Vector Group (NYSE:VGR) Coverage Initiated at StockNews.com

StockNews.com began coverage on shares of Vector Group (NYSE:VGR) in a research report report published on Saturday. The brokerage issued a buy rating on the stock.

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

Vector Group Trading Up 0.2 %

VGR stock opened at $15.01 on Friday. The stock has a 50-day moving average price of $12.73 and a 200-day moving average price of $11.44. Vector Group has a 1-year low of $9.27 and a 1-year high of $15.53. The firm has a market cap of $2.36 billion, a PE ratio of 12.94 and a beta of 1.03.

Vector Group (NYSE:VGR) last issued its 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. Vector Group had a negative return on equity of 26.96% and a net margin of 14.05%. The business had revenue of $371.91 million during the quarter, compared to analyst estimates of $362.90 million. On average, analysts forecast that Vector Group will post 1.22 earnings per share for the current year.

Vector Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Friday, August 30th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.33%. Vector Group’s payout ratio is presently 68.97%.

Hedge Funds Weigh In On Vector Group

Several institutional investors have recently bought and sold shares of the company. Truist Financial Corp bought a new position in shares of Vector Group in the second quarter worth $193,000. Point72 Asset Management L.P. bought a new position in Vector Group in the second quarter worth about $693,000. Quarry LP raised its stake in Vector Group by 112.6% in the second quarter. Quarry LP now owns 9,648 shares of the company’s stock worth $102,000 after buying an additional 5,110 shares in the last quarter. Algert Global LLC increased its stake in shares of Vector Group by 72.9% during the second quarter. Algert Global LLC now owns 691,014 shares of the company’s stock valued at $7,304,000 after purchasing an additional 291,404 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Vector Group during the second quarter valued at approximately $260,000. Hedge funds and other institutional investors own 64.09% of the company’s stock.

Vector Group Company Profile

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.