HBK Sorce Advisory LLC Purchases 58 Shares of Avery Dennison Co. (NYSE:AVY)

HBK Sorce Advisory LLC boosted its stake in Avery Dennison Co. (NYSE:AVY) by 0.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,862 shares of the industrial products company’s stock after purchasing an additional 58 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Avery Dennison were worth $2,220,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of AVY. Larson Financial Group LLC lifted its stake in Avery Dennison by 100.0% in the 3rd quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 71 shares in the last quarter. Regents Gate Capital LLP purchased a new stake in shares of Avery Dennison during the 4th quarter valued at about $37,000. Peterson Financial Group Inc. purchased a new stake in shares of Avery Dennison during the 3rd quarter valued at about $39,000. Spire Wealth Management raised its position 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 buying an additional 130 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new stake in shares of Avery Dennison during the 3rd quarter valued at about $66,000. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Avery Dennison Price Performance

Shares of AVY stock opened at $175.74 on Friday. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73. The company has a market capitalization of $13.88 billion, a P/E ratio of 20.15, a P/E/G ratio of 2.07 and a beta of 0.85. The company’s 50-day simple moving average is $185.62 and its two-hundred day simple moving average is $199.91. Avery Dennison Co. has a one year low of $174.91 and a one year high of $233.48.

Avery Dennison (NYSE:AVY) last issued its earnings results on Thursday, January 30th. The industrial products company reported $2.38 EPS for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.01). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. As a group, equities analysts anticipate that Avery Dennison Co. will post 9.96 EPS for the current year.

Avery Dennison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be paid a dividend of $0.88 per share. The ex-dividend date is Wednesday, March 5th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.00%. Avery Dennison’s dividend payout ratio is presently 40.37%.

Insider Activity

In other news, Chairman Mitchell R. Butier sold 12,969 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $181.85, for a total transaction of $2,358,412.65. Following the transaction, the chairman now directly owns 303,331 shares in the company, valued at approximately $55,160,742.35. This trade represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on AVY shares. BMO Capital Markets set a $226.00 target price on shares of Avery Dennison in a research report on Monday, February 3rd. Robert W. Baird set a $220.00 target price on shares of Avery Dennison in a research report on Friday, January 31st. JPMorgan Chase & Co. upgraded shares of Avery Dennison from a “neutral” rating to an “overweight” rating and decreased their target price for the company from $210.00 to $205.00 in a research report on Friday, January 31st. Barclays reduced their price objective on shares of Avery Dennison from $245.00 to $225.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Finally, Raymond James reissued an “outperform” rating and issued a $208.00 price objective (down from $218.00) on shares of Avery Dennison in a research report on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $222.51.

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.