Trade Report: Today: Perkins Capital Management Inc. Buys 224,500 Shares of Avon Products Inc. (AVP)

Today: Perkins Capital Management Inc. Buys 224,500  Shares of Avon Products Inc. (AVP)

Perkins Capital Management Inc. purchased a new position in shares of Avon Products Inc. (NYSE:AVP) during the third quarter, Holdings Channel reports. The fund purchased 224,500 shares of the company’s stock, valued at approximately $1,271,000. Avon Products comprises approximately 1.3% of Perkins Capital Management Inc.’s holdings, making the stock its 22nd largest position. Perkins Capital Management Inc. owned approximately 0.05% of Avon Products at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the stock. LS Investment Advisors LLC boosted its stake in shares of Avon Products by 72.7% in the second quarter. LS Investment Advisors LLC now owns 26,439 shares of the company’s stock worth $100,000 after buying an additional 11,129 shares during the last quarter. Searle & CO. boosted its stake in shares of Avon Products by 38.5% in the third quarter. Searle & CO. now owns 18,000 shares of the company’s stock worth $100,000 after buying an additional 5,000 shares during the last quarter. Kessler Investment Group LLC acquired a new stake in shares of Avon Products during the third quarter worth approximately $103,000. Rational Advisors LLC acquired a new stake in shares of Avon Products during the second quarter worth approximately $104,000. Finally, Timber Hill LLC acquired a new stake in shares of Avon Products during the third quarter worth approximately $115,000. Institutional investors own 88.02% of the company’s stock.

Avon Products Inc. (NYSE:AVP) traded down 0.70% during trading on Monday, hitting $5.64. 824,519 shares of the company traded hands. The stock’s market capitalization is $2.47 billion. The company’s 50 day moving average is $6.12 and its 200-day moving average is $5.03. Avon Products Inc. has a 52 week low of $2.21 and a 52 week high of $6.96.

Avon Products (NYSE:AVP) last announced its earnings results on Thursday, November 3rd. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by $0.01. The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.42 billion. Avon Products had a negative net margin of 7.59% and a negative return on equity of 2.30%. The business’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.11) earnings per share. Analysts predict that Avon Products Inc. will post $0.13 earnings per share for the current year.

AVP has been the topic of a number of analyst reports. Zacks Investment Research raised shares of Avon Products from a “hold” rating to a “buy” rating and set a $6.75 target price on the stock in a report on Friday, October 14th. Deutsche Bank AG upped their target price on shares of Avon Products from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Wednesday, August 3rd. Finally, B. Riley reaffirmed a “neutral” rating and set a $7.00 target price on shares of Avon Products in a report on Saturday, November 12th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $7.94.

In other Avon Products news, Director Jose Armario bought 18,215 shares of the business’s stock in a transaction that occurred on Monday, November 21st. The stock was bought at an average cost of $5.50 per share, for a total transaction of $100,182.50. Following the completion of the transaction, the director now owns 18,215 shares of the company’s stock, valued at approximately $100,182.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.80% of the company’s stock.

Avon Products Company Profile

Avon Products, Inc is a manufacturer and marketer of beauty and related products. The Company’s product categories are Beauty, and Fashion and Home. Beauty consists of skincare (which includes personal care), fragrance and color (cosmetics). Fashion and Home consists of fashion jewelry, watches, apparel, footwear, accessories, gift and decorative products, housewares, entertainment and leisure products, children’s products and nutritional products.

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