49,500 Shares in Turning Point Brands, Inc. $TPB Acquired by Marathon Partners Equity Management LLC

Marathon Partners Equity Management LLC bought a new position in shares of Turning Point Brands, Inc. (NYSE:TPB) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 49,500 shares of the company’s stock, valued at approximately $4,198,000. Turning Point Brands accounts for approximately 3.9% of Marathon Partners Equity Management LLC’s holdings, making the stock its 7th largest position. Marathon Partners Equity Management LLC owned approximately 0.26% of Turning Point Brands as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Apis Capital Advisors LLC raised its holdings in shares of Turning Point Brands by 186.2% during the fourth quarter. Apis Capital Advisors LLC now owns 164,377 shares of the company’s stock worth $17,818,000 after acquiring an additional 106,948 shares during the period. SWP Investment Management LLC acquired a new position in Turning Point Brands in the 2nd quarter worth $2,174,000. Norris Financial Group LLC bought a new position in Turning Point Brands during the 1st quarter worth about $4,151,000. Bronte Capital Management Pty Ltd. bought a new position in Turning Point Brands during the 4th quarter worth about $2,642,000. Finally, M&T Bank Corp increased its holdings in Turning Point Brands by 712.5% during the 4th quarter. M&T Bank Corp now owns 19,499 shares of the company’s stock worth $2,114,000 after purchasing an additional 17,099 shares in the last quarter. 96.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Wall Street Zen upgraded Turning Point Brands from a “strong sell” rating to a “sell” rating in a report on Monday, August 10th. Needham & Company LLC upgraded 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 reiterated a “buy” rating on shares of Turning Point Brands in a report on Monday, August 10th. Compass Point set a $116.00 target price on Turning Point Brands in a research report on Monday, August 10th. Finally, Weiss Ratings cut Turning Point Brands from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.67.

Turning Point Brands Stock Down 0.1%

Turning Point Brands stock opened at $83.33 on Tuesday. The company has a market cap of $1.61 billion, a P/E ratio of 35.76 and a beta of 0.92. Turning Point Brands, Inc. has a 1-year low of $65.80 and a 1-year high of $146.90. The company has a fifty day simple moving average of $83.09 and a 200 day simple moving average of $90.55. The company has a current ratio of 5.67, a quick ratio of 4.16 and a debt-to-equity ratio of 0.65.

Turning Point Brands (NYSE:TPB) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.11. Turning Point Brands had a net margin of 8.78% and a return on equity of 11.35%. The firm had revenue of $142.96 million for the quarter, compared to analyst estimates of $129.56 million. During the same period in the previous year, the business earned $0.98 EPS. The company’s revenue was up 22.6% compared to the same quarter last year. Research analysts anticipate that Turning Point Brands, Inc. will post 1.23 earnings per share for the current fiscal year.

Turning Point Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 18th will be given a $0.08 dividend. The ex-dividend date of this dividend is Friday, September 18th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.4%. Turning Point Brands’s payout ratio is currently 13.73%.

Turning Point Brands 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.