Y Intercept Hong Kong Ltd Has $1.74 Million Stock Position in Turning Point Brands, Inc. $TPB

Key Points

• Y Intercept Hong Kong Ltd cut its stake in Turning Point Brands by 36.5% in the first quarter, leaving it with 20,008 shares valued at about $1.74 million.
• Turning Point Brands recently beat earnings and revenue expectations, reporting $0.76 EPS on $124.28 million in revenue, while analysts now have a consensus rating of Hold with a $118.75 price target.
• The company also announced a quarterly dividend of $0.08 per share, payable July 10, and insider filings showed CAO Brian Wigginton sold 4,000 shares in May.

Y Intercept Hong Kong Ltd reduced its stake in Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 36.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,008 shares of the company's stock after selling 11,488 shares during the period. Y Intercept Hong Kong Ltd owned 0.10% of Turning Point Brands worth $1,736,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in TPB. Apis Capital Advisors LLC boosted its holdings in 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 buying an additional 106,948 shares during the last quarter. Copeland Capital Management LLC grew its position in shares of 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 worth $22,134,000 after buying an additional 203,505 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Turning Point Brands by 73.3% in 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. Bronte Capital Management Pty Ltd. bought a new stake in shares of Turning Point Brands in the 4th quarter valued at about $2,642,000. Finally, Crown Advisors Management Inc. raised its position in shares of Turning Point Brands by 60.0% in the 3rd quarter. Crown Advisors Management Inc. now owns 40,000 shares of the company's stock valued at $3,954,000 after acquiring an additional 15,000 shares during the period. 96.12% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Weiss Ratings lowered shares of Turning Point Brands from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, June 2nd. Wall Street Zen raised shares of Turning Point Brands from a "strong sell" rating to a "sell" rating in a research note on Saturday, June 6th. Finally, Needham & Company LLC upgraded shares of 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. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Turning Point Brands currently has a consensus rating of "Hold" and a consensus price target of $118.75.

Insider Buying and Selling

In other Turning Point Brands news, CAO Brian Wigginton sold 4,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $91.67, for a total transaction of $366,680.00. Following the sale, the chief accounting officer directly owned 9,230 shares in the company, valued at approximately $846,114.10. This trade represents a 30.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 5.40% of the company's stock.

Turning Point Brands Stock Down 0.2%

NYSE:TPB opened at $87.90 on Friday. Turning Point Brands, Inc. has a 1 year low of $65.80 and a 1 year high of $146.90. The stock has a 50-day moving average price of $85.72 and a two-hundred day moving average price of $97.52. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 29.90 and a beta of 0.92. The company has a current ratio of 5.87, a quick ratio of 4.05 and a debt-to-equity ratio of 0.76.

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

Turning Point Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 19th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Thursday, June 18th. Turning Point Brands's dividend payout ratio is presently 10.88%.

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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