Dynamic Technology Lab Private Ltd Buys Shares of 52,318 Avon Products Inc. (AVP)
Dynamic Technology Lab Private Ltd bought a new position in shares of Avon Products Inc. (NYSE:AVP) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 52,318 shares of the company’s stock, valued at approximately $198,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC raised its position in Avon Products by 5.1% in the first quarter. Geode Capital Management LLC now owns 2,694,487 shares of the company’s stock worth $12,960,000 after buying an additional 131,047 shares during the last quarter. Riverhead Capital Management LLC purchased a new position in Avon Products during the first quarter worth about $703,000. UBS Asset Management Americas Inc. raised its position in Avon Products by 72.0% in the first quarter. UBS Asset Management Americas Inc. now owns 2,378,483 shares of the company’s stock worth $11,440,000 after buying an additional 995,651 shares during the last quarter. Lazard Asset Management LLC raised its position in Avon Products by 16,040.1% in the first quarter. Lazard Asset Management LLC now owns 564,904 shares of the company’s stock worth $2,717,000 after buying an additional 561,404 shares during the last quarter. Finally, State Street Corp raised its position in Avon Products by 1.4% in the first quarter. State Street Corp now owns 11,785,754 shares of the company’s stock worth $56,692,000 after buying an additional 161,159 shares during the last quarter. Institutional investors and hedge funds own 88.27% of the company’s stock.
Avon Products Inc. (NYSE:AVP) opened at 5.90 on Thursday. The stock’s 50 day moving average is $5.62 and its 200-day moving average is $4.67. Avon Products Inc. has a 12-month low of $2.21 and a 12-month high of $5.97. The company’s market capitalization is $2.58 billion.
Avon Products (NYSE:AVP) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.04. The company earned $1.43 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the prior year, the firm earned $0.11 earnings per share. Avon Products’s revenue for the quarter was down 8.3% on a year-over-year basis. On average, equities analysts predict that Avon Products Inc. will post $0.14 earnings per share for the current fiscal year.
A number of research analysts recently issued reports on the stock. B. Riley reiterated a “neutral” rating and issued a $5.25 target price on shares of Avon Products in a research note on Tuesday, August 9th. Zacks Investment Research upgraded shares of Avon Products from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 3rd. Deutsche Bank AG raised their price target on shares of Avon Products from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, August 3rd. Finally, Piper Jaffray Cos. restated a “neutral” rating and issued a $4.00 price target on shares of Avon Products in a research report on Thursday, July 14th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $7.54.
In related news, insider John Higson acquired 10,000 shares of the firm’s stock in a transaction on Thursday, August 11th. The shares were purchased at an average cost of $5.20 per share, for a total transaction of $52,000.00. Following the completion of the acquisition, the insider now directly owns 64,341 shares in the company, valued at $334,573.20. The purchase was disclosed in a filing with the SEC, which is available at this link. 0.80% of the stock is currently owned by company insiders.
About Avon Products
Avon Products, Inc is a manufacturer and marketer of beauty and related products. The Company’s product categories are Beauty, and Fashion and Home. Beauty consists of skincare (which includes personal care), fragrance and color (cosmetics). Fashion and Home consists of 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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