Avon Products, Inc. (NYSE:AVP) Director Acquires $872,694.28 in Stock

Avon Products, Inc. (NYSE:AVP) Director James A. Mitarotonda bought 456,908 shares of the company’s stock in a transaction on Tuesday, May 22nd. The shares were bought at an average price of $1.91 per share, for a total transaction of $872,694.28. Following the transaction, the director now owns 8,333 shares of the company’s stock, valued at $15,916.03. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Shares of AVP stock traded up $0.06 on Thursday, reaching $1.54. The company’s stock had a trading volume of 17,665,824 shares, compared to its average volume of 4,559,173. Avon Products, Inc. has a 12-month low of $1.48 and a 12-month high of $3.89. The company has a debt-to-equity ratio of -2.18, a quick ratio of 0.83 and a current ratio of 1.23. The company has a market capitalization of $697.85 million, a PE ratio of 25.67, a price-to-earnings-growth ratio of 1.05 and a beta of 1.33.

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 the Zacks’ consensus estimate of ($0.02). Avon Products had a negative return on equity of 9.55% and a net margin of 0.66%. The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter last year, the business posted ($0.07) earnings per share. The company’s revenue for the quarter was up .9% on a year-over-year basis. sell-side analysts forecast that Avon Products, Inc. will post 0.12 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in Avon Products by 39.7% during the first quarter. BlackRock Inc. now owns 38,121,936 shares of the company’s stock valued at $108,265,000 after purchasing an additional 10,834,803 shares in the last quarter. Yacktman Asset Management LP raised its position in Avon Products by 2.7% during the fourth quarter. Yacktman Asset Management LP now owns 19,641,467 shares of the company’s stock valued at $42,229,000 after purchasing an additional 509,083 shares in the last quarter. Investec Asset Management LTD raised its position in Avon Products by 54.4% during the fourth quarter. Investec Asset Management LTD now owns 12,369,917 shares of the company’s stock valued at $26,595,000 after purchasing an additional 4,359,067 shares in the last quarter. Renaissance Technologies LLC raised its position in Avon Products by 47.6% during the fourth quarter. Renaissance Technologies LLC now owns 11,914,500 shares of the company’s stock valued at $25,616,000 after purchasing an additional 3,842,800 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Avon Products by 20.9% during the first quarter. Dimensional Fund Advisors LP now owns 9,882,732 shares of the company’s stock valued at $28,067,000 after purchasing an additional 1,705,275 shares in the last quarter. Institutional investors and hedge funds own 81.67% of the company’s stock.

AVP has been the topic of several recent research reports. Zacks Investment Research downgraded Avon Products from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 17th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $2.00 price objective on shares of Avon Products in a research report on Friday, February 16th. Citigroup lowered their price objective on Avon Products from $3.50 to $3.00 and set a “buy” rating on the stock in a research report on Friday, May 4th. Deutsche Bank increased their price objective on Avon Products from $2.00 to $3.00 and gave the stock a “hold” rating in a research report on Friday, February 16th. Finally, ValuEngine downgraded Avon Products from a “hold” rating to a “sell” rating in a research report on Wednesday, March 7th. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. Avon Products has an average rating of “Hold” and a consensus target price of $2.53.

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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