Shah Capital Management Boosts Position in Avon Products Inc. (AVP)
Shah Capital Management increased its stake in shares of Avon Products Inc. (NYSE:AVP) by 13.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,098,410 shares of the company’s stock after buying an additional 356,267 shares during the period. Avon Products makes up about 9.8% of Shah Capital Management’s investment portfolio, making the stock its 4th largest position. Shah Capital Management owned approximately 0.71% of Avon Products worth $17,537,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the stock. LS Investment Advisors LLC raised its position in Avon Products by 72.7% in the second quarter. LS Investment Advisors LLC now owns 26,439 shares of the company’s stock valued at $100,000 after buying an additional 11,129 shares during the last quarter. Searle & CO. raised its position in Avon Products by 38.5% in the third quarter. Searle & CO. now owns 18,000 shares of the company’s stock valued at $100,000 after buying an additional 5,000 shares during the last quarter. Rational Advisors LLC bought a new position in Avon Products during the second quarter valued at $104,000. PNC Financial Services Group Inc. raised its position in Avon Products by 9.7% in the second quarter. PNC Financial Services Group Inc. now owns 30,646 shares of the company’s stock valued at $116,000 after buying an additional 2,716 shares during the last quarter. Finally, Parametrica Management Ltd bought a new position in Avon Products during the second quarter valued at $129,000. Institutional investors own 88.26% of the company’s stock.
Shares of Avon Products Inc. (NYSE:AVP) opened at 6.00 on Thursday. Avon Products Inc. has a 52 week low of $2.21 and a 52 week high of $6.30. The company has a 50-day moving average of $5.70 and a 200-day moving average of $4.72. The stock’s market capitalization is $2.62 billion.
Avon Products (NYSE:AVP) last issued its earnings results on Tuesday, August 2nd. The company reported $0.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.04. The business earned $1.43 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same period last year, the firm posted $0.11 EPS. Avon Products’s quarterly revenue was down 8.3% compared to the same quarter last year. On average, analysts anticipate that Avon Products Inc. will post $0.14 EPS for the current year.
Several equities analysts recently weighed in on the stock. B. Riley restated a “neutral” rating and set a $5.25 price target on shares of Avon Products in a research report on Tuesday, August 9th. Deutsche Bank AG increased their price target on shares of Avon Products from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Wednesday, August 3rd. Zacks Investment Research upgraded shares of Avon Products from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 3rd. Finally, Piper Jaffray Cos. reiterated a “neutral” rating and set a $4.00 target price on shares of Avon Products in a research report on Thursday, July 14th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $7.54.
In other Avon Products news, insider John Higson purchased 10,000 shares of Avon Products stock in a transaction dated Thursday, August 11th. The stock was purchased at an average price of $5.20 per share, with a total value of $52,000.00. Following the transaction, the insider now directly owns 64,341 shares of the company’s stock, valued at $334,573.20. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.80% of the company’s stock.
Avon Products Company Profile
Avon Products, Inc is a manufacturer and marketer of beauty and related products. The Company’s product categories are Beauty, and Fashion and Home. Beauty consists of skincare (which includes personal care), fragrance and color (cosmetics). Fashion and Home consists of fashion jewelry, watches, apparel, footwear, accessories, gift and decorative products, housewares, entertainment and leisure products, children’s products and nutritional products.
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