Sapient Capital LLC Takes $209,000 Position in Avery Dennison Co. (NYSE:AVY)

Sapient Capital LLC purchased a new stake in Avery Dennison Co. (NYSE:AVY) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,033 shares of the industrial products company’s stock, valued at approximately $209,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Clear Street Markets LLC grew its position in shares of Avery Dennison by 92.7% in the first quarter. Clear Street Markets LLC now owns 158 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 76 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Avery Dennison in the third quarter valued at about $32,000. Milestone Investment Advisors LLC acquired a new stake in shares of Avery Dennison in the third quarter valued at about $36,000. IFP Advisors Inc grew its position in shares of Avery Dennison by 56.3% in the second quarter. IFP Advisors Inc now owns 200 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 72 shares during the last quarter. Finally, Eagle Bay Advisors LLC acquired a new stake in shares of Avery Dennison in the second quarter valued at about $33,000. 94.17% of the stock is owned by institutional investors and hedge funds.

Avery Dennison Stock Performance

NYSE:AVY opened at $211.28 on Tuesday. Avery Dennison Co. has a 1 year low of $158.93 and a 1 year high of $225.26. The firm has a 50 day moving average of $214.34 and a 200-day moving average of $198.72. The company has a current ratio of 1.04, a quick ratio of 0.69 and a debt-to-equity ratio of 1.23. The stock has a market capitalization of $17.01 billion, a P/E ratio of 34.02, a price-to-earnings-growth ratio of 3.25 and a beta of 0.90.

Avery Dennison (NYSE:AVY) last posted its earnings results on Wednesday, January 31st. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.16. Avery Dennison had a net margin of 6.01% and a return on equity of 30.97%. The company had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.10 billion. During the same quarter in the previous year, the company posted $1.65 earnings per share. Avery Dennison’s quarterly revenue was up 4.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Avery Dennison Co. will post 9.28 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were paid a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date was Tuesday, March 5th. Avery Dennison’s dividend payout ratio (DPR) is currently 52.17%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on AVY shares. Citigroup increased their target price on shares of Avery Dennison from $223.00 to $234.00 and gave the company a “neutral” rating in a research note on Thursday, April 4th. JPMorgan Chase & Co. increased their target price on shares of Avery Dennison from $185.00 to $218.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Truist Financial reiterated a “buy” rating and issued a $249.00 target price on shares of Avery Dennison in a research note on Friday, January 19th. Bank of America cut shares of Avery Dennison from a “buy” rating to an “underperform” rating and set a $208.00 target price for the company. in a research note on Tuesday, January 2nd. Finally, UBS Group increased their target price on shares of Avery Dennison from $225.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $221.00.

Insider Activity

In other news, Chairman Mitchell R. Butier sold 8,168 shares of Avery Dennison stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $217.36, for a total value of $1,775,396.48. Following the completion of the transaction, the chairman now owns 321,487 shares in the company, valued at $69,878,414.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Chairman Mitchell R. Butier sold 8,168 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $217.36, for a total value of $1,775,396.48. Following the completion of the sale, the chairman now owns 321,487 shares of the company’s stock, valued at $69,878,414.32. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Ryan D. Yost sold 1,400 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $213.29, for a total transaction of $298,606.00. Following the completion of the sale, the insider now directly owns 2,843 shares of the company’s stock, valued at approximately $606,383.47. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,879 shares of company stock worth $4,217,705. Insiders own 1.10% of the company’s stock.

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.