Zacks Investment Research Upgrades Tupperware Brands Corp. (TUP) to “Buy”
Tupperware Brands Corp. (NYSE:TUP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The brokerage currently has a $70.00 price objective on the stock. Zacks Investment Research’s price objective points to a potential upside of 11.75% from the company’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. “
Other research analysts have also issued research reports about the stock. B. Riley reissued a “neutral” rating and set a $53.00 price objective on shares of Tupperware Brands Corp. in a research note on Monday, July 25th. Piper Jaffray Cos. reissued a “neutral” rating and set a $61.00 price objective on shares of Tupperware Brands Corp. in a research note on Thursday, August 4th. SunTrust Banks Inc. reissued a “neutral” rating and set a $62.00 price objective (up previously from $57.00) on shares of Tupperware Brands Corp. in a research note on Monday, July 25th. Finally, TheStreet raised shares of Tupperware Brands Corp. from a “hold” rating to a “buy” rating in a research note on Thursday, June 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. Tupperware Brands Corp. currently has an average rating of “Hold” and an average target price of $59.50.
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Tupperware Brands Corp. (NYSE:TUP) opened at 62.64 on Wednesday. The firm has a market cap of $3.17 billion, a price-to-earnings ratio of 16.66 and a beta of 1.59. The stock’s 50 day moving average is $64.52 and its 200 day moving average is $59.24. Tupperware Brands Corp. has a 52 week low of $42.60 and a 52 week high of $66.90.
Tupperware Brands Corp. (NYSE:TUP) last issued its earnings results on Wednesday, July 20th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.06. The company had revenue of $564.70 million for the quarter, compared to analyst estimates of $559.91 million. Tupperware Brands Corp. had a net margin of 8.63% and a return on equity of 134.49%. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.21 EPS. Equities research analysts expect that Tupperware Brands Corp. will post $4.32 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Tuesday, September 20th will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date of this dividend is Friday, September 16th. Tupperware Brands Corp.’s payout ratio is currently 72.34%.
In other Tupperware Brands Corp. news, insider Asha Gupta sold 917 shares of Tupperware Brands Corp. stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $62.70, for a total value of $57,495.90. Following the transaction, the insider now owns 15,000 shares of the company’s stock, valued at $940,500. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Thomas M. Roehlk sold 2,000 shares of Tupperware Brands Corp. stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $56.44, for a total transaction of $112,880.00. Following the completion of the transaction, the executive vice president now directly owns 43,800 shares in the company, valued at approximately $2,472,072. The disclosure for this sale can be found here. 3.22% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new stake in Tupperware Brands Corp. during the fourth quarter worth about $35,462,000. Capstone Asset Management Co. increased its stake in Tupperware Brands Corp. by 2.0% in the first quarter. Capstone Asset Management Co. now owns 56,608 shares of the company’s stock worth $3,282,000 after buying an additional 1,100 shares during the period. Ramsey Quantitative Systems increased its stake in Tupperware Brands Corp. by 5.5% in the first quarter. Ramsey Quantitative Systems now owns 10,712 shares of the company’s stock worth $621,000 after buying an additional 555 shares during the period. Edmp Inc. increased its stake in Tupperware Brands Corp. by 1.0% in the first quarter. Edmp Inc. now owns 63,186 shares of the company’s stock worth $3,664,000 after buying an additional 640 shares during the period. Finally, Teachers Advisors Inc. increased its stake in Tupperware Brands Corp. by 55.6% in the first quarter. Teachers Advisors Inc. now owns 58,791 shares of the company’s stock worth $3,409,000 after buying an additional 21,000 shares during the period. Institutional investors own 92.14% of the company’s stock.
About Tupperware Brands Corp.
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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