BlackRock Inc. Cuts Holdings in Avon Products, Inc. (AVP)

BlackRock Inc. cut its holdings in shares of Avon Products, Inc. (NYSE:AVP) by 42.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,482,208 shares of the company’s stock after selling 19,812,006 shares during the period. BlackRock Inc. owned 6.02% of Avon Products worth $100,634,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. FMR LLC raised its position in shares of Avon Products by 881.2% in the 1st quarter. FMR LLC now owns 9,318,749 shares of the company’s stock valued at $41,003,000 after acquiring an additional 8,369,024 shares during the period. Vanguard Group Inc. raised its position in shares of Avon Products by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 40,109,692 shares of the company’s stock valued at $176,482,000 after acquiring an additional 1,495,063 shares during the period. LMR Partners LLP raised its position in shares of Avon Products by 1,183.5% in the 2nd quarter. LMR Partners LLP now owns 1,389,025 shares of the company’s stock valued at $5,278,000 after acquiring an additional 1,280,803 shares during the period. Shah Capital Management raised its position in shares of Avon Products by 26.5% in the 2nd quarter. Shah Capital Management now owns 4,133,990 shares of the company’s stock valued at $15,709,000 after acquiring an additional 867,082 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Avon Products by 9.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,203,815 shares of the company’s stock valued at $31,696,000 after acquiring an additional 621,157 shares during the period. Institutional investors own 84.24% of the company’s stock.

A number of analysts recently weighed in on the stock. Royal Bank Of Canada reiterated a “hold” rating and issued a $3.00 price target on shares of Avon Products in a research report on Friday, October 13th. Zacks Investment Research upgraded shares of Avon Products from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 10th. Jefferies Group LLC assumed coverage on shares of Avon Products in a research report on Wednesday, September 13th. They issued an “underperform” rating and a $2.20 price target on the stock. Stifel Nicolaus reiterated a “hold” rating and issued a $4.00 price target (down from $4.50) on shares of Avon Products in a research report on Wednesday, August 9th. Finally, ValuEngine downgraded shares of Avon Products from a “hold” rating to a “sell” rating in a research report on Friday, August 4th. Three investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $3.49.

Shares of Avon Products, Inc. (NYSE:AVP) opened at 2.26 on Friday. The company’s 50-day moving average price is $2.41 and its 200-day moving average price is $3.32. The company’s market capitalization is $994.28 million. Avon Products, Inc. has a 1-year low of $2.24 and a 1-year high of $6.96.

Avon Products (NYSE:AVP) last issued its quarterly earnings results on Thursday, August 3rd. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate 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 business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same period last year, the firm posted $0.07 earnings per share. Avon Products’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 $0.12 earnings per share for the current fiscal year.

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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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Institutional Ownership by Quarter for Avon Products (NYSE:AVP)

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