Utz Brands, Inc. (NYSE:UTZ) COO Acquires $50,720.00 in Stock

Posted by on May 23rd, 2022

Utz Brands, Inc. (NYSE:UTZ – Get Rating) COO Cary Devore purchased 4,000 shares of the company’s stock in a transaction that occurred on Friday, May 20th. The stock was bought at an average cost of $12.68 per share, for a total transaction of $50,720.00. Following the purchase, the chief operating officer now directly owns 278,573 shares in the company, valued at approximately $3,532,305.64. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Cary Devore also recently made the following trade(s):

  • On Monday, March 7th, Cary Devore purchased 7,225 shares of Utz Brands stock. The stock was bought at an average cost of $13.83 per share, for a total transaction of $99,921.75.

Shares of NYSE UTZ traded up $0.13 during trading hours on Monday, hitting $12.89. The stock had a trading volume of 494,714 shares, compared to its average volume of 561,708. The company has a market capitalization of $1.78 billion, a P/E ratio of 44.00, a P/E/G ratio of 4.26 and a beta of 0.64. The firm’s 50-day moving average price is $14.38 and its two-hundred day moving average price is $15.39. Utz Brands, Inc. has a 52 week low of $12.06 and a 52 week high of $25.42. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.02 and a current ratio of 1.53.

Utz Brands (NYSE:UTZ – Get Rating) last announced its quarterly earnings results on Thursday, May 12th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.09 by $0.02. The business had revenue of $340.80 million during the quarter, compared to analysts’ expectations of $311.08 million. Utz Brands had a return on equity of 5.20% and a net margin of 2.04%. The firm’s quarterly revenue was up 26.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.13 EPS. As a group, analysts expect that Utz Brands, Inc. will post 0.5 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, April 28th. Investors of record on Monday, April 18th were issued a $0.054 dividend. The ex-dividend date was Thursday, April 14th. This represents a $0.22 annualized dividend and a yield of 1.68%. Utz Brands’s dividend payout ratio (DPR) is currently 75.86%.

A number of institutional investors and hedge funds have recently bought and sold shares of UTZ. Newton One Investments LLC acquired a new stake in Utz Brands in the 1st quarter worth approximately $30,000. Nisa Investment Advisors LLC acquired a new stake in Utz Brands in the 4th quarter worth approximately $31,000. Harbor Investment Advisory LLC lifted its holdings in shares of Utz Brands by 918.1% during the fourth quarter. Harbor Investment Advisory LLC now owns 2,749 shares of the company’s stock worth $44,000 after buying an additional 2,479 shares during the last quarter. Moors & Cabot Inc. acquired a new position in shares of Utz Brands during the third quarter worth approximately $51,000. Finally, KB Financial Partners LLC acquired a new position in shares of Utz Brands during the fourth quarter worth approximately $55,000. Hedge funds and other institutional investors own 44.28% of the company’s stock.

UTZ has been the topic of several research analyst reports. Oppenheimer cut Utz Brands from an “outperform” rating to a “market perform” rating in a research note on Tuesday, February 8th. Zacks Investment Research raised Utz Brands from a “sell” rating to a “hold” rating in a research note on Wednesday, May 18th. Finally, Credit Suisse Group cut Utz Brands from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $20.00 to $16.50 in a research note on Tuesday, April 12th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $19.17.

About Utz Brands (Get Rating)

Utz Brands, Inc operates as a snack food manufacturing company. It offers a range of salty snacks, including potato chips, kettle chips, tortilla chips, pretzels, cheese snacks, veggie snacks, pork skins, pub/party mixes, salsa and queso, ready-to-eat popcorn, and other snacks under the Utz, Zapp's, ON THE BORDER, Golden Flake, Good Health, Boulder Canyon, Hawaiian, TGIF, TORTIYAHS!, and other brand names.

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