Shah Capital Management increased its position in shares of Avon Products, Inc. (NYSE:AVP) by 5.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,266,908 shares of the company’s stock after buying an additional 178,804 shares during the period. Avon Products makes up 7.6% of Shah Capital Management’s investment portfolio, making the stock its 4th largest position. Shah Capital Management’s holdings in Avon Products were worth $14,374,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of AVP. Melvin Capital Management LP bought a new stake in shares of Avon Products during the third quarter worth about $30,564,000. Norges Bank bought a new stake in shares of Avon Products during the fourth quarter worth about $12,897,000. Teachers Advisors LLC increased its stake in shares of Avon Products by 223.7% in the fourth quarter. Teachers Advisors LLC now owns 2,273,528 shares of the company’s stock worth $11,459,000 after buying an additional 1,571,089 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Avon Products by 28.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,582,658 shares of the company’s stock worth $33,178,000 after buying an additional 1,442,984 shares during the period. Finally, BlackRock Fund Advisors increased its stake in shares of Avon Products by 6.1% in the third quarter. BlackRock Fund Advisors now owns 23,303,509 shares of the company’s stock worth $131,898,000 after buying an additional 1,343,531 shares during the period. Institutional investors and hedge funds own 89.26% of the company’s stock.
Shares of Avon Products, Inc. (NYSE:AVP) traded up 0.45% during midday trading on Thursday, hitting $4.46. The stock had a trading volume of 3,069,041 shares. The firm’s market cap is $1.95 billion. The firm’s 50 day moving average price is $4.37 and its 200 day moving average price is $5.32. Avon Products, Inc. has a 52-week low of $3.52 and a 52-week high of $6.96.
Avon Products (NYSE:AVP) last posted its quarterly earnings data on Thursday, February 16th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by $0.08. Avon Products had a negative return on equity of 2.30% and a negative net margin of 7.59%. The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.62 billion. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. On average, equities research analysts expect that Avon Products, Inc. will post $0.29 earnings per share for the current year.
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A number of equities research analysts have issued reports on AVP shares. Royal Bank of Canada set a $4.00 price objective on Avon Products and gave the company a “hold” rating in a research report on Tuesday, January 3rd. Zacks Investment Research downgraded Avon Products from a “hold” rating to a “strong sell” rating in a research report on Monday, January 9th. Jefferies Group LLC set a $8.00 price objective on Avon Products and gave the company a “buy” rating in a research report on Wednesday, January 11th. Finally, B. Riley restated a “neutral” rating and set a $5.25 price objective on shares of Avon Products in a research report on Wednesday, February 22nd. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $5.75.
In related news, COO James S. Scully acquired 150,000 shares of the business’s stock in a transaction dated Thursday, February 23rd. The shares were acquired at an average price of $4.37 per share, with a total value of $655,500.00. Following the completion of the transaction, the chief operating officer now owns 292,241 shares of the company’s stock, valued at $1,277,093.17. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Fernando Acosta sold 77,154 shares of the company’s stock in a transaction on Wednesday, March 15th. The stock was sold at an average price of $4.32, for a total value of $333,305.28. Following the sale, the insider now directly owns 197,579 shares in the company, valued at approximately $853,541.28. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by corporate insiders.
About Avon Products
Avon Products, Inc is a manufacturer and marketer of beauty and related products. The Company’s segments include Europe, Middle East & Africa; South Latin America; North Latin America, and Asia Pacific. Its product categories are Beauty, and Fashion and Home. Beauty consists of skincare (which includes personal care), fragrance and color (cosmetics).
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