DAVENPORT & Co LLC Decreases Stake in Utz Brands, Inc. (NYSE:UTZ)

DAVENPORT & Co LLC cut its holdings in shares of Utz Brands, Inc. (NYSE:UTZFree Report) by 1.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 476,654 shares of the company’s stock after selling 7,836 shares during the quarter. DAVENPORT & Co LLC owned approximately 0.34% of Utz Brands worth $7,741,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. lifted its stake in shares of Utz Brands by 696.3% during the 1st quarter. Rockefeller Capital Management L.P. now owns 1,047,313 shares of the company’s stock valued at $17,248,000 after buying an additional 915,784 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Utz Brands by 14.3% in the second quarter. BlackRock Inc. now owns 4,868,901 shares of the company’s stock worth $79,655,000 after acquiring an additional 610,455 shares during the period. Gratus Capital LLC purchased a new position in shares of Utz Brands in the third quarter valued at $6,468,000. Renaissance Technologies LLC raised its stake in shares of Utz Brands by 597.5% during the 2nd quarter. Renaissance Technologies LLC now owns 549,300 shares of the company’s stock valued at $7,591,000 after purchasing an additional 470,551 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Utz Brands by 687.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 476,075 shares of the company’s stock worth $7,841,000 after purchasing an additional 415,606 shares in the last quarter. Institutional investors own 95.97% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on UTZ shares. Needham & Company LLC lifted their target price on Utz Brands from $20.00 to $20.50 and gave the company a “buy” rating in a report on Friday, March 1st. Truist Financial boosted their price objective on shares of Utz Brands from $13.00 to $17.00 and gave the company a “hold” rating in a research note on Monday, March 4th. Mizuho increased their target price on shares of Utz Brands from $19.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday. Royal Bank of Canada boosted their price target on shares of Utz Brands from $17.00 to $19.00 and gave the company an “outperform” rating in a research report on Monday, December 18th. Finally, Piper Sandler upped their price target on shares of Utz Brands from $18.00 to $21.00 and gave the stock an “overweight” rating in a report on Friday, March 1st. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Utz Brands presently has a consensus rating of “Moderate Buy” and an average price target of $18.63.

Get Our Latest Research Report on Utz Brands

Utz Brands Stock Down 4.6 %

Shares of NYSE:UTZ opened at $17.39 on Thursday. The firm has a market capitalization of $2.45 billion, a PE ratio of -56.08, a price-to-earnings-growth ratio of 1.68 and a beta of 0.97. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.97 and a current ratio of 1.42. Utz Brands, Inc. has a 52-week low of $11.17 and a 52-week high of $19.21. The firm has a fifty day moving average of $18.21 and a 200 day moving average of $15.45.

Utz Brands (NYSE:UTZGet Free Report) last posted its quarterly earnings data on Thursday, February 29th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). The firm had revenue of $352.10 million during the quarter, compared to analysts’ expectations of $354.63 million. Utz Brands had a positive return on equity of 6.08% and a negative net margin of 1.73%. Utz Brands’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.15 earnings per share. As a group, research analysts anticipate that Utz Brands, Inc. will post 0.67 EPS for the current fiscal year.

Utz Brands Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 2nd. Investors of record on Monday, April 15th will be issued a dividend of $0.059 per share. The ex-dividend date is Friday, April 12th. This represents a $0.24 annualized dividend and a dividend yield of 1.36%. This is a positive change from Utz Brands’s previous quarterly dividend of $0.06. Utz Brands’s dividend payout ratio (DPR) is currently -74.19%.

Insider Buying and Selling

In other Utz Brands news, major shareholder Series U. Of Um Partners, Llc sold 446,250 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $17.40, for a total transaction of $7,764,750.00. Following the completion of the sale, the insider now directly owns 397,885 shares in the company, valued at $6,923,199. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Utz Brands news, major shareholder Series U. Of Um Partners, Llc sold 446,250 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $17.40, for a total value of $7,764,750.00. Following the completion of the sale, the insider now owns 397,885 shares in the company, valued at $6,923,199. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Roger K. Deromedi sold 3,785 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $19.13, for a total transaction of $72,407.05. Following the completion of the transaction, the director now owns 3,399,470 shares in the company, valued at approximately $65,031,861.10. The disclosure for this sale can be found here. Insiders have sold a total of 609,181 shares of company stock worth $10,754,925 in the last 90 days. 17.00% of the stock is owned by company insiders.

About Utz Brands

(Free Report)

Utz Brands, Inc engages in manufacture, marketing, and distribution of snack foods. It offers a range of salty snacks, including salty snacks, including potato chips, tortilla chips, pretzels, cheese snacks, pork skins, veggie snacks, pub/party mixes, tortilla chips, salsa and dips, ready-to-eat popcorn, and other snacks under the Utz, Zapp's, ON THE BORDER, Golden Flake, Boulder Canyon, Hawaiian, TORTIYAHS!, etc.

Further Reading

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

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