Tupperware Brands Co. (NYSE:TUP) saw a large growth in short interest during the month of July. As of July 31st, there was short interest totalling 3,757,000 shares, a growth of 16.8% from the June 30th total of 3,217,100 shares. Currently, 7.8% of the shares of the stock are short sold. Based on an average trading volume of 747,300 shares, the days-to-cover ratio is currently 5.0 days.
TUP has been the topic of several recent analyst reports. Zacks Investment Research downgraded Tupperware Brands from a “hold” rating to a “sell” rating in a report on Thursday, July 18th. Bank of America reiterated an “underperform” rating and issued a $20.00 target price (down previously from $24.00) on shares of Tupperware Brands in a report on Wednesday, June 19th. Finally, Citigroup dropped their target price on Tupperware Brands from $26.00 to $20.00 and set a “neutral” rating on the stock in a report on Friday, June 28th. Two equities research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. The company presently has an average rating of “Hold” and an average price target of $30.00.
Tupperware Brands stock traded down $0.44 during mid-day trading on Wednesday, hitting $13.80. 615,400 shares of the company were exchanged, compared to its average volume of 813,215. Tupperware Brands has a 1-year low of $13.37 and a 1-year high of $38.90. The company has a market capitalization of $722.61 million, a P/E ratio of 3.21, a PEG ratio of 0.35 and a beta of 0.91. The business has a fifty day moving average of $16.78.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Wednesday, September 18th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 7.83%. The ex-dividend date of this dividend is Tuesday, September 17th. Tupperware Brands’s dividend payout ratio (DPR) is 25.12%.
In related news, Director E V. Goings acquired 33,500 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were purchased at an average price of $15.00 per share, for a total transaction of $502,500.00. Following the acquisition, the director now owns 103,853 shares in the company, valued at $1,557,795. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kriss Cloninger III acquired 4,000 shares of the business’s stock in a transaction on Friday, July 26th. The shares were bought at an average price of $15.00 per share, for a total transaction of $60,000.00. Following the acquisition, the director now owns 53,809 shares in the company, valued at approximately $807,135. The disclosure for this purchase can be found here. 4.58% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. Quadrant Capital Group LLC increased its stake in shares of Tupperware Brands by 264.9% in the 1st quarter. Quadrant Capital Group LLC now owns 1,029 shares of the company’s stock worth $25,000 after purchasing an additional 747 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new stake in Tupperware Brands in the 1st quarter worth $27,000. Trustcore Financial Services LLC purchased a new stake in Tupperware Brands in the 1st quarter worth $33,000. Signaturefd LLC increased its stake in Tupperware Brands by 1,143.1% in the 2nd quarter. Signaturefd LLC now owns 1,442 shares of the company’s stock worth $27,000 after buying an additional 1,326 shares in the last quarter. Finally, Advisory Services Network LLC increased its stake in Tupperware Brands by 154.3% in the 2nd quarter. Advisory Services Network LLC now owns 6,964 shares of the company’s stock worth $133,000 after buying an additional 4,226 shares in the last quarter. 83.64% of the stock is currently owned by institutional investors and hedge funds.
Tupperware Brands Company Profile
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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