Shah Capital Management buys $18,590,460 stake in Avon Products (AVP)

Avon Products (AVP) : Shah Capital Management scooped up 356,267 additional shares in Avon Products during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 13, 2016. The investment management firm now holds a total of 3,098,410 shares of Avon Products which is valued at $18,590,460.Avon Products makes up approximately 10.46% of Shah Capital Management’s portfolio.

Other Hedge Funds, Including , Parametrica Management Ltd sold out all of its stake in AVP during the most recent quarter. The investment firm sold 34,250 shares of AVP which is valued $205,500. North Star Investment Management Corp. sold out all of its stake in AVP during the most recent quarter. The investment firm sold 200 shares of AVP which is valued $1,200.Cutler Group Lp reduced its stake in AVP by selling 3,353 shares or 96.49% in the most recent quarter. The Hedge Fund company now holds 122 shares of AVP which is valued at $752.Searle boosted its stake in AVP in the latest quarter, The investment management firm added 5,000 additional shares and now holds a total of 18,000 shares of Avon Products which is valued at $110,880. Avon Products makes up approx 0.10% of Searle’s portfolio.Oregon Public Employees Retirement Fund reduced its stake in AVP by selling 164,617 shares or 52.15% in the most recent quarter. The Hedge Fund company now holds 151,053 shares of AVP which is valued at $930,486. Avon Products makes up approx 0.02% of Oregon Public Employees Retirement Fund’s portfolio.

Avon Products closed down -0.16 points or -2.60% at $6 with 38,50,730 shares getting traded on Tuesday. Post opening the session at $6.08, the shares hit an intraday low of $5.9 and an intraday high of $6.12 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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 .

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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