Avon Products, Inc. (AVP) Stake Lowered by Macquarie Group Ltd.

Macquarie Group Ltd. lessened its position in Avon Products, Inc. (NYSE:AVP) by 23.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 278,830 shares of the company’s stock after selling 87,070 shares during the quarter. Macquarie Group Ltd.’s holdings in Avon Products were worth $614,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of AVP. Millennium Management LLC boosted its stake in shares of Avon Products by 97.2% in the 2nd quarter. Millennium Management LLC now owns 8,251,494 shares of the company’s stock valued at $13,367,000 after purchasing an additional 4,066,931 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Avon Products by 8.5% in the 2nd quarter. BlackRock Inc. now owns 41,350,428 shares of the company’s stock valued at $66,988,000 after purchasing an additional 3,228,492 shares in the last quarter. First Washington CORP acquired a new stake in shares of Avon Products in the 3rd quarter valued at $5,321,000. General American Investors Co. Inc. acquired a new stake in shares of Avon Products in the 3rd quarter valued at $5,247,000. Finally, Paloma Partners Management Co boosted its stake in shares of Avon Products by 7,858.9% in the 2nd quarter. Paloma Partners Management Co now owns 1,480,674 shares of the company’s stock valued at $2,399,000 after purchasing an additional 1,462,070 shares in the last quarter. Institutional investors own 74.73% of the company’s stock.

Several equities research analysts have recently commented on the stock. ValuEngine downgraded shares of Avon Products from a “buy” rating to a “hold” rating in a research note on Wednesday, January 2nd. Zacks Investment Research upgraded shares of Avon Products from a “sell” rating to a “hold” rating in a research note on Wednesday, September 19th. DA Davidson upgraded shares of Avon Products from a “neutral” rating to a “buy” rating and upped their price target for the stock from $1.75 to $3.50 in a research report on Monday, September 24th. Finally, TheStreet upgraded shares of Avon Products from a “d” rating to a “c-” rating in a research report on Friday, November 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. Avon Products has an average rating of “Hold” and a consensus price target of $2.65.

Shares of NYSE AVP opened at $1.79 on Friday. The stock has a market cap of $787.40 million, a P/E ratio of 29.83, a P/E/G ratio of 0.97 and a beta of 1.61. Avon Products, Inc. has a 12-month low of $1.30 and a 12-month high of $2.99.

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

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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.

Read More: What is a blue-chip stock?

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

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