Investing

Unusual Put Option Trade in Tupperware Brands Worth $42.50K

Fintel Staff

Published: February 17, 2023 2:10 am

Last Updated: February 17, 2023 11:11 am

On February 16, 2023 at 14:08:19 (ET) an unusually large $42.50K block of Put contracts in Tupperware Brands (TUP) was bought, with a strike price of $5.00 / share, expiring in 29 days (on March 17, 2023). Fintel tracks all large options trades, and the premium spent on this trade was ? sigmas above the mean, placing it in the percentile of all recent large trades made in TUP options.

Analyst Price Forecast Suggests 43.94% Upside

As of February 16, 2023, the average one-year price target for Tupperware Brands is $6.29. The forecasts range from a low of $4.54 to a high of $9.45. The average price target represents an increase of 43.94% from its latest reported closing price of $4.37.

The projected annual revenue for Tupperware Brands is $1,216MM, a decrease of 12.28%. The projected annual EPS is $0.90, an increase of 1.06%.

What is the Fund Sentiment?

There are 384 funds or institutions reporting positions in Tupperware Brands. This is a decrease of 25 owner(s) or 6.11% in the last quarter. Average portfolio weight of all funds dedicated to TUP is 0.03%, a decrease of 44.45%. Total shares owned by institutions decreased in the last three months by 9.35% to 33,850K shares. The put/call ratio of TUP is 0.56, indicating a bullish outlook.

What are large shareholders doing?

IJR – iShares Core S&P Small-Cap ETF holds 2,845K shares representing 6.40% ownership of the company. In it’s prior filing, the firm reported owning 3,202K shares, representing a decrease of 12.58%. The firm decreased its portfolio allocation in TUP by 6.86% over the last quarter.

Millennium Management holds 2,112K shares representing 4.75% ownership of the company. In it’s prior filing, the firm reported owning 550K shares, representing an increase of 73.97%. The firm increased its portfolio allocation in TUP by 127.19% over the last quarter.

ESPAX – Wells Fargo Special Small Cap Value Fund holds 1,767K shares representing 3.97% ownership of the company. In it’s prior filing, the firm reported owning 1,961K shares, representing a decrease of 11.01%. The firm increased its portfolio allocation in TUP by 2.38% over the last quarter.

Allspring Global Investments Holdings holds 1,639K shares representing 3.69% ownership of the company. In it’s prior filing, the firm reported owning 2,171K shares, representing a decrease of 32.44%. The firm decreased its portfolio allocation in TUP by 80.41% over the last quarter.

Charles Schwab Investment Management holds 1,447K shares representing 3.25% ownership of the company. In it’s prior filing, the firm reported owning 1,130K shares, representing an increase of 21.95%. The firm decreased its portfolio allocation in TUP by 99.93% over the last quarter.

Tupperware Brands Background Information
(This description is provided by the company.)

Tupperware Brands Corporation (NYSE: TUP) is a leading global consumer products company that designs innovative, functional and environmentally responsible products that people love and trust. Founded in 1946, Tupperware’s signature container created the modern food storage category that revolutionized the way the world stores, serves and prepares food. Today, this iconic brand has more than 8,500 functional design and utility patents for solution-oriented kitchen and home products. With a purpose to nurture a better future, Tupperware® products are an alternative to single-use items. The Company distributes its products into nearly 80 countries primarily through independent representatives around the world.

This article originally appeared on Fintel