Meeder Asset Management Inc. lessened its position in Tupperware Brands Co. (NYSE:TUP) by 4.7% during the third quarter, Holdings Channel reports. The institutional investor owned 31,924 shares of the company’s stock after selling 1,592 shares during the quarter. Meeder Asset Management Inc.’s holdings in Tupperware Brands were worth $507,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of TUP. LGT Capital Partners LTD. raised its stake in shares of Tupperware Brands by 75.9% in the 3rd quarter. LGT Capital Partners LTD. now owns 2,011,600 shares of the company’s stock worth $31,924,000 after buying an additional 868,180 shares in the last quarter. Mackenzie Financial Corp raised its stake in shares of Tupperware Brands by 195.8% in the 2nd quarter. Mackenzie Financial Corp now owns 803,427 shares of the company’s stock worth $15,289,000 after buying an additional 531,784 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Tupperware Brands by 41.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,560,955 shares of the company’s stock worth $29,705,000 after buying an additional 455,200 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Tupperware Brands by 18.5% in the 2nd quarter. AQR Capital Management LLC now owns 2,101,761 shares of the company’s stock worth $39,997,000 after buying an additional 327,978 shares in the last quarter. Finally, Prudential Financial Inc. grew its holdings in shares of Tupperware Brands by 28.7% in the 2nd quarter. Prudential Financial Inc. now owns 1,025,135 shares of the company’s stock worth $19,508,000 after acquiring an additional 228,493 shares during the last quarter. 84.74% of the stock is currently owned by institutional investors.
In other Tupperware Brands news, Director Kriss Cloninger III purchased 4,000 shares of the stock in a transaction dated Friday, July 26th. The shares were acquired at an average price of $15.00 per share, for a total transaction of $60,000.00. Following the completion of the acquisition, the director now owns 53,809 shares of the company’s stock, valued at approximately $807,135. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director E V. Goings purchased 33,500 shares of the stock in a transaction dated Friday, August 2nd. The shares were acquired at an average price of $15.00 per share, for a total transaction of $502,500.00. Following the acquisition, the director now directly owns 103,853 shares of the company’s stock, valued at approximately $1,557,795. The disclosure for this purchase can be found here. Insiders own 4.58% of the company’s stock.
Tupperware Brands (NYSE:TUP) last issued its earnings results on Wednesday, July 24th. The company reported $0.98 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.02 by ($0.04). The company had revenue of $475.30 million during the quarter, compared to analyst estimates of $503.40 million. Tupperware Brands had a negative return on equity of 98.57% and a net margin of 6.79%. The business’s revenue was down 11.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.09 earnings per share. As a group, sell-side analysts expect that Tupperware Brands Co. will post 3.43 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Wednesday, September 18th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 6.81%. The ex-dividend date of this dividend was Tuesday, September 17th. Tupperware Brands’s payout ratio is 25.12%.
A number of equities analysts recently issued reports on the company. ValuEngine upgraded Tupperware Brands from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Zacks Investment Research cut Tupperware Brands from a “hold” rating to a “sell” rating in a report on Friday. Finally, Citigroup decreased their target price on Tupperware Brands from $26.00 to $20.00 and set a “neutral” rating on the stock in a report on Friday, June 28th. Three analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. The company currently has a consensus rating of “Sell” and an average price target of $30.00.
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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