Turning Point Brands, Inc. $TPB Shares Purchased by Maverick Capital Ltd.

Maverick Capital Ltd. lifted its position in Turning Point Brands, Inc. (NYSE:TPB) by 79.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 38,832 shares of the company’s stock after purchasing an additional 17,157 shares during the quarter. Maverick Capital Ltd.’s holdings in Turning Point Brands were worth $3,370,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Apis Capital Advisors LLC raised its stake 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 purchasing an additional 106,948 shares during the period. Copeland Capital Management LLC grew its stake in shares of Turning Point Brands by 29,795.8% in the 4th quarter. Copeland Capital Management LLC now owns 204,188 shares of the company’s stock valued at $22,134,000 after buying an additional 203,505 shares during the period. JPMorgan Chase & Co. grew 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 buying an additional 21,131 shares during the period. Bronte Capital Management Pty Ltd. acquired a new stake in shares of Turning Point Brands during the 4th quarter worth approximately $2,642,000. Finally, M&T Bank Corp increased its holdings in shares of Turning Point Brands by 712.5% during the 4th quarter. M&T Bank Corp now owns 19,499 shares of the company’s stock worth $2,114,000 after buying an additional 17,099 shares during the last quarter. 96.12% of the stock is currently owned by institutional investors and hedge funds.

Turning Point Brands Stock Performance

NYSE:TPB opened at $78.67 on Tuesday. Turning Point Brands, Inc. has a fifty-two week low of $65.80 and a fifty-two 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 company has a 50 day moving average price of $83.94 and a 200 day moving average price of $95.22. The stock has a market capitalization of $1.52 billion, a P/E ratio of 26.76 and a beta of 0.92.

Turning Point Brands (NYSE:TPB) last announced its earnings results on Thursday, May 7th. The company reported $0.76 earnings per share (EPS) for the quarter, beating 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 in the previous year, the company earned $0.91 earnings per share. The firm’s quarterly revenue was up 16.8% compared to the same quarter last year. Equities research analysts forecast that Turning Point Brands, Inc. will post 1.39 EPS for the current year.

Turning Point Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Friday, June 19th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Thursday, June 18th. Turning Point Brands’s payout ratio is currently 10.88%.

Wall Street Analyst Weigh In

A number of research firms recently commented on TPB. Weiss Ratings cut Turning Point Brands from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 2nd. Compass Point set a $103.00 target price on Turning Point Brands in a research note on Tuesday, July 21st. Wall Street Zen upgraded Turning Point Brands from a “strong sell” rating to a “sell” rating in a research report on Saturday. BTIG Research assumed coverage on Turning Point Brands in a research note on Tuesday, July 21st. They issued a “buy” rating and a $103.00 price target on the stock. Finally, Needham & Company LLC upgraded Turning Point Brands from a “hold” rating to a “buy” rating and set a $125.00 price target for the company in a report on Friday, May 8th. One equities research 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 assigned a Sell rating to the company’s stock. According to MarketBeat, Turning Point Brands presently has an average rating of “Moderate Buy” and a consensus target price of $113.50.

Insider Transactions at Turning Point Brands

In related news, CAO Brian Wigginton sold 4,000 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $91.67, for a total transaction of $366,680.00. Following the transaction, the chief accounting officer owned 9,230 shares of the company’s stock, valued at approximately $846,114.10. This represents a 30.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.40% of the company’s stock.

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.