Fmr LLC Acquires 8,369,024 Shares of Avon Products, Inc. (AVP)

Fmr LLC increased its position in Avon Products, Inc. (NYSE:AVP) by 881.2% during the first quarter, Holdings Channel reports. The fund owned 9,318,749 shares of the company’s stock after buying an additional 8,369,024 shares during the period. Fmr LLC’s holdings in Avon Products were worth $41,003,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp raised its position in shares of Avon Products by 44.7% in the first quarter. Bank of New York Mellon Corp now owns 18,164,379 shares of the company’s stock worth $79,923,000 after buying an additional 5,611,575 shares during the last quarter. Prudential Financial Inc. raised its position in shares of Avon Products by 9.6% in the first quarter. Prudential Financial Inc. now owns 9,979,702 shares of the company’s stock worth $43,911,000 after buying an additional 873,470 shares during the last quarter. Dimensional Fund Advisors LP raised its position 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 last quarter. State of New Jersey Common Pension Fund D raised its position in shares of Avon Products by 8.3% in the first quarter. State of New Jersey Common Pension Fund D now owns 5,200,000 shares of the company’s stock worth $22,880,000 after buying an additional 400,000 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of Avon Products by 0.8% in the first quarter. Ameriprise Financial Inc. now owns 4,400,436 shares of the company’s stock worth $19,362,000 after buying an additional 35,946 shares during the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Avon Products, Inc. (NYSE:AVP) opened at 3.71 on Monday. The company’s market cap is $1.63 billion. The company’s 50 day moving average is $3.56 and its 200 day moving average is $4.54. Avon Products, Inc. has a 12-month low of $3.24 and a 12-month high of $6.96.

Avon Products (NYSE:AVP) last announced its quarterly earnings results on Thursday, May 4th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.01 by $0.08. Avon Products had a negative return on equity of 3.68% and a net margin of 0.26%. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the prior year, the firm posted ($0.07) EPS. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. Analysts forecast that Avon Products, Inc. will post $0.22 earnings per share for the current fiscal year.

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AVP has been the topic of a number of research analyst reports. Zacks Investment Research lowered shares of Avon Products from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 9th. Royal Bank of Canada reissued a “hold” rating and issued a $4.00 price target on shares of Avon Products in a report on Friday, March 24th. ValuEngine lowered shares of Avon Products from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Finally, DA Davidson initiated coverage on shares of Avon Products in a report on Thursday. They issued a “neutral” rating and a $4.25 price target on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. Avon Products presently has a consensus rating of “Hold” and a consensus price target of $5.54.

Avon Products Company Profile

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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Institutional Ownership by Quarter for Avon Products (NYSE:AVP)

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