StockNews.com Begins Coverage on Vector Group (NYSE:VGR)

by · The Markets Daily

StockNews.com assumed coverage on shares of Vector Group (NYSE:VGR – Free Report) in a research report sent to investors on Tuesday. The brokerage issued a buy rating on the stock.

Separately, Barclays upped their price target on Vector Group from $15.00 to $16.00 and gave the company an overweight rating in a research report on Wednesday, August 14th.

Get Our Latest Research Report on Vector Group

Vector Group Trading Down 0.1 %

NYSE VGR opened at $14.91 on Tuesday. Vector Group has a 1-year low of $9.27 and a 1-year high of $15.53. The stock has a 50-day moving average of $14.09 and a 200-day moving average of $11.88. The firm has a market cap of $2.35 billion, a PE ratio of 12.85 and a beta of 1.04.

Vector Group (NYSE:VGR – Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.04. The business had revenue of $371.91 million during the quarter, compared to analyst estimates of $362.90 million. Vector Group had a negative return on equity of 26.96% and a net margin of 14.05%. As a group, equities research analysts forecast that Vector Group will post 1.22 earnings per share for the current fiscal year.

Vector Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Friday, August 30th were issued a dividend of $0.20 per share. The ex-dividend date was Friday, August 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.37%. Vector Group’s dividend payout ratio (DPR) is 68.97%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in VGR. Canada Pension Plan Investment Board purchased a new position in shares of Vector Group during the 2nd quarter worth approximately $59,000. ORG Partners LLC grew its holdings in shares of Vector Group by 252.3% during the 2nd quarter. ORG Partners LLC now owns 6,039 shares of the company’s stock worth $66,000 after acquiring an additional 4,325 shares during the period. Quarry LP grew its holdings in shares of Vector Group by 112.6% during the 2nd quarter. Quarry LP now owns 9,648 shares of the company’s stock worth $102,000 after acquiring an additional 5,110 shares during the period. Somerset Trust Co purchased a new stake in shares of Vector Group in the 2nd quarter worth approximately $110,000. Finally, SpiderRock Advisors LLC purchased a new stake in shares of Vector Group in the 1st quarter worth approximately $112,000. Hedge funds and other institutional investors own 64.09% of the company’s stock.

Vector Group Company Profile

(Get Free Report)

Vector Group Ltd., through its subsidiaries, engages in the manufacture and sale of cigarettes in the United States. It operates in two segments, Tobacco and Real Estate. The company produces cigarettes under the Montego, EAGLE 20’s, Pyramid, Grand Prix, Liggett Select, Eve, and USA brand names, as well as various partner and private label brands.

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