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New Avon CEO rallies the troops after earnings
Feb. 15, 2018 9:01 AM ET|About: Avon Products, Inc. (AVP)|By: Clark Schultz, SA News Editor
Avon Products (NYSE:AVP) rallies after knocking out a Q4 profit beat on revenue of $1.57B.
The company's recorded a gross margin rate of 61.1% of sales to top the consensus estimate for a 60.8% mark and last year's level of 60.3%. A favorable product mix helped boost the company's margin rate during the quarter. Adjusted operating margin rose 250 bps to 9.8% of sales.
New CEO Jan Zijderveld makes his first appearance in an Avon earnings report. "Very few brands have Avon's brand recognition, extensive global reach and operate in attractive beauty channel categories," says the recently hired exec. "In a world where trust in companies is becoming a scarce commodity, our Representatives' relationships with their consumers has never been more relevant or compelling," he adds.
AVP +10.13% premarket to $2.50 vs. a 52-week trading range of $1.85 to $5.41.
Avon Products, Inc. ($AVP) Holdings Increased by Gabelli Funds LLC
Posted by Ethan Ryder on Feb 14th, 2018 // No Comments
inShare
Avon Products logoGabelli Funds LLC boosted its position in Avon Products, Inc. (NYSE:$AVP) by 28.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 640,000 shares of the company’s stock after purchasing an additional 140,000 shares during the period. Gabelli Funds LLC’s holdings in Avon Products were worth $1,376,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in AVP. Shelton Capital Management acquired a new position in shares of Avon Products in the 2nd quarter valued at $122,000. Verition Fund Management LLC boosted its holdings in shares of Avon Products by 27.3% in the 2nd quarter. Verition Fund Management LLC now owns 58,058 shares of the company’s stock valued at $221,000 after purchasing an additional 12,437 shares during the last quarter. PEAK6 Investments L.P. acquired a new position in shares of Avon Products in the 3rd quarter valued at $139,000. Schroder Investment Management Group acquired a new position in shares of Avon Products in the 3rd quarter valued at $156,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Avon Products in the 2nd quarter valued at $307,000. 83.21% of the stock is owned by hedge funds and other institutional investors.
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Avon Products, Inc. (NYSE AVP) opened at $2.20 on Wednesday. The company has a current ratio of 1.42, a quick ratio of 0.97 and a debt-to-equity ratio of -2.31. Avon Products, Inc. has a 1-year low of $1.85 and a 1-year high of $5.95.
A number of brokerages have weighed in on AVP. Zacks Investment Research upgraded shares of Avon Products from a “hold” rating to a “buy” rating and set a $2.50 price target on the stock in a report on Monday, October 23rd. Bank of America lowered shares of Avon Products from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $3.00 to $2.50 in a report on Thursday, January 4th. ValuEngine upgraded shares of Avon Products from a “sell” rating to a “hold” rating in a report on Friday, December 1st. DA Davidson reiterated a “hold” rating and issued a $2.00 price target on shares of Avon Products in a report on Tuesday, November 7th. Finally, Jefferies Group decreased their price target on shares of Avon Products from $2.20 to $1.75 and set an “underperform” rating on the stock in a report on Friday, November 3rd. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. Avon Products presently has an average rating of “Hold” and a consensus price target of $2.86.
Avon Products Company Profile
Avon Products, Inc is a manufacturer and marketer of beauty and related products. The Company’s segments include Europe, Middle East & Africa; South Latin America; North Latin America, and Asia Pacific. Its product categories are Beauty, and Fashion and Home. Beauty consists of skincare (which includes personal care), fragrance and color (cosmetics).
Want to see what other hedge funds are holding AVP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Avon Products, Inc. (NYSE:$AVP).
Agreed...$avp..chart shows $3.40 near term..strong play here...
$AVP is Looking Strong. I Wouldnt be Surprised if it Doubled This Year.
$avp..bought in friday...strong chart breakout starting....
* * $AVP Video Chart 02-15-18 * *
Link to Video - click here to watch the technical chart video
$AVP Nice Move on Earnings. Nice Bounce Underway!
$AVP Nice Move on Earnings. Nice Bounce Underway!
Current Report Filing (8-k)
Print
Alert
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 3, 2018
Avon Products, Inc.
(Exact name of registrant as specified in charter)
New York
(State or other jurisdiction
of incorporation)
1-4881
(Commission
File Number)
Building 6, Chiswick Park
London W4 5HR
United Kingdom
(Address of principal executive offices) (Zip Code)
+44-1604-232425
(Registrant’s telephone number, including area code)
13-0544597
(IRS Employer
Identification No.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
?
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
?
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
?
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
?
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ?
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ?
ITEM 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On February 5, 2018, Avon Products, Inc. (the “ Company ”) announced that Jan Zijderveld joined the Company as its Chief Executive Officer reporting to the Company’s Board of Directors (the “ Board ”). Mr. Zijderveld was also elected to serve as a member of the Board, effective February 5, 2018. In accordance with the letter agreement between the Company and Sherilyn McCoy, dated as of August 2, 2017, which was previously filed with the Securities and Exchange Commission, Ms. McCoy will step down as Chief Executive Officer and member of the Board effective as of February 4, 2018, but remain employed as an advisor to the Board and to Mr. Zijderveld during a transition period through March 31, 2018.
Mr. Zijderveld , age 53, previously served 30 years with Unilever N.V./PLC, where he rose to a member of the Executive Committee and President of Unilever’s $14 billion European business in 2011. Prior to that, he served as Executive Vice President in South East Asia and Australasia and Non-Executive Chairman of Unilever’s listed Indonesian business from 2008-2011. Prior to that, he served as CEO of Unilever, Middle East and North Africa (MENA) from 2007-2008 and Chairman of Arabia and Iran within Unilever MENA from 2004-2007, after serving in a number of leadership positions across Europe, Australia and New Zealand in General Management, marketing, sales and distribution.
Mr. Zijderveld entered into an offer letter and contract of employment with Avon Cosmetics Limited, a wholly-owned subsidiary of the Company organized in England and Wales (“ Avon Cosmetics ”), dated as of February 3, 2018 (the “ Agreement ”), which provides for the following key compensation and benefits:
·
an annual base salary of no less than £850,000;
·
an annual incentive opportunity with a target award equal to 200% of base salary, subject to achievement of certain performance goals (provided that his 2018 annual incentive will be no less than £850,000);
·
participation in the Company’s long-term incentive program for similarly situated executives with an annual target award value of at least 300% of base salary; and
·
participation in Avon Cosmetics’ medical, insurance and pension schemes and other benefit programs.
For 2018, Mr. Zijderveld’s long-term incentive program awards will have an aggregate target award value of 300% of base salary (£2,550,000). 40% of such value will be delivered through premium-priced options to acquire shares of the Company’s common stock at a per share exercise price equal to 125% of the per share closing sales price on the date of grant, which will vest in equal annual installments over three years. 60% of such value will be delivered through performance-based restricted stock units, which will vest based on service and performance conditions over a three-year period.
Mr. Zijderveld will also receive sign-on equity awards consisting of 600,000 service-vesting restricted stock units, which will cliff-vest on the third anniversary of the grant date, and 600,000 performance-based restricted stock units, which will vest based on service and performance conditions over a three-year period.
The foregoing 2018 long-term incentive program awards and sign-on equity awards were approved unanimously by the Company’s Compensation and Management Development Committee and the Board as employment inducement grants pursuant to NYSE Listed Company Manual Rule 303A.08.
In addition, upon a qualifying termination of Mr. Zijderveld’s employment (which includes an involuntary termination without cause or a resignation by him for “good reason” (generally defined as (i) a material diminution in his base salary, (ii) a material diminution in his authority, duties or responsibilities, (iii) a material change in the geographic location at which he must perform the services or (iv) any other circumstances that Mr. Zijderveld and the Board mutually agree constitute good reason), he is entitled to receive (1) a severance benefit equal to 24 months’ base salary, (2) a prorated annual bonus for the year of termination and (3) any unpaid annual bonus for completed fiscal years, subject to Mr. Zijderveld’s entry into a settlement agreement, which will include a general release of claims as well as noncompetition, nonsolicitation and other covenants.
Mr. Zijderveld is covered by the Company’s Amended and Restated Change in Control Policy so that if, within two years after a change in control, his employment is terminated either involuntarily without cause or if he resigns for good reason (as defined above), Mr. Zijderveld would be entitled to receive a severance benefit equal to two times the
sum of his then current annual base salary and target annual bonus, and two years of continued benefits. In addition, other compensation plans of the Company in which he will participate, including the long-term incentive program described above, contain change-in-control provisions as described in the Company’s 2017 proxy statement.
Mr. Zijderveld will be subject to the Company’s stock ownership guidelines, which provides for him to have an ownership target in Company stock equal to six times base salary. He will be expected to hold 75% of net shares acquired upon vesting of equity awards until this target has been satisfied. Mr. Zijderveld will also be subject to the Company’s Amended and Restated Compensation Recoupment Policy.
The foregoing description of the Agreement does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Agreement, which will be filed as an exhibit to the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2018.
ITEM 8.01
Other Events.
On February 5, 2018, the Company issued a press release relating to the announcement described in Item 5.02. The release is filed as Exhibit 99.1 to this Current Report on Form 8-K.
ITEM 9.01
Financial Statements and Exhibits.
99.1
Press Release, dated February 5, 2018.
$AVP Earnings in the Morning. Active and Moved Nice After Hours. Coming Off Of Bottom.
On Radar!
Avon Products, Inc. (AVP)
2.33 ? 0.07 (3.10%)
Volume: 4,031,697 @ 7:26:50 PM EST ET
Bid Ask Day's Range
- - 2.26 - 2.35
AVP Detailed Quote
Este Lauder worth 40 times Avon????/ Thats like stupid
450.000 shares bought in green last 60 seconds and after hours minutes today
Avon Products, Inc. (AVP)
2.585 ? 0.025 (0.98%)
Volume: 1,112,930 @ 10:46:18 AM EDT ET
Bid Ask Day's Range
- - 2.55 - 2.6
AVP Detailed Quote
Avon Products, Inc. (AVP)
3.69 ? 0.0 (0.00%)
Volume: 0 @- ET
Bid Ask Day's Range
- - - - -
AVP Detailed Quote
why? for what benefit?
thank you fer updating/ Avon Products, Inc. (AVP)
3.55 ? 0.04 (1.14%)
Volume: 3,003,973 @ 12:46:38 PM ET
Bid Ask Day's Range
- - 3.459 - 3.6
AVP Detailed Quote
play at this number 349
AVP News: James Thompson Appointed Senior Vice President, General Counsel and Chief Ethics & Compliance Officer of Avon Products, Inc. 05/19/2017 07:19:00 AM
AVP News: Statement of Changes in Beneficial Ownership (4) 05/11/2017 06:33:34 PM
AVP News: Statement of Changes in Beneficial Ownership (4) 05/11/2017 06:31:17 PM
AVP News: Statement of Changes in Beneficial Ownership (4) 05/11/2017 06:30:19 PM
AVP News: Statement of Changes in Beneficial Ownership (4) 05/11/2017 06:28:29 PM
Avon Products, Inc. (AVP)
3.55 ? 0.0 (0.00%)
Volume: 143 @ 8:21:40 AM ET
Bid Ask Day's Range
- - - - -
AVP Detailed Quote
Avon Products, Inc. (AVP)
4.31 ? -0.07 (-1.60%)
Volume: 11,536,461 @ 4:28:57 PM ET
Bid Ask Day's Range
- - 4.25 - 4.4
AVP Detailed Quote
AVP News: Current Report Filing (8-k) 03/23/2017 05:12:13 PM
AVP News: Current Report Filing (8-k) 03/22/2017 03:54:41 PM
AVP News: Statement of Changes in Beneficial Ownership (4) 03/21/2017 07:54:13 PM
AVP News: Statement of Changes in Beneficial Ownership (4) 03/21/2017 07:53:45 PM
AVP News: Statement of Changes in Beneficial Ownership (4) 03/21/2017 07:52:50 PM
News News Alert: Current Report Filing (8-k) 03/23/2017 05:12:13 PM
Avon Products, Inc. (AVP)
4.295 ? -0.025 (-0.58%)
Volume: 1,749,106 @ 2:46:49 PM ET
Bid Ask Day's Range
- - 4.28 - 4.39
AVP Detailed Quote
we may get our wish/ 'Avon Products Inc. (AVP)'
Amazon should buy Avon
AVP News: Avon to Webcast Fourth-Quarter and Full-Year 2016 Earnings Conference Call 01/19/2017 04:30:00 PM
AVP News: Initial Statement of Beneficial Ownership (3) 01/10/2017 04:35:23 PM
AVP News: Amended Statement of Ownership (sc 13g/a) 01/09/2017 02:04:20 PM
AVP News: Statement of Changes in Beneficial Ownership (4) 01/04/2017 05:05:00 PM
AVP News: Statement of Changes in Beneficial Ownership (4) 01/04/2017 05:03:16 PM
Avon Products, Inc. (AVP)
5.755 ? 0.015 (0.26%)
Volume: 3,053,651 @ 1:27:54 PM ET
Bid Ask Day's Range
- - 5.54 - 5.76
AVP Detailed Quote
Avon Products, Inc. (AVP)
5.04 ? -0.1 (-1.95%)
Volume: 5,280,685 @ 4:52:44 PM ET
Bid Ask Day's Range
- - 4.99 - 5.14
AVP Detailed Quote
AVP News: Chris Wermann Named Chief Communications Officer of Avon Products, Inc. 12/19/2016 04:45:00 PM
AVP News: Current Report Filing (8-k) 12/01/2016 06:47:04 AM
AVP News: Jamie Wilson Named CFO of Avon Products, Inc.; James Scully to Continue as COO 12/01/2016 06:40:00 AM
AVP News: Statement of Changes in Beneficial Ownership (4) 11/22/2016 03:30:03 PM
AVP News: Avon to Present at the Bank of America Merrill Lynch Leveraged Finance Conference 11/22/2016 09:00:00 AM
Avon Products, Inc. (AVP)
5.53 ? 0.14 (2.60%)
Volume: 5,305,074 @ 5:19:27 PM ET
Bid Ask Day's Range
- - 5.33 - 5.57
AVP Detailed Quote
AVP News: Current Report Filing (8-k) 12/01/2016 06:47:04 AM
AVP News: Jamie Wilson Named CFO of Avon Products, Inc.; James Scully to Continue as COO 12/01/2016 06:40:00 AM
AVP News: Statement of Changes in Beneficial Ownership (4) 11/22/2016 03:30:03 PM
AVP News: Avon to Present at the Bank of America Merrill Lynch Leveraged Finance Conference 11/22/2016 09:00:00 AM
AVP News: Quarterly Report (10-q) 11/03/2016 06:53:05 AM
i think appointment helped here/ 'Avon Products Inc. (AVP)'
hello mick, Climbing up, without any comments, no messages, where is everybody
thank you for showing interest here./
'Avon Products Inc. (AVP)'
thanks, the same for you from belgium, sorry but no any updates to give
Avon Products, Inc. (AVP)
5.4399 ? -0.0201 (-0.37%)
Volume: 4,333,464 @ 6:28:01 PM ET
Bid Ask Day's Range
- - 5.25 - 5.47
AVP Detailed Quote
any updates for us ????? avp ?????
thank you, happy veteran's day.
lowest level in 3 months and now green to the highest in 3 years , I hope it for us.
not a lot of messages here my friend, but be sure that was the bottom we've just touched, good luck to you.
Avon Products, Inc. (AVP)
6.63 ? -0.1 (-1.49%)
Volume: 3,758,047 @ 7:44:27 PM ET
Bid Ask Day's Range
- - 6.55 - 6.8
AVP Detailed Quote
AVP News: Statement of Changes in Beneficial Ownership (4) 10/19/2016 04:48:07 PM
AVP News: Current Report Filing (8-k) 10/13/2016 04:38:05 PM
AVP News: Automatic Shelf Registration Statement of Securities of Well-known Seasoned Issuers (s-3asr) 10/11/2016 06:51:36 AM
AVP News: Current Report Filing (8-k) 10/11/2016 06:51:35 AM
AVP News: Avon to Webcast Third-Quarter 2016 Earnings Conference Call 10/07/2016 09:00:00 AM
AVP News: Current Report Filing (8-k) 10/13/2016 04:38:05 PM
AVP News: Automatic Shelf Registration Statement of Securities of Well-known Seasoned Issuers (s-3asr) 10/11/2016 06:51:36 AM
AVP News: Current Report Filing (8-k) 10/11/2016 06:51:35 AM
AVP News: Avon to Webcast Third-Quarter 2016 Earnings Conference Call 10/07/2016 09:00:00 AM
AVP News: Statement of Changes in Beneficial Ownership (4) 10/04/2016 04:03:39 PM
Avon Products, Inc. (AVP)
6.28 ? 0.28 (4.67%)
Volume: 5,565,863 @ 7:05:51 PM ET
Bid Ask Day's Range
- - 6.03 - 6.33
AVP Detailed Quote
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