Kestra Advisory Services LLC Invests $1.07 Million in Turning Point Brands, Inc. $TPB

Kestra Advisory Services LLC purchased a new stake in Turning Point Brands, Inc. (NYSE:TPB) during the 1st quarter, HoldingsChannel reports. The fund purchased 12,329 shares of the company’s stock, valued at approximately $1,070,000.

A number of other institutional investors also recently modified their holdings of TPB. Kemnay Advisory Services Inc. bought a new position in Turning Point Brands in the 4th quarter worth approximately $27,000. Empowered Funds LLC bought a new stake in Turning Point Brands during the 4th quarter valued at $27,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Turning Point Brands during the third quarter worth $28,000. Advisory Services Network LLC purchased a new stake in shares of Turning Point Brands during the third quarter worth $28,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Turning Point Brands by 33.4% in the fourth quarter. GAMMA Investing LLC now owns 491 shares of the company’s stock worth $53,000 after acquiring an additional 123 shares during the period. 96.12% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Turning Point Brands

In other news, CAO Brian Wigginton sold 4,000 shares of Turning Point Brands stock in a transaction 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 completion of the sale, the chief accounting officer directly owned 9,230 shares of the company’s stock, valued at approximately $846,114.10. The trade was a 30.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 5.40% of the company’s stock.

Turning Point Brands Price Performance

Shares of NYSE TPB opened at $72.86 on Friday. The firm has a market capitalization of $1.41 billion, a P/E ratio of 24.78 and a beta of 0.92. The company has a quick ratio of 4.05, a current ratio of 5.87 and a debt-to-equity ratio of 0.76. The stock’s 50-day simple moving average is $84.41 and its two-hundred day simple moving average is $95.62. Turning Point Brands, Inc. has a twelve month low of $65.80 and a twelve month high of $146.90.

Turning Point Brands (NYSE:TPB) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.68 by $0.08. The company had revenue of $124.28 million during the quarter, compared to analyst estimates of $115.67 million. Turning Point Brands had a return on equity of 16.54% and a net margin of 11.53%.Turning Point Brands’s revenue was up 16.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.91 earnings per share. As a group, equities analysts anticipate that Turning Point Brands, Inc. will post 1.39 EPS for the current fiscal year.

Turning Point Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Friday, June 19th were given a dividend of $0.08 per share. The ex-dividend date was Thursday, June 18th. This represents a $0.32 annualized dividend and a dividend yield of 0.4%. Turning Point Brands’s dividend payout ratio (DPR) is 10.88%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TPB. Compass Point set a $103.00 price target on Turning Point Brands in a research report on Tuesday. BTIG Research started coverage on Turning Point Brands in a research note on Tuesday. They issued a “buy” rating and a $103.00 target price for the company. Wall Street Zen raised Turning Point Brands from a “strong sell” rating to a “sell” rating in a report on Saturday, June 6th. Weiss Ratings lowered Turning Point Brands from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 2nd. Finally, Needham & Company LLC raised shares of Turning Point Brands from a “hold” rating to a “buy” rating and set a $125.00 price target on the stock in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, three have assigned 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, Turning Point Brands presently has a consensus rating of “Moderate Buy” and an average price target of $113.50.

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.