Stock Traders Buy High Volume of Call Options on Tupperware Brands (NYSE:TUP)

Tupperware Brands Co. (NYSE:TUP) saw some unusual options trading activity on Monday. Investors purchased 1,415 call options on the stock. This is an increase of 1,261% compared to the typical daily volume of 104 call options.

In related news, Director E V. Goings purchased 33,500 shares of the stock in a transaction dated Friday, August 2nd. The stock was bought at an average cost of $15.00 per share, for a total transaction of $502,500.00. Following the completion of the acquisition, the director now owns 103,853 shares of the company’s stock, valued at $1,557,795. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Kriss Cloninger III purchased 4,000 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was purchased at an average price of $15.00 per share, with a total value of $60,000.00. Following the completion of the purchase, the director now directly owns 53,809 shares in the company, valued at approximately $807,135. The disclosure for this purchase can be found here. Insiders own 4.58% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Tupperware Brands by 1.5% during the second quarter. Vanguard Group Inc. now owns 4,283,342 shares of the company’s stock worth $81,512,000 after acquiring an additional 64,988 shares during the last quarter. AQR Capital Management LLC increased its position in Tupperware Brands by 18.5% during the 2nd quarter. AQR Capital Management LLC now owns 2,101,761 shares of the company’s stock valued at $39,997,000 after purchasing an additional 327,978 shares during the period. Renaissance Technologies LLC increased its position in Tupperware Brands by 41.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,560,955 shares of the company’s stock valued at $29,705,000 after purchasing an additional 455,200 shares during the period. Bank of New York Mellon Corp increased its position in Tupperware Brands by 4.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,229,038 shares of the company’s stock valued at $23,388,000 after purchasing an additional 54,559 shares during the period. Finally, LGT Capital Partners LTD. raised its holdings in Tupperware Brands by 54.8% during the 2nd quarter. LGT Capital Partners LTD. now owns 1,143,420 shares of the company’s stock worth $21,759,000 after purchasing an additional 404,840 shares during the last quarter. Hedge funds and other institutional investors own 82.88% of the company’s stock.

TUP has been the subject of several research reports. Citigroup dropped their target price on Tupperware Brands from $26.00 to $20.00 and set a “neutral” rating for the company in a research report on Friday, June 28th. Bank of America reissued an “underperform” rating and set a $20.00 price target (down from $24.00) on shares of Tupperware Brands in a research note on Wednesday, June 19th. Finally, Zacks Investment Research cut Tupperware Brands from a “hold” rating to a “sell” rating in a report on Thursday, July 18th. Two research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. The stock presently has an average rating of “Hold” and an average price target of $30.00.

Shares of NYSE TUP opened at $15.29 on Wednesday. The firm has a 50 day moving average price of $14.12 and a two-hundred day moving average price of $20.84. The stock has a market cap of $667.47 million, a P/E ratio of 3.56, a price-to-earnings-growth ratio of 0.33 and a beta of 0.95. Tupperware Brands has a 52-week low of $12.00 and a 52-week high of $38.90.

Tupperware Brands (NYSE:TUP) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.04). Tupperware Brands had a negative return on equity of 98.57% and a net margin of 6.79%. The business had revenue of $475.30 million for the quarter, compared to analyst estimates of $503.40 million. During the same quarter last year, the firm posted $1.09 EPS. Tupperware Brands’s revenue for the quarter was down 11.2% on a year-over-year basis. On average, analysts expect that Tupperware Brands will post 3.48 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Wednesday, September 18th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 7.06%. The ex-dividend date of this dividend is Tuesday, September 17th. Tupperware Brands’s payout ratio is presently 25.12%.

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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