Turning Point Brands, Inc. (NYSE:TPB) Given Average Rating of "Hold" by Analysts

Key Points

• Analysts have a consensus rating of “Hold” on Turning Point Brands (1 sell, 1 hold, 3 buy) with an average 12‑month price target of $116.67.
• The company announced a quarterly dividend of $0.08 (annualized $0.32) with an ex‑dividend/record date of March 20 and payment on April 10, implying a yield of about 0.4%.
• CFO Andrew Flynn sold 2,000 shares at roughly $97.57 (a ~17.5% reduction in his holding); insiders own 6.6% of the stock while institutions own 96.12%.

Shares of Turning Point Brands, Inc. (NYSE:TPB - Get Free Report) have received a consensus rating of "Hold" from the five research firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $116.6667.

TPB has been the topic of several research reports. Wall Street Zen cut shares of Turning Point Brands from a "buy" rating to a "hold" rating in a research report on Saturday, January 17th. Oppenheimer reaffirmed 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 reiterated a "buy (b-)" rating on shares of Turning Point Brands in a research report on Tuesday, December 23rd. 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 Trading Down 0.4%

Shares of TPB stock opened at $86.88 on Wednesday. The stock's 50-day moving average price is $115.15 and its 200-day moving average price is $104.89. Turning Point Brands has a 12-month low of $51.48 and a 12-month high of $146.90. The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of 27.76 and a beta of 0.85. The company has a current ratio of 5.56, a quick ratio of 4.12 and a debt-to-equity ratio of 0.79.

Turning Point Brands Increases Dividend

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

Insiders Place Their Bets

In related news, CFO Andrew Flynn sold 2,000 shares of the stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $97.57, for a total transaction of $195,140.00. Following the sale, the chief financial officer owned 9,443 shares in the company, valued at approximately $921,353.51. This represents a 17.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 6.60% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. First Horizon Corp bought a new stake in shares of Turning Point Brands in the 3rd quarter worth about $25,000. Kemnay Advisory Services Inc. purchased a new position in shares of Turning Point Brands during the 4th quarter worth about $27,000. Empowered Funds LLC bought a new position in Turning Point Brands during the 4th quarter valued at about $27,000. Caitong International Asset Management Co. Ltd bought a new position in Turning Point Brands during the 3rd quarter valued at about $28,000. Finally, Advisory Services Network LLC purchased a new stake in Turning Point Brands in the 3rd quarter worth about $28,000. Institutional investors own 96.12% of the company's stock.

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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