Avon Products, Inc. (AVP) Position Lifted by Algert Global LLC
Algert Global LLC lifted its stake in Avon Products, Inc. (NYSE:AVP) by 36.4% during the third quarter, Holdings Channel reports. The institutional investor owned 639,214 shares of the company’s stock after acquiring an additional 170,667 shares during the period. Algert Global LLC’s holdings in Avon Products were worth $1,406,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Dorsey & Whitney Trust CO LLC purchased a new position in Avon Products during the 3rd quarter worth $166,000. Laurion Capital Management LP purchased a new position in Avon Products during the 2nd quarter worth $147,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Avon Products during the 2nd quarter worth $151,000. Jane Street Group LLC purchased a new position in Avon Products during the 2nd quarter worth $184,000. Finally, Wells Fargo & Company MN grew its position in Avon Products by 120.6% during the 3rd quarter. Wells Fargo & Company MN now owns 129,173 shares of the company’s stock worth $284,000 after purchasing an additional 70,612 shares during the last quarter. 74.76% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have issued reports on the stock. ValuEngine downgraded shares of Avon Products from a “buy” rating to a “hold” rating in a research report on Monday, November 26th. TheStreet raised shares of Avon Products from a “d” rating to a “c-” rating in a research report on Friday, November 2nd. Zacks Investment Research raised shares of Avon Products from a “sell” rating to a “hold” rating in a research report on Wednesday, September 19th. Finally, DA Davidson upgraded shares of Avon Products from a “neutral” rating to a “buy” rating and raised their target price for the stock from $1.75 to $3.50 in a research note on Monday, September 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. Avon Products currently has an average rating of “Hold” and an average price target of $2.63.
Avon Products (NYSE:AVP) last released its earnings results on Thursday, November 1st. The company reported $0.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.01. Avon Products had a net margin of 2.61% and a negative return on equity of 7.67%. The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter last year, the business earned $0.03 EPS. The business’s revenue was up .5% on a year-over-year basis. Equities research analysts expect that Avon Products, Inc. will post 0.05 earnings per share for the current fiscal year.
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Avon Products Profile
Avon Products, Inc manufactures and markets beauty and related products in Europe, the Middle East, Africa, south Latin America, north Latin America, and the Asia Pacific. The company offers beauty products, including skincare, fragrance, and color cosmetics; and fashion and home products, such as 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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