Sone Capital Management LLC Takes Position in Avery Dennison Co. (NYSE:AVY)

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

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Regents Gate Capital LLP bought a new stake in shares of Avery Dennison in the fourth quarter valued at approximately $37,000. Spire Wealth Management increased its position in shares of Avery Dennison by 76.0% in the fourth quarter. Spire Wealth Management now owns 301 shares of the industrial products company's stock worth $56,000 after purchasing an additional 130 shares during the period. VisionPoint Advisory Group LLC bought a new position in shares of Avery Dennison in the fourth quarter worth $68,000. AdvisorNet Financial Inc raised its stake in Avery Dennison by 18.8% in the fourth quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company's stock valued at $69,000 after purchasing an additional 58 shares in the last quarter. Finally, Assetmark Inc. lifted its position in Avery Dennison by 22.5% during the fourth quarter. Assetmark Inc. now owns 397 shares of the industrial products company's stock worth $74,000 after purchasing an additional 73 shares during the period. Institutional investors and hedge funds own 94.17% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on AVY shares. Truist Financial decreased their target price on shares of Avery Dennison from $215.00 to $210.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Jefferies Financial Group began coverage on shares of Avery Dennison in a research note on Tuesday, April 22nd. They issued a "hold" rating and a $175.00 price objective on the stock. Argus cut Avery Dennison from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 12th. UBS Group reduced their target price on Avery Dennison from $207.00 to $189.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. Finally, Raymond James lowered their price target on Avery Dennison from $208.00 to $194.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $206.60.

Insider Transactions at Avery Dennison

In other news, Chairman Mitchell R. Butier sold 8,068 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $186.19, for a total value of $1,502,180.92. Following the transaction, the chairman now directly owns 316,300 shares of the company's stock, valued at $58,891,897. The trade was a 2.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.84% of the company's stock.

Avery Dennison Trading Up 0.1%

Shares of Avery Dennison stock traded up $0.17 during trading on Thursday, hitting $180.29. The company's stock had a trading volume of 371,223 shares, compared to its average volume of 610,202. The stock has a market cap of $14.09 billion, a price-to-earnings ratio of 20.68, a price-to-earnings-growth ratio of 2.07 and a beta of 0.88. Avery Dennison Co. has a 52 week low of $157.00 and a 52 week high of $233.48. The stock has a 50-day moving average price of $173.99 and a two-hundred day moving average price of $185.31. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73.

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

Avery Dennison Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be issued a dividend of $0.94 per share. 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 annualized dividend and a yield of 2.09%. Avery Dennison's dividend payout ratio (DPR) is presently 43.32%.

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.