Kera Capital Partners Inc. Makes New $214,000 Investment in Avery Dennison Co. (NYSE:AVY)

Kera Capital Partners Inc. purchased a new position in Avery Dennison Co. (NYSE:AVY) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,204 shares of the industrial products company’s stock, valued at approximately $214,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Regents Gate Capital LLP purchased a new stake in shares of Avery Dennison in the 4th quarter valued at approximately $37,000. Spire Wealth Management boosted its holdings in shares of Avery Dennison by 76.0% during 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 acquired a new stake in shares of Avery Dennison during the fourth quarter worth approximately $68,000. Assetmark Inc. grew 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 valued at $74,000 after purchasing an additional 73 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its stake in Avery Dennison by 49.8% in the 4th quarter. Farther Finance Advisors LLC now owns 409 shares of the industrial products company’s stock valued at $77,000 after buying an additional 136 shares during the period. Institutional investors and hedge funds own 94.17% of the company’s stock.

Insider Activity

In other news, Chairman Mitchell R. Butier sold 12,969 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $181.85, for a total value of $2,358,412.65. Following the completion of the transaction, the chairman now owns 303,331 shares in the company, valued at approximately $55,160,742.35. This represents a 4.10% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.84% of the company’s stock.

Wall Street Analysts Forecast Growth

AVY has been the topic of several research analyst reports. UBS Group lowered 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 decreased their target price on shares of Avery Dennison from $226.00 to $216.00 and set an “outperform” rating for the company in a research report on Friday, April 25th. Truist Financial decreased their target price on shares of Avery Dennison from $215.00 to $210.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Robert W. Baird decreased their target price on shares of Avery Dennison from $220.00 to $210.00 and set an “outperform” rating for the company in a research report on Thursday, April 24th. Finally, Raymond James decreased their target price on shares of Avery Dennison from $208.00 to $194.00 and set an “outperform” rating for the company in a research report on Tuesday, April 22nd. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $206.60.

Avery Dennison Price Performance

NYSE AVY opened at $179.72 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 1.10. The company has a fifty day simple moving average of $174.14 and a 200 day simple moving average of $184.23. The company has a market cap of $14.05 billion, a P/E ratio of 20.61, a P/E/G ratio of 2.07 and a beta of 0.88. Avery Dennison Co. has a 1 year low of $157.00 and a 1 year high of $233.48.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings results on Wednesday, April 23rd. The industrial products company reported $2.30 earnings per share 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 period last year, the company earned $2.29 earnings per share. Avery Dennison’s revenue for the quarter was down .1% on a year-over-year basis. On average, sell-side analysts predict that Avery Dennison Co. will post 9.96 EPS for the current year.

Avery Dennison Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be paid a $0.94 dividend. This is a boost from Avery Dennison’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.09%. Avery Dennison’s dividend payout ratio is currently 43.32%.

Avery Dennison 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.