Zacks Investment Research Upgrades Tupperware Brands Co. (TUP) to “Buy”
Tupperware Brands Co. (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 brokerage currently has a $78.00 price target on the stock. Zacks Investment Research‘s price objective suggests a potential upside of 11.89% from the company’s current price.
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 topic of several other research reports. TheStreet raised Tupperware Brands from a “c” rating to a “b-” rating in a research report on Wednesday, February 1st. Sidoti boosted their price objective on Tupperware Brands from $77.00 to $83.00 and gave the stock a “buy” rating in a research report on Monday. Finally, B. Riley raised Tupperware Brands from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $47.00 to $54.00 in a research report on Tuesday, January 31st. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $67.60.
Tupperware Brands (NYSE:TUP) traded up 0.37% during midday trading on Wednesday, hitting $69.97. 133,226 shares of the stock traded hands. The company has a 50-day moving average price of $68.60 and a 200-day moving average price of $60.80. The firm has a market cap of $3.55 billion, a P/E ratio of 15.63 and a beta of 1.65. Tupperware Brands has a 1-year low of $50.42 and a 1-year high of $74.36.
Tupperware Brands (NYSE:TUP) last posted its quarterly earnings data on Tuesday, April 25th. The company reported $1.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.07. Tupperware Brands had a return on equity of 117.25% and a net margin of 10.10%. The business had revenue of $554.80 million for the quarter, compared to analysts’ expectations of $532.58 million. During the same quarter in the previous year, the firm earned $0.91 earnings per share. The business’s revenue was up 5.5% on a year-over-year basis. Analysts predict that Tupperware Brands will post $4.70 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 6th. Stockholders of record on Tuesday, June 20th will be given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 3.90%. Tupperware Brands’s dividend payout ratio is presently 61.82%.
In other news, EVP Thomas M. Roehlk sold 26,000 shares of the company’s stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $61.47, for a total transaction of $1,598,220.00. Following the transaction, the executive vice president now owns 29,153 shares of the company’s stock, valued at approximately $1,792,034.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman E V. Goings sold 54,456 shares of the company’s stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $72.67, for a total value of $3,957,317.52. Following the transaction, the chairman now directly owns 9,459 shares in the company, valued at approximately $687,385.53. The disclosure for this sale can be found here. Insiders have sold a total of 96,266 shares of company stock worth $6,638,063 in the last ninety days. Insiders own 3.22% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. boosted its position in shares of Tupperware Brands by 15,657.3% in the first quarter. BlackRock Inc. now owns 8,529,559 shares of the company’s stock worth $534,973,000 after buying an additional 8,475,428 shares in the last quarter. Norges Bank purchased a new position in shares of Tupperware Brands during the fourth quarter worth approximately $21,925,000. Miller Howard Investments Inc. NY purchased a new position in shares of Tupperware Brands during the first quarter worth approximately $25,917,000. WBI Investments Inc. purchased a new position in shares of Tupperware Brands during the first quarter worth approximately $17,503,000. Finally, Thrivent Financial For Lutherans boosted its position in shares of Tupperware Brands by 215.8% in the first quarter. Thrivent Financial For Lutherans now owns 395,301 shares of the company’s stock worth $24,793,000 after buying an additional 270,111 shares in the last quarter. 87.95% of the stock is currently owned by hedge funds and other institutional investors.
About Tupperware Brands
Tupperware Brands Corporation is a global direct-to-consumer company. The Company operates through five segments in three geographic regions: Europe (Europe, Africa and the Middle East), Asia Pacific and the Americas. Its segments are Europe, Asia Pacific, Tupperware North America, Beauty North America and South America.
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