Turning Point Brands, Inc. (NYSE:TPB) Receives $116.67 Average PT from Brokerages

Turning Point Brands, Inc. (NYSE:TPB) has been assigned a consensus rating of “Hold” from the five ratings firms that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $116.6667.

A number of research analysts recently commented on the company. Zacks Research cut Turning Point Brands from a “hold” rating to a “strong sell” rating in a report on Monday, March 2nd. Oppenheimer reaffirmed an “outperform” rating and set a $130.00 price objective on shares of Turning Point Brands in a report on Wednesday, January 14th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Turning Point Brands in a research report on Tuesday, December 23rd. Finally, Wall Street Zen downgraded shares of Turning Point Brands from a “buy” rating to a “hold” rating in a report on Saturday, January 17th.

Insider Buying and Selling

In other Turning Point Brands news, CFO Andrew Flynn sold 2,000 shares of the stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $97.57, for a total transaction of $195,140.00. Following the completion of the transaction, the chief financial officer owned 9,443 shares of the company’s stock, valued at $921,353.51. This represents a 17.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 6.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Turning Point Brands

Hedge funds have recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. grew its holdings in Turning Point Brands by 43.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 488,833 shares of the company’s stock valued at $52,990,000 after buying an additional 147,032 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its stake in Turning Point Brands by 21.0% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 2,563 shares of the company’s stock worth $278,000 after acquiring an additional 445 shares during the last quarter. Veradace Capital Management LLC purchased a new stake in shares of Turning Point Brands during the 4th quarter worth approximately $6,792,000. Beacon Pointe Advisors LLC raised its holdings in shares of Turning Point Brands by 4.0% during the 4th quarter. Beacon Pointe Advisors LLC now owns 12,640 shares of the company’s stock worth $1,370,000 after acquiring an additional 485 shares in the last quarter. Finally, Pillsbury Lake Capital LLC bought a new position in shares of Turning Point Brands during the 4th quarter valued at approximately $17,370,000. 96.12% of the stock is currently owned by hedge funds and other institutional investors.

Turning Point Brands Trading Up 1.0%

Shares of Turning Point Brands stock opened at $85.38 on Wednesday. Turning Point Brands has a fifty-two week low of $51.48 and a fifty-two week high of $146.90. The company has a debt-to-equity ratio of 0.79, a quick ratio of 4.12 and a current ratio of 5.56. The company has a market capitalization of $1.65 billion, a P/E ratio of 27.28 and a beta of 0.85. The company has a fifty day moving average of $113.27 and a 200 day moving average of $104.55.

Turning Point Brands Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Friday, March 20th will be issued a $0.08 dividend. The ex-dividend date is Friday, March 20th. This represents a $0.32 dividend on an annualized basis and a yield of 0.4%. This is an increase from Turning Point Brands’s previous quarterly dividend of $0.08. Turning Point Brands’s payout ratio is presently 10.22%.

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.