Kestra Advisory Services LLC Purchases Shares of 12,329 Turning Point Brands, Inc. $TPB

Kestra Advisory Services LLC acquired a new position in shares of Turning Point Brands, Inc. (NYSE:TPB) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 12,329 shares of the company’s stock, valued at approximately $1,070,000. Kestra Advisory Services LLC owned approximately 0.06% of Turning Point Brands as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of TPB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Turning Point Brands by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,198 shares of the company’s stock valued at $606,000 after buying an additional 459 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Turning Point Brands by 1,428.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 4,586 shares of the company’s stock valued at $347,000 after acquiring an additional 4,286 shares in the last quarter. First Trust Advisors LP boosted its holdings in Turning Point Brands by 150.8% during the 2nd quarter. First Trust Advisors LP now owns 141,995 shares of the company’s stock worth $10,759,000 after acquiring an additional 85,378 shares during the last quarter. Baird Financial Group Inc. purchased a new position in Turning Point Brands during the 2nd quarter worth $220,000. Finally, Qube Research & Technologies Ltd grew its stake in shares of Turning Point Brands by 21.3% in the 2nd quarter. Qube Research & Technologies Ltd now owns 182,812 shares of the company’s stock worth $13,852,000 after acquiring an additional 32,109 shares in the last quarter. 96.12% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Turning Point Brands news, CAO Brian Wigginton sold 4,000 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $91.67, for a total transaction of $366,680.00. Following the completion of the transaction, the chief accounting officer directly owned 9,230 shares of the company’s stock, valued at approximately $846,114.10. This represents a 30.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.40% of the company’s stock.

Analyst Ratings Changes

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

Turning Point Brands Stock Performance

NYSE TPB opened at $72.86 on Friday. The company has a market capitalization of $1.41 billion, a PE ratio of 24.78 and a beta of 0.92. The company has a debt-to-equity ratio of 0.76, a quick ratio of 4.05 and a current ratio of 5.87. Turning Point Brands, Inc. has a 52-week low of $65.80 and a 52-week high of $146.90. The company has a 50-day simple moving average of $84.41 and a 200 day simple moving average of $95.62.

Turning Point Brands (NYSE:TPB) last released its earnings results on Thursday, May 7th. The company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.08. Turning Point Brands had a net margin of 11.53% and a return on equity of 16.54%. The firm had revenue of $124.28 million for the quarter, compared to analysts’ expectations of $115.67 million. During the same period in the previous year, the company earned $0.91 earnings per share. The company’s quarterly revenue was up 16.8% on a year-over-year basis. On average, research analysts predict 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 paid a $0.08 dividend. The ex-dividend date was Thursday, June 18th. This represents a $0.32 annualized dividend and a yield of 0.4%. Turning Point Brands’s dividend payout ratio is presently 10.88%.

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.