7,488 Shares in Avery Dennison Co. (NYSE:AVY) Purchased by Sone Capital Management LLC

Sone Capital Management LLC purchased a new position in Avery Dennison Co. (NYSE:AVY - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,488 shares of the industrial products company's stock, valued at approximately $1,401,000.

Several other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Avery Dennison by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 9,681,709 shares of the industrial products company's stock worth $1,811,738,000 after purchasing an additional 33,149 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its position in Avery Dennison by 3.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,225,309 shares of the industrial products company's stock valued at $790,683,000 after acquiring an additional 150,572 shares during the last quarter. Ameriprise Financial Inc. increased its position in Avery Dennison by 12.9% during the fourth quarter. Ameriprise Financial Inc. now owns 2,185,732 shares of the industrial products company's stock valued at $409,014,000 after acquiring an additional 250,359 shares during the last quarter. Geode Capital Management LLC increased its position in Avery Dennison by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 2,102,331 shares of the industrial products company's stock valued at $392,445,000 after acquiring an additional 13,815 shares during the last quarter. Finally, Lazard Asset Management LLC increased its position in Avery Dennison by 4.0% during the fourth quarter. Lazard Asset Management LLC now owns 1,841,520 shares of the industrial products company's stock valued at $344,603,000 after acquiring an additional 71,435 shares during the last quarter. Hedge funds and other institutional investors own 94.17% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on AVY shares. Wall Street Zen upgraded Avery Dennison from a "sell" rating to a "hold" rating in a research report on Thursday. BMO Capital Markets reduced their price objective on Avery Dennison from $226.00 to $216.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Barclays reduced their price objective on Avery Dennison from $225.00 to $210.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Raymond James reduced their price objective on Avery Dennison from $208.00 to $194.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. Finally, Argus lowered Avery Dennison from a "strong-buy" rating to a "hold" rating in a report on Monday, May 12th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $206.60.

Avery Dennison Stock Performance

NYSE:AVY traded down $2.66 during mid-day trading on Friday, hitting $177.64. 586,550 shares of the company traded hands, compared to its average volume of 611,170. The stock's fifty day moving average price is $173.96 and its 200-day moving average price is $184.94. Avery Dennison Co. has a one year low of $157.00 and a one year high of $233.48. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10. The firm has a market cap of $13.89 billion, a price-to-earnings ratio of 20.37, a price-to-earnings-growth ratio of 2.07 and a beta of 0.88.

Avery Dennison (NYSE:AVY - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The industrial products company reported $2.30 earnings per share for the quarter, missing analysts' consensus estimates of $2.32 by ($0.02). The business had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.15 billion. Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. The business's revenue was down .1% on a year-over-year basis. During the same period last year, the company earned $2.29 EPS. Research analysts anticipate that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be paid a $0.94 dividend. This is a positive change from Avery Dennison's previous quarterly dividend of $0.88. The ex-dividend date is Wednesday, June 4th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.12%. Avery Dennison's dividend payout ratio is 43.32%.

Insider Transactions at Avery Dennison

In other news, Chairman Mitchell R. Butier sold 12,969 shares of the company's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $181.85, for a total value of $2,358,412.65. Following the completion of the transaction, the chairman now owns 303,331 shares of the company's stock, valued at $55,160,742.35. This represents a 4.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.84% 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.