Tupperware Brands Co. (NYSE:TUP) shares dropped 2.3% during trading on Thursday following a weaker than expected earnings announcement. The stock traded as low as $23.77 and last traded at $23.30. Approximately 25,005 shares traded hands during mid-day trading, a decline of 96% from the average daily volume of 563,523 shares. The stock had previously closed at $23.84.
The company reported $0.90 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.91 by ($0.01). Tupperware Brands had a net margin of 7.53% and a negative return on equity of 114.53%. The business had revenue of $487.30 million for the quarter, compared to analysts’ expectations of $496.60 million. During the same quarter in the previous year, the business posted $0.91 earnings per share. Tupperware Brands’s revenue for the quarter was down 10.2% on a year-over-year basis.
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Wednesday, March 20th were issued a $0.27 dividend. The ex-dividend date was Tuesday, March 19th. This represents a $1.08 dividend on an annualized basis and a yield of 4.61%. Tupperware Brands’s payout ratio is currently 25.12%.
TUP has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Tupperware Brands from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Thursday, January 10th. TheStreet upgraded shares of Tupperware Brands from a “d+” rating to a “c” rating in a report on Friday, March 15th. Four analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. The stock has a consensus rating of “Sell” and a consensus target price of $36.75.
In related news, Chairman E V. Goings bought 3,700 shares of the firm’s stock in a transaction on Friday, February 8th. The stock was acquired at an average cost of $26.92 per share, for a total transaction of $99,604.00. Following the purchase, the chairman now owns 51,243 shares in the company, valued at $1,379,461.56. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Susan M. Cameron bought 3,687 shares of the firm’s stock in a transaction on Thursday, February 7th. The shares were bought at an average price of $27.08 per share, with a total value of $99,843.96. Following the completion of the purchase, the director now owns 25,156 shares in the company, valued at approximately $681,224.48. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 10,887 shares of company stock valued at $295,068. 4.58% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in TUP. Norges Bank bought a new stake in shares of Tupperware Brands during the 4th quarter valued at $18,910,000. Prudential Financial Inc. grew its position in shares of Tupperware Brands by 1,424.7% during the 4th quarter. Prudential Financial Inc. now owns 521,469 shares of the company’s stock valued at $16,463,000 after acquiring an additional 487,267 shares during the period. AQR Capital Management LLC grew its position in shares of Tupperware Brands by 29.2% during the 3rd quarter. AQR Capital Management LLC now owns 1,367,580 shares of the company’s stock valued at $45,746,000 after acquiring an additional 309,008 shares during the period. Millennium Management LLC grew its position in shares of Tupperware Brands by 272.9% during the 4th quarter. Millennium Management LLC now owns 391,131 shares of the company’s stock valued at $12,348,000 after acquiring an additional 286,248 shares during the period. Finally, Canada Pension Plan Investment Board grew its position in shares of Tupperware Brands by 1,984.0% during the 4th quarter. Canada Pension Plan Investment Board now owns 195,900 shares of the company’s stock valued at $6,184,000 after acquiring an additional 186,500 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.
The stock has a market cap of $1.28 billion, a PE ratio of 5.44, a price-to-earnings-growth ratio of 0.54 and a beta of 0.84.
Tupperware Brands Company Profile (NYSE:TUP)
Tupperware Brands Corporation operates as a direct-to-consumer marketer of various products across a range of brands and categories in Europe, Africa, the Middle East, the Asia Pacific, North America, and South America. The company engages in the manufacture and sale of design-centric preparation, storage, and serving solutions for the kitchen and home, as well as a line of cookware, knives, microwave products, microfiber textiles, water-filtration related items, and an array of products for on-the-go consumers under the Tupperware brand name.
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