GW&K Investment Management LLC Trims Position in Tupperware Brands Co. (TUP)
GW&K Investment Management LLC decreased its stake in shares of Tupperware Brands Co. (NYSE:TUP) by 10.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 476,191 shares of the company’s stock after selling 56,258 shares during the quarter. GW&K Investment Management LLC’s holdings in Tupperware Brands were worth $29,857,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in TUP. Huber Capital Management LLC increased its position in Tupperware Brands by 44.3% during the third quarter. Huber Capital Management LLC now owns 904,724 shares of the company’s stock worth $55,930,000 after buying an additional 277,660 shares in the last quarter. Teachers Advisors LLC increased its position in Tupperware Brands by 439.0% during the second quarter. Teachers Advisors LLC now owns 277,596 shares of the company’s stock worth $19,496,000 after buying an additional 226,091 shares in the last quarter. Quantitative Investment Management LLC purchased a new position in Tupperware Brands during the second quarter worth $9,235,000. Strs Ohio purchased a new position in Tupperware Brands during the third quarter worth $6,182,000. Finally, JPMorgan Chase & Co. increased its position in Tupperware Brands by 90.6% during the third quarter. JPMorgan Chase & Co. now owns 191,578 shares of the company’s stock worth $11,730,000 after buying an additional 91,088 shares in the last quarter. 83.66% of the stock is owned by institutional investors.
TUP has been the subject of several recent research reports. Zacks Investment Research raised Tupperware Brands from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a research report on Thursday, September 28th. Citigroup raised their price target on Tupperware Brands from $67.00 to $68.00 and gave the stock a “neutral” rating in a research report on Monday, October 2nd. KeyCorp reissued a “hold” rating on shares of Tupperware Brands in a research report on Thursday, October 12th. Morgan Stanley raised their price target on Tupperware Brands from $71.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 26th. Finally, ValuEngine raised Tupperware Brands from a “hold” rating to a “buy” rating in a research report on Thursday, October 26th. 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. The stock has an average rating of “Hold” and an average target price of $68.83.
Tupperware Brands (NYSE:TUP) last announced its quarterly earnings data on Wednesday, October 25th. The company reported $1.03 EPS for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.09. The business had revenue of $539.50 million during the quarter, compared to the consensus estimate of $538.80 million. Tupperware Brands had a return on equity of 101.23% and a net margin of 6.18%. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.87 earnings per share. analysts expect that Tupperware Brands Co. will post 4.75 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 5th. Stockholders of record on Wednesday, December 20th were given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date was Tuesday, December 19th. Tupperware Brands’s dividend payout ratio is currently 98.91%.
In other news, EVP Thomas M. Roehlk sold 2,000 shares of Tupperware Brands stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $59.39, for a total value of $118,780.00. Following the completion of the sale, the executive vice president now owns 10,765 shares of the company’s stock, valued at $639,333.35. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman E V. Goings sold 44,600 shares of Tupperware Brands stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $59.26, for a total value of $2,642,996.00. Following the completion of the sale, the chairman now directly owns 54,059 shares of the company’s stock, valued at approximately $3,203,536.34. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,600 shares of company stock valued at $3,010,776. Company insiders own 3.22% of the company’s stock.
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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