2523%, a decrease of 4.2310%. Total shares owned by institutions increased in the last three months by 0.80% to 88,225K shares.

What are large shareholders doing?

T. Rowe Price Investment Management holds 4,069,495 shares representing 5.03% ownership of the company.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,422,670 shares representing 2.99% ownership of the company. In it's prior filing, the firm reported owning 2,404,050 shares, representing an increase of 0.77%. The firm increased its portfolio allocation in AVY by 5.58% over the last quarter.

Price T Rowe Associates holds 2,203,403 shares representing 2.72% ownership of the company. In it's prior filing, the firm reported owning 6,398,230 shares, representing a decrease of 190.38%. The firm decreased its portfolio allocation in AVY by 80.00% over the last quarter.

Victory Capital Management holds 2,098,046 shares representing 2.59% ownership of the company. In it's prior filing, the firm reported owning 2,242,414 shares, representing a decrease of 6.88%. The firm decreased its portfolio allocation in AVY by 27.30% over the last quarter.

RPMGX - T. Rowe Price Mid-Cap Growth Fund holds 1,893,200 shares representing 2.34% ownership of the company. In it's prior filing, the firm reported owning 1,896,600 shares, representing a decrease of 0.18%. The firm increased its portfolio allocation in AVY by 5.98% over the last quarter.

Avery Dennison Background Information
(This description is provided by the company.)

Avery Dennison is a global materials science company specializing in the design and manufacture of a wide variety of labeling and functional materials. The company's products, which are used in nearly every major industry, include pressure-sensitive materials for labels and graphic applications; tapes and other bonding solutions for industrial, medical, and retail applications; tags, labels and embellishments for apparel; and radio frequency identification (RFID) solutions serving retail apparel and other markets. Headquartered in Glendale, California, the company employs more than 32,000 employees in more than 50 countries. Reported sales in 2020 were $7.0 billion.