Turning Point Brands, Inc.
In the published model solve dated 2026-Q2, anchored at $83.34, Turning Point Brands, Inc. (TPB) is priced for +8.7% growth. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed July 11, 2026 from SEC EDGAR filings.
• Turning Point Brands pairs two slow-and-steady franchises, Zig-Zag rolling papers and Stoker's smokeless products, with a nicotine-pouch business growing 133% year over year, and modern oral now accounts for 42% of net sales [Source: Q1 2026 earnings release, May 2026]. • The regulatory gate is the defining risk: the FRE and ALP pouch brands still sit in FDA substantive review under the premarket pathway, while the only fully authorized competitors are ZYN and on! PLUS, and the 10-K warns new
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232 institutional managers reported holding TPB in 13F filings for the quarter ended 2026-03-31. Together they hold about 94% of the company; the top 10 hold 42%. 30 opened new positions that quarter. Held by BlackRock, Vanguard Group, Geode Capital, among others. On the short side, 1.8M shares were sold short as of the 2026-06-15 count, about 9% of shares outstanding (3.9 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
TPB's share count grew 1.3% over the past five years even with $58.87M spent on repurchases. It pays a dividend, and has for 9 years running, raised 8 years straight; the current rate is $0.30 a share annually. Cash returned over the past three years: $14.38M in dividends and $5.05M in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at TPB over the trailing three years: 2024: 2 buys totaling $197k. 15 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
TPB's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-08-03 | +8.0% | -9.9% |
| 2023-11-09 | +2.8% | +15.5% |
| 2024-02-29 | +10.2% | +28.7% |
| 2024-05-03 | +12.1% | +1.0% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
TPB's latest 8-K filings: 2026-08-04 (items 2.02, 7.01, 9.01); 2026-05-07 (items 2.02, 9.01); 2026-05-05 (items 5.07); 2026-03-02 (items 2.02, 9.01); 2025-11-05 (items 8.01, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 11, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.