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

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

Separately, Barclays lifted their target price 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 Stock Performance

Vector Group stock opened at $14.94 on Friday. Vector Group has a one year low of $9.27 and a one year high of $15.53. The company has a 50-day simple moving average of $13.16 and a 200-day simple moving average of $11.57. The firm has a market capitalization of $2.35 billion, a P/E ratio of 12.88 and a beta of 1.04.

Vector Group (NYSE:VGR) last posted its earnings results on Wednesday, July 31st. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.30 by $0.04. The firm had revenue of $371.91 million during the quarter, compared to analysts’ expectations of $362.90 million. Vector Group had a net margin of 14.05% and a negative return on equity of 26.96%. As a group, sell-side analysts forecast that Vector Group will post 1.22 earnings per share for the current year.

Vector Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.20 per share. The ex-dividend date is Friday, August 30th. This represents a $0.80 annualized dividend and a yield of 5.35%. Vector Group’s payout ratio is 68.97%.

Institutional Investors Weigh In On Vector Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board acquired a new stake in Vector Group in the 2nd quarter valued at about $59,000. ORG Partners LLC lifted its stake in Vector Group by 252.3% during the second quarter. ORG Partners LLC now owns 6,039 shares of the company’s stock valued at $66,000 after purchasing an additional 4,325 shares during the last quarter. Quarry LP boosted its holdings in Vector Group by 112.6% during 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. Somerset Trust Co acquired a new position in Vector Group in the second quarter worth approximately $110,000. Finally, SpiderRock Advisors LLC bought a new position in shares of Vector Group in the first quarter valued at $112,000. Institutional investors own 64.09% of the company’s stock.

About Vector Group

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.