Marathon Partners Equity Management LLC Takes $4.20 Million Position in Turning Point Brands, Inc. $TPB

Marathon Partners Equity Management LLC bought a new stake in Turning Point Brands, Inc. (NYSE:TPB) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 49,500 shares of the company’s stock, valued at approximately $4,198,000. Turning Point Brands makes up 3.9% of Marathon Partners Equity Management LLC’s holdings, making the stock its 7th biggest position.

Several other hedge funds and other institutional investors have also made changes to their positions in TPB. Kemnay Advisory Services Inc. acquired a new position in Turning Point Brands during the fourth quarter worth $27,000. Empowered Funds LLC acquired a new stake in Turning Point Brands in the fourth quarter valued at $27,000. Caitong International Asset Management Co. Ltd acquired a new stake in Turning Point Brands in the third quarter valued at $28,000. Advisory Services Network LLC bought a new position in shares of Turning Point Brands in the 3rd quarter valued at about $28,000. Finally, Covestor Ltd grew its position in shares of Turning Point Brands by 16.3% in the 4th quarter. Covestor Ltd now owns 663 shares of the company’s stock valued at $72,000 after acquiring an additional 93 shares during the period. 96.12% of the stock is owned by institutional investors.

Turning Point Brands Trading Down 0.1%

TPB stock opened at $83.33 on Tuesday. Turning Point Brands, Inc. has a one year low of $65.80 and a one year high of $146.90. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of 35.76 and a beta of 0.92. The company has a fifty day moving average price of $83.09 and a two-hundred day moving average price of $90.55. The company has a debt-to-equity ratio of 0.65, a current ratio of 5.67 and a quick ratio of 4.16.

Turning Point Brands (NYSE:TPB) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.11. The company had revenue of $142.96 million for the quarter, compared to analyst estimates of $129.56 million. Turning Point Brands had a net margin of 8.78% and a return on equity of 11.35%. The company’s revenue was up 22.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.98 earnings per share. Equities analysts anticipate that Turning Point Brands, Inc. will post 1.23 EPS for the current year.

Turning Point Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 18th will be paid a $0.08 dividend. The ex-dividend date is Friday, September 18th. This represents a $0.32 dividend on an annualized basis and a yield of 0.4%. Turning Point Brands’s dividend payout ratio is 13.73%.

Analyst Ratings Changes

TPB has been the topic of several recent analyst reports. Weiss Ratings lowered shares of Turning Point Brands from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd. BTIG Research reiterated a “buy” rating on shares of Turning Point Brands in a research note on Monday, August 10th. Wall Street Zen upgraded Turning Point Brands from a “strong sell” rating to a “sell” rating in a report on Monday, August 10th. Needham & Company LLC raised Turning Point Brands from a “hold” rating to a “buy” rating and set a $125.00 price target on the stock in a research report on Friday, May 8th. Finally, Compass Point set a $116.00 price objective on Turning Point Brands in a research note on Monday, August 10th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.67.

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.