Do Hedge Funds Love Tupperware Brands Corporation (TUP)?

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Now, key hedge funds have jumped into Tupperware Brands Corporation (NYSE:TUP) headfirst. Cove Street Capital, managed by Jeffrey Bronchick, assembled the biggest position in Tupperware Brands Corporation (NYSE:TUP). Cove Street Capital had $10.7 million invested in the company at the end of the quarter. Andrew Sandler’s Sandler Capital Management also initiated a $5 million position during the quarter. The other funds with new positions in the stock are Matthew Hulsizer’s PEAK6 Capital Management, David Harding’s Winton Capital Management, and John Overdeck and David Siegel’s Two Sigma Advisors.

Let’s also examine hedge fund activity in other stocks similar to Tupperware Brands Corporation (NYSE:TUP). These stocks are Cimpress NV (NASDAQ:CMPR), Cathay General Bancorp (NASDAQ:CATY), ALLETE Inc (NYSE:ALE), and Ternium S.A. (ADR) (NYSE:TX). All of these stocks’ market caps match TUP’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
CMPR 14 697422 -3
CATY 12 64848 1
ALE 11 42483 0
TX 13 27548 2

As you can see these stocks had an average of 12.5 hedge funds with bullish positions and the average amount invested in these stocks was $208 million. That figure was $128 million in TUP’s case. Cimpress NV (NASDAQ:CMPR) is the most popular stock in this table. On the other hand ALLETE Inc (NYSE:ALE) is the least popular one with only 11 bullish hedge fund positions. Compared to these stocks Tupperware Brands Corporation (NYSE:TUP) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

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