Turning Point Brands, Inc. (NYSE:TPB – Get Free Report) has been assigned a consensus recommendation of “Moderate Buy” from the six ratings firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $113.50.
TPB has been the subject of several research analyst reports. Needham & Company LLC upgraded shares of Turning Point Brands from a “hold” rating to a “buy” rating and set a $125.00 price objective for the company in a report on Friday, May 8th. BTIG Research assumed coverage on Turning Point Brands in a report on Tuesday, July 21st. They set a “buy” rating and a $103.00 target price on the stock. Weiss Ratings lowered Turning Point Brands from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 2nd. Wall Street Zen cut Turning Point Brands from a “sell” rating to a “strong sell” rating in a research note on Sunday. Finally, Compass Point set a $103.00 price target on Turning Point Brands in a research report on Tuesday, July 21st.
Check Out Our Latest Stock Report on Turning Point Brands
Turning Point Brands Stock Up 7.5%
Turning Point Brands (NYSE:TPB – Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.68 by $0.08. Turning Point Brands had a net margin of 11.53% and a return on equity of 16.54%. The firm had revenue of $124.28 million during the quarter, compared to analysts’ expectations of $115.67 million. During the same period last year, the company posted $0.91 EPS. The company’s quarterly revenue was up 16.8% compared to the same quarter last year. Research analysts anticipate that Turning Point Brands will post 1.39 EPS for the current year.
Turning Point Brands Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 18th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Friday, September 18th. Turning Point Brands’s payout ratio is 10.88%.
Insider Buying and Selling at Turning Point Brands
In other news, CAO Brian Wigginton sold 4,000 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $91.67, for a total value of $366,680.00. Following the sale, the chief accounting officer directly owned 9,230 shares of the company’s stock, valued at $846,114.10. This represents a 30.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 5.40% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Turning Point Brands
A number of hedge funds and other institutional investors have recently bought and sold shares of TPB. Apis Capital Advisors LLC increased its holdings in Turning Point Brands by 186.2% in the 4th quarter. Apis Capital Advisors LLC now owns 164,377 shares of the company’s stock worth $17,818,000 after buying an additional 106,948 shares in the last quarter. Copeland Capital Management LLC lifted its stake in Turning Point Brands by 29,795.8% during the 4th quarter. Copeland Capital Management LLC now owns 204,188 shares of the company’s stock valued at $22,134,000 after acquiring an additional 203,505 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Turning Point Brands by 73.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 49,970 shares of the company’s stock valued at $4,940,000 after acquiring an additional 21,131 shares during the last quarter. M&T Bank Corp boosted its holdings in shares of Turning Point Brands by 712.5% during the 4th quarter. M&T Bank Corp now owns 19,499 shares of the company’s stock valued at $2,114,000 after acquiring an additional 17,099 shares during the last quarter. Finally, Bronte Capital Management Pty Ltd. bought a new stake in shares of Turning Point Brands in the fourth quarter worth approximately $2,642,000. Hedge funds and other institutional investors own 96.12% of the company’s stock.
Turning Point Brands Company Profile
Turning Point Brands, Inc (NYSE: TPB) is a U.S.-based consumer products company focused on the manufacture, marketing and distribution of smokeless tobacco, vaping and cigar products. Headquartered in Old Hickory, Tennessee, the company serves retail outlets across all 50 states through a direct-store-delivery network and select third-party distributors. Turning Point Brands operates two reporting segments—Smokeless Products and Cigar—and leverages its logistics capabilities to offer a broad portfolio of brands and SKUs.
In its Smokeless Products segment, Turning Point Brands produces moist smokeless tobacco under leading brand names such as Grizzly, Kodiak and Stoker’s.
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