Northern Trust Corp raised its stake in Tupperware Brands Co. (NYSE:TUP) by 90.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 819,230 shares of the company’s stock after acquiring an additional 389,191 shares during the period. Northern Trust Corp owned approximately 1.64% of Tupperware Brands worth $33,785,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Bank of New York Mellon Corp increased its holdings in Tupperware Brands by 3.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,100,328 shares of the company’s stock valued at $45,377,000 after acquiring an additional 39,623 shares during the last quarter. Mainstay Capital Management LLC ADV increased its holdings in shares of Tupperware Brands by 4,024.0% in the 2nd quarter. Mainstay Capital Management LLC ADV now owns 48,828 shares of the company’s stock worth $1,184,000 after buying an additional 47,644 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Tupperware Brands by 122.4% in the 2nd quarter. Advisors Asset Management Inc. now owns 94,089 shares of the company’s stock worth $3,880,000 after buying an additional 51,780 shares during the last quarter. Miller Value Partners LLC bought a new stake in shares of Tupperware Brands in the 2nd quarter worth about $4,124,000. Finally, Lingohr & Partner Asset Management GmbH bought a new stake in shares of Tupperware Brands in the 2nd quarter worth about $1,386,000. Institutional investors own 85.02% of the company’s stock.
A number of analysts have recently weighed in on the stock. Citigroup reduced their target price on shares of Tupperware Brands from $39.00 to $33.00 and set a “neutral” rating on the stock in a report on Wednesday. Zacks Investment Research downgraded shares of Tupperware Brands from a “hold” rating to a “sell” rating in a report on Saturday, October 6th. Bank of America reduced their target price on shares of Tupperware Brands from $35.00 to $34.00 and set an “underperform” rating on the stock in a report on Thursday, October 4th. Finally, Argus downgraded shares of Tupperware Brands from a “hold” rating to a “sell” rating in a report on Tuesday, July 31st. Four equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $46.00.
Tupperware Brands stock opened at $31.31 on Friday. Tupperware Brands Co. has a twelve month low of $29.82 and a twelve month high of $66.26. The company has a debt-to-equity ratio of -3.44, a quick ratio of 0.50 and a current ratio of 0.91. The stock has a market capitalization of $1.56 billion, a PE ratio of 6.47, a price-to-earnings-growth ratio of 0.62 and a beta of 1.33.
Tupperware Brands (NYSE:TUP) last posted its earnings results on Wednesday, July 25th. The company reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.05. The firm had revenue of $535.40 million for the quarter, compared to the consensus estimate of $548.69 million. Tupperware Brands had a negative net margin of 8.87% and a negative return on equity of 576.26%. The business’s quarterly revenue was down 6.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.21 EPS. On average, equities analysts forecast that Tupperware Brands Co. will post 4.2 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, October 4th. Investors of record on Wednesday, September 19th were issued a dividend of $0.68 per share. The ex-dividend date was Tuesday, September 18th. This represents a $2.72 annualized dividend and a yield of 8.69%. Tupperware Brands’s payout ratio is 56.20%.
About Tupperware Brands
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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