Tupperware Brands Corp. (TUP) Stock Rating Upgraded by Zacks Investment Research
Tupperware Brands Corp. (NYSE:TUP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The firm currently has a $70.00 price target on the stock. Zacks Investment Research’s price objective would indicate a potential upside of 10.41% from the stock’s previous close.
According to Zacks, “Tupperware Brands Corporation is a global direct seller of premium, innovative products across multiple brands and categories through an independent sales force. Product brands and categories include design-centric preparation, storage and serving solutions for the kitchen and home through the Tupperware brand and beauty and personal care products through its Avroy Shlain, BeautiControl, Fuller, NaturCare, Nutrimetics, Nuvo and Swissgarde brands. “
TUP has been the subject of several other research reports. TheStreet upgraded Tupperware Brands Corp. from a “hold” rating to a “buy” rating in a report on Thursday, June 23rd. Piper Jaffray Cos. reaffirmed a “neutral” rating and issued a $61.00 price objective (up from $55.00) on shares of Tupperware Brands Corp. in a research note on Friday, July 22nd. SunTrust Banks Inc. reaffirmed a “neutral” rating and issued a $62.00 price objective (up from $57.00) on shares of Tupperware Brands Corp. in a research note on Monday, July 25th. Finally, B. Riley reaffirmed a “neutral” rating and issued a $53.00 price objective on shares of Tupperware Brands Corp. in a research note on Monday, July 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $59.50.
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Shares of Tupperware Brands Corp. (NYSE:TUP) traded up 1.21% during midday trading on Wednesday, reaching $63.40. The company had a trading volume of 1,367,275 shares. The stock has a market capitalization of $3.20 billion, a price-to-earnings ratio of 16.86 and a beta of 1.59. The firm’s 50 day moving average price is $64.52 and its 200-day moving average price is $59.24. Tupperware Brands Corp. has a 1-year low of $42.60 and a 1-year high of $66.90.
Tupperware Brands Corp. (NYSE:TUP) last released its quarterly earnings results on Wednesday, July 20th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.06. The business earned $564.70 million during the quarter, compared to analysts’ expectations of $559.91 million. Tupperware Brands Corp. had a return on equity of 134.49% and a net margin of 8.63%. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.21 EPS. Equities research analysts expect that Tupperware Brands Corp. will post $4.32 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Tuesday, September 20th will be paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date is Friday, September 16th. Tupperware Brands Corp.’s dividend payout ratio is currently 72.34%.
In other Tupperware Brands Corp. news, EVP Thomas M. Roehlk sold 2,000 shares of Tupperware Brands Corp. stock in a transaction on Friday, July 1st. The stock was sold at an average price of $56.44, for a total transaction of $112,880.00. Following the completion of the sale, the executive vice president now directly owns 43,800 shares of the company’s stock, valued at approximately $2,472,072. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Angel R. Martinez sold 10,000 shares of Tupperware Brands Corp. stock in a transaction on Monday, July 25th. The shares were sold at an average price of $62.23, for a total value of $622,300.00. Following the sale, the director now directly owns 28,439 shares of the company’s stock, valued at $1,769,758.97. The disclosure for this sale can be found here. Corporate insiders own 3.22% of the company’s stock.
Large investors have recently modified their holdings of the stock. Mason Street Advisors LLC purchased a new stake in shares of Tupperware Brands Corp. during the second quarter worth $1,296,000. Royal Bank of Canada raised its stake in shares of Tupperware Brands Corp. by 10.6% in the second quarter. Royal Bank of Canada now owns 35,546 shares of the company’s stock worth $1,999,000 after buying an additional 3,403 shares during the period. IFP Advisors Inc raised its stake in shares of Tupperware Brands Corp. by 875.6% in the second quarter. IFP Advisors Inc now owns 3,844 shares of the company’s stock worth $216,000 after buying an additional 3,450 shares during the period. Public Employees Retirement System of Ohio raised its stake in shares of Tupperware Brands Corp. by 54.8% in the second quarter. Public Employees Retirement System of Ohio now owns 15,947 shares of the company’s stock worth $897,000 after buying an additional 5,647 shares during the period. Finally, Cove Street Capital LLC raised its stake in shares of Tupperware Brands Corp. by 34.5% in the second quarter. Cove Street Capital LLC now owns 290,805 shares of the company’s stock worth $16,366,000 after buying an additional 74,635 shares during the period. 92.14% of the stock is owned by institutional investors and hedge funds.
Tupperware Brands Corp. Company Profile
Tupperware Brands Corporation is engaged in the manufacture and sale of Tupperware products, and cosmetics and personal care products. The Company’s segments are Europe, Asia Pacific, Tupperware North America, Beauty North America and South America. The Europe, Asia Pacific and Tupperware North America segments include design-centric preparation, storage and serving solutions for the kitchen and home through the Tupperware brand.
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