BlackRock Inc. increased its holdings in shares of Avon Products, Inc. (NYSE:AVP) by 39.7% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 38,121,936 shares of the company’s stock after purchasing an additional 10,834,803 shares during the period. BlackRock Inc. owned 8.63% of Avon Products worth $108,265,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of the stock. Macquarie Group Ltd. lifted its position in Avon Products by 12.0% during the fourth quarter. Macquarie Group Ltd. now owns 298,500 shares of the company’s stock worth $642,000 after acquiring an additional 32,000 shares during the last quarter. CIBC Asset Management Inc lifted its position in Avon Products by 256.7% during the first quarter. CIBC Asset Management Inc now owns 54,768 shares of the company’s stock worth $156,000 after acquiring an additional 39,412 shares during the last quarter. Banque Pictet & Cie SA acquired a new stake in Avon Products during the first quarter worth approximately $114,000. Aperio Group LLC lifted its position in Avon Products by 39.3% during the first quarter. Aperio Group LLC now owns 152,873 shares of the company’s stock worth $434,000 after acquiring an additional 43,152 shares during the last quarter. Finally, Swiss National Bank lifted its position in Avon Products by 6.6% during the first quarter. Swiss National Bank now owns 765,900 shares of the company’s stock worth $2,175,000 after acquiring an additional 47,500 shares during the last quarter. Institutional investors and hedge funds own 81.67% of the company’s stock.
Several brokerages have issued reports on AVP. Zacks Investment Research downgraded shares of Avon Products from a “hold” rating to a “sell” rating in a research report on Monday, May 7th. Citigroup cut their price objective on shares of Avon Products from $3.50 to $3.00 and set a “buy” rating for the company in a research report on Friday, May 4th. Finally, ValuEngine downgraded shares of Avon Products from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $2.53.
Avon Products (NYSE:AVP) last released its quarterly earnings results on Thursday, May 3rd. The company reported ($0.02) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.02). Avon Products had a net margin of 0.66% and a negative return on equity of 9.55%. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the previous year, the business earned ($0.07) earnings per share. The firm’s quarterly revenue was up .9% on a year-over-year basis. sell-side analysts anticipate that Avon Products, Inc. will post 0.12 earnings per share for the current year.
In other Avon Products news, CEO Jan Zijderveld purchased 250,000 shares of the company’s stock in a transaction dated Tuesday, May 15th. The stock was bought at an average cost of $1.93 per share, for a total transaction of $482,500.00. Following the completion of the transaction, the chief executive officer now owns 250,000 shares in the company, valued at $482,500. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James A. Mitarotonda acquired 456,908 shares of the firm’s stock in a transaction that occurred on Tuesday, May 22nd. The stock was purchased at an average cost of $1.91 per share, for a total transaction of $872,694.28. Following the completion of the purchase, the director now directly owns 8,333 shares of the company’s stock, valued at $15,916.03. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 1,031,742 shares of company stock valued at $1,975,876. 0.72% of the stock is owned by company insiders.
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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