Principal Financial Group Inc. Makes New Investment in Utz Brands, Inc. (NYSE:UTZ)

Principal Financial Group Inc. purchased a new stake in shares of Utz Brands, Inc. (NYSE:UTZ) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 54,939 shares of the company’s stock, valued at approximately $914,000.

Several other institutional investors have also modified their holdings of the company. Fifth Third Bancorp acquired a new stake in Utz Brands in the 2nd quarter valued at approximately $44,000. Delta Asset Management LLC TN increased its holdings in shares of Utz Brands by 100.0% during the fourth quarter. Delta Asset Management LLC TN now owns 5,000 shares of the company’s stock valued at $81,000 after purchasing an additional 2,500 shares during the period. SG Americas Securities LLC bought a new stake in shares of Utz Brands during the second quarter valued at about $103,000. Parallel Advisors LLC lifted its holdings in Utz Brands by 11.6% in the fourth quarter. Parallel Advisors LLC now owns 9,924 shares of the company’s stock worth $161,000 after purchasing an additional 1,033 shares during the period. Finally, Waterloo Capital L.P. bought a new position in Utz Brands in the 4th quarter valued at about $169,000. Institutional investors own 95.97% of the company’s stock.

Insiders Place Their Bets

In other Utz Brands news, Director Bruce John Lindeman purchased 4,000 shares of the stock in a transaction dated Monday, August 5th. The shares were acquired at an average price of $16.11 per share, for a total transaction of $64,440.00. Following the completion of the acquisition, the director now owns 42,480 shares of the company’s stock, valued at approximately $684,352.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 17.00% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Needham & Company LLC restated a “buy” rating and set a $22.00 price target on shares of Utz Brands in a research report on Friday, August 2nd. Piper Sandler reissued an “overweight” rating and set a $22.00 target price on shares of Utz Brands in a report on Wednesday, August 21st. Finally, Barclays decreased their price target on Utz Brands from $23.00 to $19.00 and set an “overweight” rating for the company in a research note on Friday, July 19th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.36.

Utz Brands Stock Performance

UTZ opened at $17.75 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.69 and a debt-to-equity ratio of 0.57. The firm has a market cap of $2.50 billion, a PE ratio of -71.00, a P/E/G ratio of 1.18 and a beta of 1.01. The business has a fifty day simple moving average of $16.37 and a 200-day simple moving average of $17.39. Utz Brands, Inc. has a fifty-two week low of $11.17 and a fifty-two week high of $20.04.

Utz Brands (NYSE:UTZ) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. Utz Brands had a return on equity of 6.79% and a net margin of 0.29%. The business had revenue of $356.20 million during the quarter, compared to analyst estimates of $356.23 million. During the same quarter last year, the company posted $0.13 EPS. Utz Brands’s revenue for the quarter was down 1.8% on a year-over-year basis. As a group, equities analysts predict that Utz Brands, Inc. will post 0.74 EPS for the current fiscal year.

Utz Brands Dividend Announcement

The company also recently disclosed a None dividend, which will be paid on Thursday, October 3rd. Investors of record on Monday, September 16th will be paid a $0.011 dividend. This represents a yield of 1.3%. The ex-dividend date is Monday, September 16th. Utz Brands’s dividend payout ratio is -92.00%.

Utz Brands Company Profile

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.