Shares of Avon Products Inc (NYSE:AVP) gapped up before the market opened on Thursday following insider buying activity. The stock had previously closed at $1.88, but opened at $1.94. Avon Products shares last traded at $1.94, with a volume of 7951851 shares traded.
Specifically, CEO Jan Zijderveld bought 250,000 shares of the business’s stock in a transaction dated Tuesday, May 15th. The shares were purchased at an average price of $1.93 per share, for a total transaction of $482,500.00. Following the purchase, the chief executive officer now directly owns 250,000 shares of the company’s stock, valued at $482,500. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Calero Miguel Angel Fernandez bought 100,000 shares of the business’s stock in a transaction dated Wednesday, May 16th. The stock was acquired at an average price of $1.89 per share, for a total transaction of $189,000.00. Following the purchase, the insider now directly owns 100,000 shares in the company, valued at $189,000. The disclosure for this purchase can be found here. 0.72% of the stock is owned by insiders.
A number of equities research analysts recently commented on the stock. Zacks Investment Research cut shares of Avon Products from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 17th. ValuEngine cut shares of Avon Products from a “hold” rating to a “sell” rating in a report on Wednesday, March 7th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $2.00 price target on shares of Avon Products in a report on Friday, February 16th. Deutsche Bank lifted their price target on shares of Avon Products from $2.00 to $3.00 and gave the stock a “hold” rating in a report on Friday, February 16th. Finally, Jefferies Group set a $2.00 price target on shares of Avon Products and gave the stock a “sell” rating in a report on Thursday, February 15th. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $2.53.
Avon Products (NYSE:AVP) last posted its quarterly earnings results on Thursday, May 3rd. The company reported ($0.02) EPS for the quarter, hitting 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 for the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter in the previous year, the firm posted ($0.07) EPS. Avon Products’s revenue was up .9% on a year-over-year basis. equities analysts predict that Avon Products Inc will post 0.13 earnings per share for the current year.
A number of hedge funds have recently modified their holdings of AVP. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in Avon Products by 169.0% during the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 51,362 shares of the company’s stock valued at $114,000 after acquiring an additional 32,268 shares during the period. Banque Pictet & Cie SA bought a new stake in Avon Products during the 1st quarter valued at $114,000. Xact Kapitalforvaltning AB bought a new stake in Avon Products during the 4th quarter valued at $136,000. Element Capital Management LLC bought a new stake in Avon Products during the 1st quarter valued at $143,000. Finally, CIBC Asset Management Inc raised its holdings in Avon Products by 256.7% during the 1st quarter. CIBC Asset Management Inc now owns 54,768 shares of the company’s stock valued at $156,000 after acquiring an additional 39,412 shares during the period. 82.30% of the stock is currently owned by institutional investors and hedge funds.
About Avon Products
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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