Zebra Capital Management LLC Boosts Holdings in Tupperware Brands Co. (NYSE:TUP)
Zebra Capital Management LLC boosted its holdings in Tupperware Brands Co. (NYSE:TUP) by 24.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,546 shares of the company’s stock after purchasing an additional 4,824 shares during the period. Zebra Capital Management LLC’s holdings in Tupperware Brands were worth $1,012,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the business. MetLife Investment Advisors LLC lifted its stake in shares of Tupperware Brands by 74.6% in the second quarter. MetLife Investment Advisors LLC now owns 55,684 shares of the company’s stock worth $2,296,000 after buying an additional 23,785 shares in the last quarter. Metropolitan Life Insurance Co. NY lifted its position in Tupperware Brands by 75.9% during the second quarter. Metropolitan Life Insurance Co. NY now owns 30,003 shares of the company’s stock valued at $1,237,000 after purchasing an additional 12,947 shares during the period. Cubist Systematic Strategies LLC bought a new position in Tupperware Brands during the second quarter valued at approximately $389,000. Voya Investment Management LLC lifted its position in Tupperware Brands by 99.2% during the second quarter. Voya Investment Management LLC now owns 213,698 shares of the company’s stock valued at $8,813,000 after purchasing an additional 106,438 shares during the period. Finally, Vulcan Value Partners LLC lifted its position in Tupperware Brands by 110.9% during the second quarter. Vulcan Value Partners LLC now owns 991,383 shares of the company’s stock valued at $40,885,000 after purchasing an additional 521,386 shares during the period. Hedge funds and other institutional investors own 85.34% of the company’s stock.
A number of brokerages recently weighed in on TUP. Zacks Investment Research downgraded shares of Tupperware Brands from a “hold” rating to a “sell” rating in a research report on Saturday. Argus cut shares of Tupperware Brands from a “hold” rating to a “sell” rating in a report on Tuesday, July 31st. Finally, Bank of America reduced their target price on shares of Tupperware Brands from $35.00 to $34.00 and set an “underperform” rating for the company in a report on Thursday. Four equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. The company has a consensus rating of “Hold” and an average price target of $50.60.
Tupperware Brands (NYSE:TUP) last posted its earnings results on Wednesday, July 25th. The company reported $1.17 earnings per share for the quarter, beating the Thomson Reuters’ 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 company had revenue of $535.40 million during the quarter, compared to analysts’ expectations of $548.69 million. During the same period last year, the company posted $1.21 earnings per share. Tupperware Brands’s quarterly revenue was down 6.5% on a year-over-year basis. On average, equities research analysts forecast that Tupperware Brands Co. will post 4.26 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 4th. Shareholders of record on Wednesday, September 19th were given a dividend of $0.68 per share. The ex-dividend date was Tuesday, September 18th. This represents a $2.72 annualized dividend and a yield of 8.44%. Tupperware Brands’s dividend payout ratio (DPR) is currently 56.20%.
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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