Here’s Why Tupperware Brands Corporation (TUP) Detracted in Q4

Miller Value Partners, an investment management company, released its “Deep Value Strategy” fourth-quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the Deep Value Strategy was up 34%, compared to a 13.49% gain for the S&P 1500 Value Index. Investment in Value and cyclical stocks favored the strategy in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Miller Value Deep Value Strategy highlighted stocks Tupperware Brands Corporation (NYSE:TUP) in the Q4 2022 investor letter. Headquartered in Orlando, Florida, Tupperware Brands Corporation (NYSE:TUP) is a consumer products company. On February 3, 2023, Tupperware Brands Corporation (NYSE:TUP) stock closed at $4.4700 per share. One-month return of Tupperware Brands Corporation (NYSE:TUP) was -6.29%, and its shares lost 71.36% of their value over the last 52 weeks. Tupperware Brands Corporation (NYSE:TUP) has a market capitalization of $198.817 million.

Miller Value Deep Value Strategy made the following comment about Tupperware Brands Corporation (NYSE:TUP) in its Q4 2022 investor letter:

"During the quarter we only had one detractor, Tupperware Brands Corporation (NYSE:TUP) whose share price was down more than 30%. The company is in a midst of a multi-year transformation focused on enhancing their global direct selling business, expanding their omnichannel presence, exiting non-core assets, rolling out new product innovation and enhancing the company technology and supply chain. Tupperware’s revenues have been adversely impacted by significant market weakness in Europe and China along with the company experiencing weaker volumes from implementing recent price increases. Management has undertaken a $100M cost reduction program and with the recent price actions beginning to offset commodity price pressures, the company should see profitability and cash flow generation improve over the coming year. In addition, management continues to make incremental investments in the business to further expand their omni-channel efforts and modernize their infrastructure. While it will take longer for the company to complete the turnaround plan, we believe the current share price has limited value for successfully completing the transformation."

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Tupperware Brands Corporation (NYSE:TUP) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 11 hedge fund portfolios held Tupperware Brands Corporation (NYSE:TUP) at the end of the third quarter which was 17 in the previous quarter.

We discussed Tupperware Brands Corporation (NYSE:TUP) in another article and shared the list of most volatile stocks under $5 for day trading. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.


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Disclosure: None. This article is originally published at Insider Monkey.