Yacktman Asset Management Lp Lowers stake in Avon Products (AVP)

Avon Products (AVP) : Yacktman Asset Management Lp reduced its stake in Avon Products by 9.02% during the most recent quarter end. The investment management company now holds a total of 25,605,741 shares of Avon Products which is valued at $130,077,164 after selling 2,537,301 shares in Avon Products , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Avon Products makes up approximately 1.06% of Yacktman Asset Management Lp’s portfolio.

Other Hedge Funds, Including , Boston Private Wealth sold out all of its stake in AVP during the most recent quarter. The investment firm sold 10,352 shares of AVP which is valued $52,588. Ftb Advisors added AVP to its portfolio by purchasing 113 company shares during the most recent quarter which is valued at $460.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.Marshwinds Advisory Co reduced its stake in AVP by selling 4,800 shares or 6.8% in the most recent quarter. The Hedge Fund company now holds 65,776 shares of AVP which is valued at $258,500. Avon Products makes up approx 0.13% of Marshwinds Advisory Co’s portfolio.

Avon Products closed down -0.02 points or -0.39% at $5.06 with 72,57,827 shares getting traded on Thursday. Post opening the session at $5.11, the shares hit an intraday low of $5.02 and an intraday high of $5.195 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Avon Products reported $-0.02 EPS for the quarter, missing the analyst consensus estimate by $ -0.05 based on the information available during the earnings call on Aug 2, 2016. Analyst had a consensus of $0.03. The company had revenue of $1434.30 million for the quarter, compared to analysts expectations of $1404.25 million. The company’s revenue was down -8.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.11 EPS.

Many Wall Street Analysts have commented on Avon Products. Company shares were Reiterated by B. Riley & Co. on Aug 3, 2016 to “Neutral”, Firm has raised the Price Target to $ 5.25 from a previous price target of $4.50 .Company shares were Reiterated by Deutsche Bank on Aug 3, 2016 to “Buy”, Firm has raised the Price Target to $ 8 from a previous price target of $7 .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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