Millennium Management LLC recently announced the acquisition of new stake in Tupperware Brands Corporation (NYSE:TUP). The institutional investor has increased its shareholding in the Consumer Cyclical company by 284.18% to 2.11 million shares with purchase of 1.56 million shares. This fresh investment now brings its stake to 4.75% valued currently at $8.66 million. In addition, Charles Schwab Investment Managem raised its holdings by 0.32 million to 1.45 million shares. And D. E. Shaw & Co. LP has lifted its position by 259.96% or 1.0 million shares – to 1.39 million shares.
With over 1.98 million Tupperware Brands Corporation (TUP) shares trading Tuesday and a closing price of $2.48 on the day, the dollar volume was approximately $4.91 million. The shares have shown a negative half year performance of -75.99% and its price on 03/14/23 gained nearly 0.40%. Currently, there are 44.50M common shares owned by the public and among those 37.92M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 2 analysts who have offered their price forecasts for TUP have a consensus price objective of $5.00. The analysts have set the share’s price value over the next 12 months at a high of $8.00 and a low of $3.00. The average price target is 54.91% above its recent price level and an upside to the estimated low will see the stock gain 17.33% over that period. But an upside of 69.0% will see the stock hit the forecast high price target while median target price for the stock is $4.00.
Insiders at the company have transacted a total of 50 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 46 of these insider trades were purchases, accounting for 1,377,515 shares. Insider sales of the common stock occurred on 4 occasions, with total insider shares sold totaling 65,103 shares.
The top 3 mutual fund holders in Tupperware Brands Corporation are Vanguard Total Stock Market Index, Allspring Special Small Cap Value, and iShares Russell 2000 ETF. Vanguard Total Stock Market Index owns 1.33 million shares of the company’s stock, all valued at over $5.43 million. Allspring Special Small Cap Value sold 15000.0 shares to see its total holdings shrink to 1.3 million shares valued at over $5.32 million and representing 2.92% of the shares outstanding. iShares Russell 2000 ETF sold 3060.0 shares to bring its total holdings to over 0.97 million shares at a value of $3.97 million. iShares Russell 2000 ETF now owns shares totaling to 2.17% of the shares outstanding.
Shares of Tupperware Brands Corporation (NYSE: TUP) opened at $2.61, up $0.14 from a prior closing price of $2.47. However, the script later moved the day high at 2.6599, up 0.40%. The company’s stock has a 5-day price change of -29.75% and -39.36% over the past three months. TUP shares are trading -40.10% year to date (YTD), with the 12-month market performance down to -86.08% lower. It has a 12-month low price of $2.39 and touched a high of $21.10 over the same period. TUP has an average intraday trading volume of 1.16 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -33.59%, -39.08%, and -60.99% respectively.
Institutional ownership of Tupperware Brands Corporation (NYSE: TUP) shares accounts for 67.30% of the company’s 44.50M shares outstanding. Mutual fund holders own 38.81%, while other institutional holders and individual stakeholders account for 9.62% and 26.90% respectively.
It has a market capitalization of $116.26M and a beta (3y monthly) value of 2.29. The earnings-per-share (ttm) stands at -$0.65. Price movements for the stock have been influenced by the stock’s volatility, which stands at 9.57% over the week and 8.70% over the month.
Analysts forecast that Tupperware Brands Corporation (TUP) will achieve an EPS of $0.23 for the current quarter, $0.13 for the next quarter and $0.89 for 2023. The lowest estimate earnings-per-share for the quarter is $0.09 while analysts give the company a high EPS estimate of $0.29. Comparatively, EPS for the current quarter was $0.38 a year ago. Earnings per share for the fiscal year are expected to increase by 38.50%, and 46.11% over the next financial year. EPS should grow at an annualized rate of 12.00% over the next five years, compared to -7.80% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 2 brokerage firm advisors rate Tupperware Brands Corporation (TUP) as a “Hold” at a consensus score of 3.00. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 2 of the 2 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the TUP, a number of firms have released research notes about the stock. DA Davidson stated their Neutral rating for the stock in a research note on May 05, 2022, with the firm’s price target at $13. Citigroup coverage for the Tupperware Brands Corporation (TUP) stock in a research note released on May 05, 2022 offered a Neutral rating with a price target of $13. Citigroup was of a view on May 07, 2021 that the stock is Buy, while DA Davidson gave the stock Buy rating on September 15, 2020, issuing a price target of $30. Argus on their part issued Hold rating on August 17, 2020.
