Spark Investment Management buys $10,724,250 stake in Avon Products (AVP)

Avon Products (AVP) : Spark Investment Management scooped up 296,900 additional shares in Avon Products during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 12, 2016. The investment management firm now holds a total of 1,975,000 shares of Avon Products which is valued at $10,724,250.Avon Products makes up approximately 0.93% of Spark Investment Management’s portfolio.

Other Hedge Funds, Including , Liberty Mutual Group Asset Management boosted its stake in AVP in the latest quarter, The investment management firm added 16,729 additional shares and now holds a total of 189,307 shares of Avon Products which is valued at $1,027,937. Avon Products makes up approx 0.04% of Liberty Mutual Group Asset Management’s portfolio. Oppenheimer Co Inc sold out all of its stake in AVP during the most recent quarter. The investment firm sold 21,368 shares of AVP which is valued $111,541. 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.Retirement Systems Of Alabama boosted its stake in AVP in the latest quarter, The investment management firm added 1,113 additional shares and now holds a total of 562,636 shares of Avon Products which is valued at $2,194,280. Avon Products makes up approx 0.01% of Retirement Systems Of Alabama’s portfolio.

Avon Products opened for trading at $5.78 and hit $5.84 on the upside on Monday, eventually ending the session at $5.76, with a gain of 0.52% or 0.03 points. The heightened volatility saw the trading volume jump to 44,57,218 shares. Company has a market cap of $2,517 M.

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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