Tupperware Brands (TUP) Shares Down 2.3% After Earnings Miss

Share on StockTwits

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.

ILLEGAL ACTIVITY NOTICE: This piece was originally reported by Fairfield Current and is the property of of Fairfield Current. If you are reading this piece on another publication, it was stolen and republished in violation of U.S. & international trademark & copyright laws. The correct version of this piece can be viewed at https://www.fairfieldcurrent.com/news/2019/04/25/tupperware-brands-tup-shares-down-2-3-after-earnings-miss.html.

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.

Further Reading: Market Capitalization – What it Means for Investors

Receive News & Ratings for Tupperware Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tupperware Brands and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply