Turning Point Brands, Inc. $TPB Shares Purchased by Riposte Capital LLC

Key Points

• Riposte Capital increased its Turning Point Brands stake by 50% in the first quarter, purchasing 50,000 additional shares for a total of 150,000 shares valued at approximately $13.0 million. Institutional investors and hedge funds collectively own 96.12% of the company.
• Analyst sentiment is generally positive, with a consensus rating of “Moderate Buy” and an average price target of $113.50. Recent coverage includes buy ratings and price targets of $103 and $125.
• Turning Point Brands beat quarterly earnings and revenue expectations, reporting EPS of $0.76 and revenue of $124.28 million, while declaring a quarterly dividend of $0.08 per share, equivalent to a 0.4% yield.

Riposte Capital LLC boosted its holdings in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 50.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 150,000 shares of the company's stock after purchasing an additional 50,000 shares during the period. Turning Point Brands comprises 3.3% of Riposte Capital LLC's portfolio, making the stock its 7th biggest holding. Riposte Capital LLC owned about 0.77% of Turning Point Brands worth $13,018,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Turning Point Brands by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,198 shares of the company's stock worth $606,000 after buying an additional 459 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Turning Point Brands by 1,428.7% during the second quarter. Russell Investments Group Ltd. now owns 4,586 shares of the company's stock valued at $347,000 after acquiring an additional 4,286 shares during the period. First Trust Advisors LP boosted its stake in shares of Turning Point Brands by 150.8% in the 2nd quarter. First Trust Advisors LP now owns 141,995 shares of the company's stock valued at $10,759,000 after purchasing an additional 85,378 shares in the last quarter. Baird Financial Group Inc. bought a new stake in shares of Turning Point Brands in the 2nd quarter worth about $220,000. Finally, Qube Research & Technologies Ltd grew its holdings in shares of Turning Point Brands by 21.3% in the 2nd quarter. Qube Research & Technologies Ltd now owns 182,812 shares of the company's stock worth $13,852,000 after purchasing an additional 32,109 shares during the last quarter. 96.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. BTIG Research started coverage on shares of Turning Point Brands in a report on Tuesday, July 21st. They set a "buy" rating and a $103.00 price target for the company. Weiss Ratings cut shares of Turning Point Brands from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, June 2nd. Needham & Company LLC raised Turning Point Brands from a "hold" rating to a "buy" rating and set a $125.00 target price on the stock in a report on Friday, May 8th. Compass Point set a $103.00 price target on Turning Point Brands in a report on Tuesday, July 21st. Finally, Wall Street Zen raised Turning Point Brands from a "strong sell" rating to a "sell" rating in a research note on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $113.50.

Turning Point Brands Stock Up 2.9%

NYSE TPB opened at $80.93 on Wednesday. The stock has a market capitalization of $1.57 billion, a P/E ratio of 27.53 and a beta of 0.92. Turning Point Brands, Inc. has a 52 week low of $65.80 and a 52 week high of $146.90. The company has a debt-to-equity ratio of 0.76, a quick ratio of 4.05 and a current ratio of 5.87. The stock has a fifty day moving average of $83.77 and a 200-day moving average of $95.06.

Turning Point Brands (NYSE:TPB - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.08. The business had revenue of $124.28 million for the quarter, compared to analysts' expectations of $115.67 million. Turning Point Brands had a return on equity of 16.54% and a net margin of 11.53%.The firm's quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.91 earnings per share. On average, equities research analysts forecast that Turning Point Brands, Inc. will post 1.39 EPS for the current year.

Turning Point Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 18th will be paid 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 of this dividend is Friday, September 18th. Turning Point Brands's payout ratio is 10.88%.

Insider Buying and Selling at Turning Point Brands

In related news, CAO Brian Wigginton sold 4,000 shares of the stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $91.67, for a total value of $366,680.00. Following the transaction, the chief accounting officer directly owned 9,230 shares in the company, valued at $846,114.10. This represents a 30.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 5.40% of the stock is currently owned by company insiders.

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.

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