Tupperware Brands (NYSE:TUP) Shares Down 6.2%

Tupperware Brands Co. (NYSE:TUP)’s share price dropped 6.2% during trading on Thursday . The company traded as low as $7.41 and last traded at $7.55, approximately 2,730,631 shares were traded during mid-day trading. An increase of 182% from the average daily volume of 968,422 shares. The stock had previously closed at $8.05.

Several research firms have recently weighed in on TUP. Zacks Investment Research cut Tupperware Brands from a “hold” rating to a “sell” rating in a research note on Sunday, November 3rd. Citigroup reaffirmed a “neutral” rating and set a $9.00 price objective on shares of Tupperware Brands in a research report on Thursday. Finally, ValuEngine upgraded Tupperware Brands from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Three investment analysts have rated the stock with a sell rating and one has assigned a hold rating to the company’s stock. The company currently has an average rating of “Sell” and an average price target of $23.00.

The business’s 50 day moving average price is $10.92 and its 200 day moving average price is $15.31. The stock has a market capitalization of $413.20 million, a P/E ratio of 1.76, a price-to-earnings-growth ratio of 0.25 and a beta of 0.87.

Tupperware Brands (NYSE:TUP) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.43 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.20). Tupperware Brands had a net margin of 5.37% and a negative return on equity of 92.53%. The company had revenue of $418.10 million for the quarter, compared to the consensus estimate of $437.29 million. During the same quarter last year, the company earned $0.91 EPS. The firm’s revenue for the quarter was down 13.9% on a year-over-year basis. On average, sell-side analysts predict that Tupperware Brands Co. will post 2.8 earnings per share for the current year.

In other news, insider Stein Ove Fenne purchased 11,555 shares of the stock in a transaction dated Friday, November 15th. The shares were purchased at an average cost of $8.74 per share, with a total value of $100,990.70. Following the acquisition, the insider now directly owns 18,090 shares of the company’s stock, valued at $158,106.60. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.58% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the business. Signaturefd LLC boosted its stake in shares of Tupperware Brands by 1,143.1% during the 2nd quarter. Signaturefd LLC now owns 1,442 shares of the company’s stock worth $27,000 after acquiring an additional 1,326 shares during the last quarter. Quadrant Capital Group LLC raised its position in shares of Tupperware Brands by 962.8% during the 3rd quarter. Quadrant Capital Group LLC now owns 2,115 shares of the company’s stock valued at $31,000 after purchasing an additional 1,916 shares during the period. Point72 Hong Kong Ltd increased its stake in Tupperware Brands by 366.0% in the 2nd quarter. Point72 Hong Kong Ltd now owns 4,790 shares of the company’s stock worth $91,000 after buying an additional 3,762 shares in the last quarter. Advisory Services Network LLC boosted its stake in shares of Tupperware Brands by 154.3% in the second quarter. Advisory Services Network LLC now owns 6,964 shares of the company’s stock worth $133,000 after acquiring an additional 4,226 shares during the period. Finally, HGK Asset Management Inc. purchased a new stake in Tupperware Brands during the 3rd quarter valued at approximately $263,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

About Tupperware Brands (NYSE:TUP)

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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