Brokerages Set Turning Point Brands, Inc. (NYSE:TPB) Price Target at $116.67

Turning Point Brands, Inc. (NYSE:TPB) has received a consensus recommendation of “Hold” from the five ratings firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $116.6667.

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

Turning Point Brands Price Performance

Shares of TPB stock opened at $75.34 on Friday. The company has a market capitalization of $1.46 billion, a P/E ratio of 24.07 and a beta of 1.02. The company’s 50-day simple moving average is $96.10 and its two-hundred day simple moving average is $101.74. Turning Point Brands has a one year low of $58.04 and a one year high of $146.90. The company has a debt-to-equity ratio of 0.79, a current ratio of 5.56 and a quick ratio of 4.12.

Turning Point Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 10th. Investors of record on Friday, March 20th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.4%. This is a boost from Turning Point Brands’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Friday, March 20th. Turning Point Brands’s payout ratio is currently 10.22%.

Insider Transactions at Turning Point Brands

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 transaction, the chief financial officer directly owned 9,443 shares in the company, valued at $921,353.51. This represents a 17.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Turning Point Brands

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in Turning Point Brands by 4.4% during the fourth quarter. Vanguard Group Inc. now owns 1,451,394 shares of the company’s stock valued at $157,331,000 after buying an additional 61,311 shares during the period. Divisadero Street Capital Management LP lifted its holdings in Turning Point Brands by 3.2% during the third quarter. Divisadero Street Capital Management LP now owns 974,066 shares of the company’s stock worth $96,296,000 after buying an additional 30,282 shares during the period. ArrowMark Colorado Holdings LLC lifted its holdings in Turning Point Brands by 28.9% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 869,747 shares of the company’s stock worth $94,281,000 after buying an additional 194,938 shares during the period. Thrivent Financial for Lutherans boosted its position in Turning Point Brands by 4.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 847,050 shares of the company’s stock valued at $91,820,000 after acquiring an additional 38,437 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Turning Point Brands by 5.5% in the 4th quarter. Geode Capital Management LLC now owns 541,667 shares of the company’s stock valued at $58,728,000 after acquiring an additional 28,463 shares during the period. 96.12% of the stock is currently owned by institutional investors.

About Turning Point Brands

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.