Fmr LLC Increases Position in Avon Products, Inc. (AVP)
Fmr LLC increased its holdings in shares of Avon Products, Inc. (NYSE:AVP) by 219.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 29,804,223 shares of the company’s stock after purchasing an additional 20,485,474 shares during the period. Fmr LLC owned 6.78% of Avon Products worth $113,256,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also made changes to their positions in AVP. Comerica Bank boosted its position in Avon Products by 5.1% during the 1st quarter. Comerica Bank now owns 346,171 shares of the company’s stock worth $1,655,000 after purchasing an additional 16,860 shares during the period. World Asset Management Inc boosted its position in Avon Products by 0.8% during the 1st quarter. World Asset Management Inc now owns 37,771 shares of the company’s stock worth $166,000 after purchasing an additional 293 shares during the period. UBS Asset Management Americas Inc. boosted its position in Avon Products by 8.0% during the 1st quarter. UBS Asset Management Americas Inc. now owns 674,158 shares of the company’s stock worth $2,966,000 after purchasing an additional 50,154 shares during the period. Karp Capital Management Corp purchased a new stake in Avon Products during the 1st quarter worth $955,000. Finally, State of Tennessee Treasury Department purchased a new stake in Avon Products during the 1st quarter worth $176,000. 84.24% of the stock is owned by hedge funds and other institutional investors.
A number of analysts recently weighed in on the stock. Jefferies Group LLC assumed coverage on shares of Avon Products in a research report on Wednesday, September 13th. They set an “underperform” rating and a $2.20 price target for the company. Zacks Investment Research cut shares of Avon Products from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 9th. Stifel Nicolaus reaffirmed a “hold” rating and set a $4.00 price target (down from $4.50) on shares of Avon Products in a research report on Wednesday, August 9th. ValuEngine cut shares of Avon Products from a “hold” rating to a “sell” rating in a research report on Friday, August 4th. Finally, UBS AG decreased their price objective on shares of Avon Products from $3.50 to $2.75 and set a “sell” rating for the company in a research report on Friday, August 4th. Four equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $3.49.
Avon Products, Inc. (NYSE:AVP) opened at 2.29 on Monday. Avon Products, Inc. has a 52-week low of $2.26 and a 52-week high of $6.96. The firm has a 50-day moving average of $2.48 and a 200-day moving average of $3.45. The stock’s market capitalization is $1.01 billion.
Avon Products (NYSE:AVP) last posted its earnings results on Thursday, August 3rd. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.10). Avon Products had a negative net margin of 0.99% and a negative return on equity of 3.68%. The firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same quarter in the previous year, the business posted $0.07 earnings per share. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. On average, equities analysts expect that Avon Products, Inc. will post $0.14 EPS for the current year.
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Avon Products 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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