Shah Capital Management Lowers stake in Avon Products (AVP)

Avon Products (AVP) : Shah Capital Management reduced its stake in Avon Products by 2.0% during the most recent quarter end. The investment management company now holds a total of 2,742,143 shares of Avon Products which is valued at $11,215,365 after selling 55,886 shares in Avon Products , the firm said in a disclosure report filed with the SEC on Jul 14, 2016.Avon Products makes up approximately 7.10% of Shah Capital Management’s portfolio.

Other Hedge Funds, Including , Creative Planning reduced its stake in AVP by selling 224 shares or 3.53% in the most recent quarter. The Hedge Fund company now holds 6,123 shares of AVP which is valued at $24,737.Cutler Group Lp reduced its stake in AVP by selling 5,131 shares or 59.62% in the most recent quarter. The Hedge Fund company now holds 3,475 shares of AVP which is valued at $14,039.Searle reduced its stake in AVP by selling 5,000 shares or 27.78% in the most recent quarter. The Hedge Fund company now holds 13,000 shares of AVP which is valued at $52,520. Avon Products makes up approx 0.52% of Searle’s portfolio.Bnp Paribas Arbitrage Sa boosted its stake in AVP in the latest quarter, The investment management firm added 187,710 additional shares and now holds a total of 470,624 shares of Avon Products which is valued at $1,849,552. Avon Products makes up approx 0.01% of Bnp Paribas Arbitrage Sa’s portfolio.

Avon Products opened for trading at $4.1 and hit $4.11 on the upside on Monday, eventually ending the session at $4.09, with a gain of 0.25% or 0.01 points. The heightened volatility saw the trading volume jump to 29,52,200 shares. Company has a market cap of $1,786 M.

On the company’s financial health, Avon Products reported $-0.07 EPS for the quarter, missing the analyst consensus estimate by $ -0.10 based on the information available during the earnings call on May 5, 2016. Analyst had a consensus of $0.03. The company had revenue of $1306.50 million for the quarter, compared to analysts expectations of $1296.25 million. The company’s revenue was down -15.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.03 EPS.

Many Wall Street Analysts have commented on Avon Products. Jefferies Initiated Avon Products on Jun 3, 2016 to “Buy”, Price Target of the shares are set at $7.

Avon Products Inc. is a manufacturer and marketer of beauty and related products. The Company’s offers its products under two product categories: Beauty and Fashion & Home. Beauty consists of skincare (which includes personal care) fragrance and color (cosmetics). Fashion & Home consists of fashion jewelry watches apparel footwear accessories gift and decorative products housewares entertainment and leisure products children’s products and nutritional products. The Company’s segments are -based on geographic operations and include commercial business units in Latin America; Europe Middle East & Africa; North America and Asia Pacific. The Company’s business is conducted primarily in one channel direct selling. The Company has sales operations in 60 countries and territories including the United States and distributed its products in 41 other countries and territories.

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