GSA Capital Partners LLP lowered its stake in Avon Products, Inc. (NYSE:AVP) by 39.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 580,207 shares of the company’s stock after selling 370,997 shares during the quarter. GSA Capital Partners LLP owned about 0.13% of Avon Products worth $2,205,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Mutual of America Capital Management LLC lifted its position in Avon Products by 7.0% in the second quarter. Mutual of America Capital Management LLC now owns 356,082 shares of the company’s stock valued at $1,353,000 after buying an additional 23,417 shares during the last quarter. Thrivent Financial For Lutherans lifted its position in Avon Products by 5.8% in the second quarter. Thrivent Financial For Lutherans now owns 88,120 shares of the company’s stock valued at $335,000 after buying an additional 4,850 shares during the last quarter. Laurion Capital Management LP acquired a new position in Avon Products in the second quarter valued at about $475,000. Aberdeen Asset Management PLC UK lifted its position in Avon Products by 94.1% in the second quarter. Aberdeen Asset Management PLC UK now owns 183,040 shares of the company’s stock valued at $696,000 after buying an additional 88,737 shares during the last quarter. Finally, Systematic Financial Management LP acquired a new position in Avon Products in the second quarter valued at about $1,789,000. 84.24% of the stock is currently owned by institutional investors.
A number of research analysts have commented on the stock. 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 reissued a “hold” rating and set a $4.00 price target (down previously from $4.50) on shares of Avon Products in a research report on Wednesday, August 9th. UBS AG reduced their price target on shares of Avon Products from $3.50 to $2.75 and set a “sell” rating on the stock in a research report on Friday, August 4th. Royal Bank Of Canada reduced their price target on shares of Avon Products from $4.00 to $3.00 and set a “sector perform” rating on the stock in a research report on Friday, August 4th. Finally, Jefferies Group LLC began 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 on the stock. Four research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $3.71.
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Shares of Avon Products, Inc. (NYSE:AVP) traded down 2.00% during mid-day trading on Thursday, hitting $2.45. 444,261 shares of the stock traded hands. The stock has a 50 day moving average price of $2.69 and a 200-day moving average price of $3.62. Avon Products, Inc. has a one year low of $2.40 and a one year high of $6.96. The company’s market cap is $1.08 billion.
Avon Products (NYSE:AVP) last issued its earnings results on Thursday, August 3rd. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.10). Avon Products had a negative return on equity of 3.68% and a negative net margin of 0.99%. The firm had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter in the previous year, the firm posted $0.07 EPS. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. On average, analysts forecast that Avon Products, Inc. will post $0.15 earnings per share for the current fiscal year.
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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