Gabelli Funds LLC lessened its position in Avon Products, Inc. (NYSE:AVP) by 33.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 335,000 shares of the company’s stock after selling 165,000 shares during the period. Gabelli Funds LLC owned 0.08% of Avon Products worth $1,474,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of AVP. Osborn Williams & Donohoe LLC acquired a new position in Avon Products in the 2nd quarter worth about $44,000. Cetera Advisor Networks LLC acquired a new position in Avon Products in the 2nd quarter worth about $48,000. Cerebellum GP LLC acquired a new position in Avon Products in the 3rd quarter worth about $49,000. Weiss Asset Management LP acquired a new position in Avon Products in the 2nd quarter worth about $72,000. Finally, Nomura Asset Management Co. Ltd. increased its holdings in Avon Products by 29.9% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 20,000 shares of the company’s stock worth $78,000 after purchasing an additional 4,600 shares in the last quarter. 69.53% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have issued reports on the company. ValuEngine raised Avon Products from a “strong sell” rating to a “sell” rating in a report on Friday. Barclays reaffirmed a “hold” rating and issued a $4.00 target price on shares of Avon Products in a report on Sunday, August 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a strong buy rating to the company. Avon Products presently has a consensus rating of “Hold” and a consensus target price of $3.72.
Shares of AVP stock traded down $0.12 on Friday, hitting $4.64. The company had a trading volume of 7,843,263 shares, compared to its average volume of 8,363,712. The firm has a market cap of $2.10 billion, a P/E ratio of 154.67, a P/E/G ratio of 2.15 and a beta of 1.76. The stock’s 50-day moving average is $4.33 and its two-hundred day moving average is $3.96. Avon Products, Inc. has a twelve month low of $1.30 and a twelve month high of $4.88.
Avon Products (NYSE:AVP) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.09. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Avon Products had a negative return on equity of 16.56% and a negative net margin of 0.47%. The company’s revenue was down 16.6% on a year-over-year basis. As a group, analysts expect that Avon Products, Inc. will post 0.26 EPS for the current fiscal year.
In other news, VP Laura Barbrook sold 47,159 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $4.17, for a total value of $196,653.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.95% of the company’s stock.
Avon Products Company 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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