First Washington CORP Purchases New Position in Avon Products, Inc. (AVP)

First Washington CORP purchased a new position in shares of Avon Products, Inc. (NYSE:AVP) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 2,418,536 shares of the company’s stock, valued at approximately $5,321,000. Avon Products accounts for approximately 2.5% of First Washington CORP’s portfolio, making the stock its 13th biggest holding. First Washington CORP owned approximately 0.55% of Avon Products at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Laurion Capital Management LP bought a new position in shares of Avon Products during the 2nd quarter worth $147,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Avon Products during the 2nd quarter worth $151,000. Dorsey & Whitney Trust CO LLC bought a new position in Avon Products in the 3rd quarter worth about $166,000. Jane Street Group LLC bought a new position in Avon Products in the 2nd quarter worth about $184,000. Finally, Miller Value Partners LLC boosted its stake in Avon Products by 746.4% in the 2nd quarter. Miller Value Partners LLC now owns 170,238 shares of the company’s stock worth $276,000 after purchasing an additional 150,125 shares during the period. Institutional investors own 74.76% of the company’s stock.

Shares of NYSE AVP opened at $2.15 on Tuesday. Avon Products, Inc. has a 52 week low of $1.38 and a 52 week high of $2.99. The stock has a market capitalization of $937.80 million, a price-to-earnings ratio of 35.83, a P/E/G ratio of 2.69 and a beta of 1.39.

Avon Products (NYSE:AVP) last issued its earnings results on Thursday, November 1st. The company reported $0.02 EPS for the quarter, topping the consensus estimate of $0.01 by $0.01. Avon Products had a negative return on equity of 7.67% and a net margin of 2.61%. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter last year, the company earned $0.03 EPS. The firm’s revenue was up .5% compared to the same quarter last year. On average, equities analysts expect that Avon Products, Inc. will post 0.05 earnings per share for the current year.

Several brokerages have commented on AVP. ValuEngine upgraded Avon Products from a “hold” rating to a “buy” rating in a research note on Tuesday, September 18th. Zacks Investment Research upgraded Avon Products from a “sell” rating to a “hold” rating in a research note on Wednesday, September 19th. DA Davidson upgraded Avon Products from a “neutral” rating to a “buy” rating and raised their target price for the stock from $1.75 to $3.50 in a research note on Monday, September 24th. Finally, TheStreet upgraded Avon Products from a “d” rating to a “c-” rating in a research note on Friday, November 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $2.63.

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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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Institutional Ownership by Quarter for Avon Products (NYSE:AVP)

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