NJ State Employees Deferred Compensation Plan increased its holdings in Tupperware Brands Co. (NYSE:TUP) by 50.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,000 shares of the company’s stock after purchasing an additional 8,000 shares during the quarter. NJ State Employees Deferred Compensation Plan’s holdings in Tupperware Brands were worth $803,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in TUP. Asset Management One Co. Ltd. purchased a new position in shares of Tupperware Brands in the first quarter worth approximately $123,000. First Hawaiian Bank purchased a new position in shares of Tupperware Brands in the third quarter worth approximately $128,000. Beacon Investment Advisory Services Inc. purchased a new position in shares of Tupperware Brands in the second quarter worth approximately $201,000. State of Alaska Department of Revenue increased its position in shares of Tupperware Brands by 133.0% in the third quarter. State of Alaska Department of Revenue now owns 6,477 shares of the company’s stock worth $216,000 after acquiring an additional 3,697 shares in the last quarter. Finally, Trust Department MB Financial Bank N A purchased a new position in shares of Tupperware Brands in the second quarter worth approximately $260,000. Institutional investors and hedge funds own 85.34% of the company’s stock.
Several research analysts have recently weighed in on TUP shares. Zacks Investment Research downgraded shares of Tupperware Brands from a “buy” rating to a “hold” rating in a research report on Friday, June 29th. Argus downgraded shares of Tupperware Brands from a “hold” rating to a “sell” rating in a research report on Tuesday, July 31st. Finally, Bank of America dropped their target price on shares of Tupperware Brands from $35.00 to $34.00 and set an “underperform” rating on the stock in a research report on Thursday, October 4th. Four analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. Tupperware Brands currently has an average rating of “Hold” and a consensus target price of $50.60.
Tupperware Brands (NYSE:TUP) last announced its quarterly earnings data on Wednesday, July 25th. The company reported $1.17 EPS for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.05. Tupperware Brands had a negative net margin of 8.87% and a negative return on equity of 576.26%. The firm had revenue of $535.40 million for the quarter, compared to the consensus estimate of $548.69 million. During the same period in the previous year, the firm posted $1.21 earnings per share. The firm’s revenue was down 6.5% on a year-over-year basis. On average, equities analysts forecast that Tupperware Brands Co. will post 4.26 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 4th. Investors of record on Wednesday, September 19th were given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 8.66%. The ex-dividend date was Tuesday, September 18th. Tupperware Brands’s payout ratio is presently 56.20%.
Tupperware Brands Profile
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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