Avon Products, Inc. (NYSE:AVP) Shares Sold by Morgan Stanley

Morgan Stanley cut its position in Avon Products, Inc. (NYSE:AVP) by 5.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,777,679 shares of the company’s stock after selling 171,728 shares during the period. Morgan Stanley’s holdings in Avon Products were worth $12,221,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AVP. Vanguard Group Inc. boosted its stake in Avon Products by 3.9% in the first quarter. Vanguard Group Inc. now owns 40,109,692 shares of the company’s stock worth $176,482,000 after buying an additional 1,495,063 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in 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. boosted its stake in 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. FMR LLC boosted its stake in Avon Products by 881.2% in the first quarter. FMR LLC now owns 9,318,749 shares of the company’s stock worth $41,003,000 after buying an additional 8,369,024 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Avon Products by 9.4% in the first quarter. Dimensional Fund Advisors LP now owns 7,203,815 shares of the company’s stock worth $31,696,000 after buying an additional 621,157 shares during the last quarter. Institutional investors own 86.89% of the company’s stock.

Avon Products, Inc. (AVP) opened at 3.55 on Wednesday. The stock has a 50 day moving average of $3.65 and a 200-day moving average of $4.26. The firm’s market capitalization is $1.56 billion. Avon Products, Inc. has a one year low of $3.24 and a one year high of $6.96.

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

A number of research firms have weighed in on AVP. Zacks Investment Research raised shares of Avon Products from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 5th. ValuEngine cut shares of Avon Products from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Finally, DA Davidson began coverage on shares of Avon Products in a report on Thursday, July 6th. They set a “neutral” rating and a $4.25 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. Avon Products currently 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).