JPMorgan Chase & Co. Grows Holdings in Utz Brands, Inc. (NYSE:UTZ)

JPMorgan Chase & Co. grew its stake in Utz Brands, Inc. (NYSE:UTZGet Rating) by 3.3% during the second quarter, Holdings Channel.com reports. The fund owned 5,649,406 shares of the company’s stock after acquiring an additional 180,904 shares during the period. JPMorgan Chase & Co.’s holdings in Utz Brands were worth $78,074,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. First Eagle Investment Management LLC raised its stake in shares of Utz Brands by 140.8% in the 1st quarter. First Eagle Investment Management LLC now owns 107,159 shares of the company’s stock valued at $1,584,000 after acquiring an additional 62,659 shares during the period. Swiss National Bank raised its stake in shares of Utz Brands by 8.7% in the 1st quarter. Swiss National Bank now owns 146,700 shares of the company’s stock valued at $2,168,000 after acquiring an additional 11,800 shares during the period. Carnegie Capital Asset Management LLC purchased a new stake in shares of Utz Brands in the 2nd quarter valued at approximately $216,000. Bahl & Gaynor Inc. raised its stake in shares of Utz Brands by 20.0% in the 1st quarter. Bahl & Gaynor Inc. now owns 187,414 shares of the company’s stock valued at $2,770,000 after acquiring an additional 31,288 shares during the period. Finally, Highlander Partners L.P. purchased a new stake in shares of Utz Brands in the 2nd quarter valued at approximately $7,580,000. 45.14% of the stock is owned by hedge funds and other institutional investors.

Utz Brands Price Performance

Shares of UTZ opened at $18.05 on Thursday. The company has a quick ratio of 1.16, a current ratio of 1.68 and a debt-to-equity ratio of 0.62. Utz Brands, Inc. has a fifty-two week low of $12.06 and a fifty-two week high of $19.98. The company has a market cap of $2.53 billion, a P/E ratio of -62.24, a PEG ratio of 9.16 and a beta of 0.73. The firm’s 50 day moving average price is $15.86 and its 200 day moving average price is $15.36.

Utz Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 6th. Shareholders of record on Monday, September 19th were issued a dividend of $0.054 per share. This represents a $0.22 annualized dividend and a yield of 1.20%. The ex-dividend date was Friday, September 16th. Utz Brands’s dividend payout ratio (DPR) is presently -75.86%.

Insiders Place Their Bets

In other Utz Brands news, EVP Chad Whyte sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $18.22, for a total transaction of $72,880.00. Following the completion of the transaction, the executive vice president now owns 4,319 shares in the company, valued at approximately $78,692.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 17.26% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group reduced their price target on shares of Utz Brands from $21.00 to $18.00 and set a “neutral” rating on the stock in a research note on Monday, October 10th. Credit Suisse Group upped their target price on shares of Utz Brands to $19.00 in a research note on Monday, August 15th. Finally, Stephens upped their target price on shares of Utz Brands from $16.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Friday, August 12th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $18.75.

About Utz Brands

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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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Institutional Ownership by Quarter for Utz Brands (NYSE:UTZ)

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