Avon Shares Rally on Management Changes (AVP)

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Avon Products ( AVP ) has announced the company will begin a search for a new CEO, relieving current CEO Andrea Jung, who will remain on as the chairman of the company.

The stock is indicated to open up by nearly 10% on this news, but it has been a brutal year for the company's stock price - falling 44% so far year-to-date. The company's yield has risen to over 5%, but it remains to be seen if the shares are indeed a value trap.

The Bottom Line
Shares of Avon Products ( AVP ) currently sport a 5.70% dividend yield, based on last night's closing stock price of $16.14. The stock is nearing 5 year support around $15 a share, but if that fails to hold, it could dip down to the $12 levels. If the shares can firm up, we see overhead resistance around the $20 price level.


Avon Products ( AVP ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.1 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Stocks

Referenced Stocks: AVP

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