Vector Group (NYSE:VGR) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of Vector Group (NYSE:VGR) in a research note released on Thursday morning. The brokerage issued a strong-buy rating on the stock.

Separately, Barclays upped their price target on shares of Vector Group from $15.00 to $16.00 and gave the stock an overweight rating in a research report on Wednesday, August 14th.

Vector Group Stock Performance

Vector Group stock opened at $14.99 on Thursday. The company has a 50-day simple moving average of $14.61 and a 200-day simple moving average of $12.20. The firm has a market capitalization of $2.36 billion, a P/E ratio of 12.92 and a beta of 1.04. Vector Group has a one year low of $9.27 and a one year high of $15.53.

Vector Group (NYSE:VGR) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.30 by $0.04. The business had revenue of $371.91 million during the quarter, compared to analyst estimates of $362.90 million. Vector Group had a net margin of 14.05% and a negative return on equity of 26.96%. As a group, sell-side analysts forecast that Vector Group will post 1.22 earnings per share for the current year.

Vector Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Friday, August 30th were given a $0.20 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.80 dividend on an annualized basis and a yield of 5.34%. Vector Group’s dividend payout ratio is presently 68.97%.

Hedge Funds Weigh In On Vector Group

A number of institutional investors and hedge funds have recently bought and sold shares of VGR. Canada Pension Plan Investment Board bought a new position in Vector Group in the 2nd quarter valued at about $59,000. ORG Partners LLC grew its position in Vector Group by 252.3% in the 2nd quarter. ORG Partners LLC now owns 6,039 shares of the company’s stock valued at $66,000 after buying an additional 4,325 shares in the last quarter. Quarry LP grew its position in Vector Group by 112.6% in the 2nd quarter. Quarry LP now owns 9,648 shares of the company’s stock valued at $102,000 after buying an additional 5,110 shares in the last quarter. Somerset Trust Co bought a new position in Vector Group in the 2nd quarter valued at about $110,000. Finally, SpiderRock Advisors LLC acquired a new stake in Vector Group in the 1st quarter valued at about $112,000. Institutional investors own 64.09% of the company’s stock.

Vector Group Company Profile

Vector Group Ltd., through its subsidiaries, engages in the manufacture and sale of cigarettes in the United States. It operates in two segments, Tobacco and Real Estate. The company produces cigarettes under the Montego, EAGLE 20’s, Pyramid, Grand Prix, Liggett Select, Eve, and USA brand names, as well as various partner and private label brands.