Turning Point Brands (TPB) Declares $0.06 Dividend

Turning Point Brands said on May 3, 2023 that its board of directors declared a regular quarterly dividend of $0.06 per share ($0.26 annualized). Previously, the company paid $0.06 per share.

Shares must be purchased before the ex-div date of June 15, 2023 to qualify for the dividend. Shareholders of record as of June 16, 2023 will receive the payment on July 7, 2023.

At the current share price of $22.35 / share, the stock's dividend yield is 1.16%.

Looking back five years and taking a sample every week, the average dividend yield has been 0.67%, the lowest has been 0.33%, and the highest has been 1.30%. The standard deviation of yields is 0.25 (n=237).

The current dividend yield is 2.02 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.55. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.30%, demonstrating that it has increased its dividend over time.

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What is the Fund Sentiment?

There are 296 funds or institutions reporting positions in Turning Point Brands. This is an increase of 14 owner(s) or 4.96% in the last quarter. Average portfolio weight of all funds dedicated to TPB is 0.15%, a decrease of 31.94%. Total shares owned by institutions increased in the last three months by 2.44% to 19,034K shares. The put/call ratio of TPB is 2.44, indicating a bearish outlook.

Analyst Price Forecast Suggests 55.17% Upside

As of April 24, 2023, the average one-year price target for Turning Point Brands is 34.68. The forecasts range from a low of 22.22 to a high of $47.25. The average price target represents an increase of 55.17% from its latest reported closing price of 22.35.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Turning Point Brands is 430MM, an increase of 3.54%. The projected annual non-GAAP EPS is 2.72.

What are Other Shareholders Doing?

Thrivent Financial For Lutherans holds 1,674K shares representing 9.52% ownership of the company. In it's prior filing, the firm reported owning 1,634K shares, representing an increase of 2.36%. The firm decreased its portfolio allocation in TPB by 99.90% over the last quarter.

ArrowMark Colorado Holdings holds 1,157K shares representing 6.58% ownership of the company. In it's prior filing, the firm reported owning 990K shares, representing an increase of 14.37%. The firm increased its portfolio allocation in TPB by 15.80% over the last quarter.

UBS Group holds 876K shares representing 4.98% ownership of the company. In it's prior filing, the firm reported owning 670K shares, representing an increase of 23.49%. The firm increased its portfolio allocation in TPB by 13.41% over the last quarter.

Mangrove Partners holds 856K shares representing 4.87% ownership of the company. In it's prior filing, the firm reported owning 791K shares, representing an increase of 7.57%. The firm increased its portfolio allocation in TPB by 7.37% over the last quarter.

Jefferies Financial Group holds 706K shares representing 4.01% ownership of the company.

Turning Point Brands Background Information
(This description is provided by the company.)

Turning Point Brands (NYSE: TPB) is a manufacturer, marketer and distributor of branded consumer products with active ingredients through its iconic core brands Zig-Zag® and Stoker's®, and its emerging brands within the NewGen segment. TPB's products are available in more than 210,000 retail outlets in North America.

This story originally appeared on Fintel.