Sone Capital Management LLC Buys Shares of 7,488 Avery Dennison Co. (NYSE:AVY)

Sone Capital Management LLC purchased a new stake in shares of Avery Dennison Co. (NYSE:AVY) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 7,488 shares of the industrial products company’s stock, valued at approximately $1,401,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Avery Dennison in the fourth quarter worth about $188,643,000. Raymond James Financial Inc. bought a new position in Avery Dennison in the 4th quarter worth approximately $51,521,000. Ameriprise Financial Inc. grew its stake in Avery Dennison by 12.9% in the 4th quarter. Ameriprise Financial Inc. now owns 2,185,732 shares of the industrial products company’s stock valued at $409,014,000 after buying an additional 250,359 shares in the last quarter. Capital World Investors bought a new stake in Avery Dennison during the 4th quarter valued at $40,354,000. Finally, Deutsche Bank AG lifted its position in shares of Avery Dennison by 81.3% during the fourth quarter. Deutsche Bank AG now owns 465,479 shares of the industrial products company’s stock worth $87,105,000 after acquiring an additional 208,678 shares in the last quarter. Institutional investors own 94.17% of the company’s stock.

Insider Transactions at Avery Dennison

In related news, Chairman Mitchell R. Butier sold 8,068 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $186.19, for a total transaction of $1,502,180.92. Following the transaction, the chairman now owns 316,300 shares of the company’s stock, valued at approximately $58,891,897. This trade represents a 2.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.84% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on AVY shares. Robert W. Baird reduced their price target on Avery Dennison from $220.00 to $210.00 and set an “outperform” rating for the company in a research report on Thursday, April 24th. Raymond James decreased their price target on Avery Dennison from $208.00 to $194.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. lowered shares of Avery Dennison from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $205.00 to $172.00 in a research report on Thursday, April 24th. UBS Group decreased their target price 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. Finally, Barclays lowered their target price on shares of Avery Dennison from $225.00 to $210.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $206.60.

Avery Dennison Stock Performance

NYSE AVY opened at $183.27 on Monday. Avery Dennison Co. has a 52-week low of $157.00 and a 52-week high of $233.48. The company has a fifty day moving average of $173.68 and a 200-day moving average of $185.52. The company has a market capitalization of $14.33 billion, a P/E ratio of 21.02, a P/E/G ratio of 2.07 and a beta of 0.88. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings results on Wednesday, April 23rd. The industrial products company reported $2.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.32 by ($0.02). The firm had revenue of $2.15 billion for 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 company’s revenue for the quarter was down .1% on a year-over-year basis. During the same period last year, the firm earned $2.29 EPS. As a group, equities research analysts predict that Avery Dennison Co. will post 9.96 EPS for the current fiscal year.

Avery Dennison Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be paid a dividend of $0.94 per share. The ex-dividend date is Wednesday, June 4th. This is an increase from Avery Dennison’s previous quarterly dividend of $0.88. This represents a $3.76 annualized dividend and a dividend yield of 2.05%. Avery Dennison’s dividend payout ratio (DPR) is 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.