Sherbrooke Park Advisers LLC Invests $816,000 in Avery Dennison Co. (NYSE:AVY)

Sherbrooke Park Advisers LLC purchased a new position in Avery Dennison Co. (NYSE:AVY - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,362 shares of the industrial products company's stock, valued at approximately $816,000.

A number of other hedge funds have also made changes to their positions in the stock. Regents Gate Capital LLP bought a new position in Avery Dennison during the fourth quarter valued at approximately $37,000. Spire Wealth Management raised its holdings in shares of Avery Dennison by 76.0% during the 4th quarter. Spire Wealth Management now owns 301 shares of the industrial products company's stock valued at $56,000 after purchasing an additional 130 shares in the last quarter. VisionPoint Advisory Group LLC bought a new position in shares of Avery Dennison during the 4th quarter valued at $68,000. AdvisorNet Financial Inc raised its holdings in shares of Avery Dennison by 18.8% during the 4th 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. raised its holdings in shares of Avery Dennison by 22.5% during the 4th quarter. Assetmark Inc. now owns 397 shares of the industrial products company's stock valued at $74,000 after purchasing an additional 73 shares in the last quarter. 94.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. UBS Group cut their price target on shares of Avery Dennison from $207.00 to $189.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. BMO Capital Markets lowered their price objective on shares of Avery Dennison from $226.00 to $216.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Raymond James lowered their price objective on shares of Avery Dennison from $208.00 to $194.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. Robert W. Baird decreased their price target on shares of Avery Dennison from $220.00 to $210.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Finally, Argus downgraded shares of Avery Dennison from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 12th. Six analysts have rated the stock with a hold rating and seven 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 an average target price of $206.60.

Insiders Place Their Bets

In other Avery Dennison 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 transaction of $1,502,180.92. Following the completion of the sale, the chairman now directly owns 316,300 shares of the company's stock, valued at approximately $58,891,897. The trade was a 2.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.84% of the company's stock.

Avery Dennison Price Performance

Shares of Avery Dennison stock traded up $0.36 during trading on Monday, reaching $183.57. The company's stock had a trading volume of 498,746 shares, compared to its average volume of 609,126. The stock has a 50-day moving average price of $173.68 and a two-hundred day moving average price of $185.52. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 1.10. Avery Dennison Co. has a one year low of $157.00 and a one year high of $233.48. The stock has a market capitalization of $14.35 billion, a P/E ratio of 21.05, 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 results on Wednesday, April 23rd. The industrial products company reported $2.30 earnings per share (EPS) 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 net margin of 8.05% and a return on equity of 33.06%. The business's quarterly revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.29 earnings per share. As a group, sell-side analysts anticipate that Avery Dennison Co. will post 9.96 EPS for the current fiscal year.

Avery Dennison Increases Dividend

The company also recently disclosed 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 boost from Avery Dennison's previous quarterly dividend of $0.88. This represents a $3.76 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend is Wednesday, June 4th. Avery Dennison's payout ratio is currently 43.32%.

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.