Comerica Bank decreased its position in Avon Products, Inc. (NYSE:AVP) by 5.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 325,848 shares of the company’s stock after selling 20,323 shares during the quarter. Comerica Bank owned approximately 0.07% of Avon Products worth $1,189,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Ruffer LLP bought a new position in shares of Avon Products in the first quarter valued at approximately $218,000. Vanguard Group Inc. raised its position in shares of Avon Products by 3.9% in the first quarter. Vanguard Group Inc. now owns 40,109,692 shares of the company’s stock valued at $176,482,000 after purchasing an additional 1,495,063 shares during the period. Retirement Systems of Alabama raised its position in shares of Avon Products by 0.5% in the second quarter. Retirement Systems of Alabama now owns 567,032 shares of the company’s stock valued at $2,155,000 after purchasing an additional 2,854 shares during the period. Dynamic Capital Management Ltd raised its position in shares of Avon Products by 565.6% in the first quarter. Dynamic Capital Management Ltd now owns 185,384 shares of the company’s stock valued at $816,000 after purchasing an additional 157,531 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Avon Products in the first quarter valued at approximately $140,000. 84.24% of the stock is currently owned by institutional investors.
A number of research firms have recently commented on AVP. Zacks Investment Research lowered 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 issued 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 dropped 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 dropped 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. They issued 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 issued a hold rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $3.71.
Avon Products, Inc. (NYSE:AVP) opened at 2.54 on Friday. The company’s market cap is $1.12 billion. The company’s 50-day moving average is $2.75 and its 200-day moving average is $3.66. Avon Products, Inc. has a 12 month low of $2.40 and a 12 month high of $6.96.
Avon Products (NYSE:AVP) last posted its quarterly earnings results on Thursday, August 3rd. The company reported ($0.03) earnings per share 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 business had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter last year, the company posted $0.07 EPS. The firm’s revenue was down 2.7% on a year-over-year basis. On average, equities research analysts anticipate that Avon Products, Inc. will post $0.15 earnings per share for the current 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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