Kimelman & Baird LLC Makes New $907,000 Investment in Utz Brands, Inc. (NYSE:UTZ)

Kimelman & Baird LLC purchased a new stake in Utz Brands, Inc. (NYSE:UTZ) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 54,484 shares of the company’s stock, valued at approximately $907,000.

Other hedge funds also recently made changes to their positions in the company. Fifth Third Bancorp acquired a new stake in Utz Brands in the second quarter valued at approximately $44,000. Canada Pension Plan Investment Board acquired a new position in Utz Brands in the 2nd quarter worth about $80,000. SG Americas Securities LLC bought a new position in Utz Brands in the second quarter valued at about $103,000. Parallel Advisors LLC boosted its stake in shares of Utz Brands by 11.6% during the fourth quarter. Parallel Advisors LLC now owns 9,924 shares of the company’s stock valued at $161,000 after purchasing an additional 1,033 shares in the last quarter. Finally, Waterloo Capital L.P. bought a new stake in shares of Utz Brands during the fourth quarter worth about $169,000. 95.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Utz Brands Stock Up 2.3 %

Shares of NYSE:UTZ opened at $17.89 on Monday. The company has a market capitalization of $2.52 billion, a PE ratio of -71.56, a price-to-earnings-growth ratio of 1.18 and a beta of 1.01. Utz Brands, Inc. has a 1 year low of $11.17 and a 1 year high of $20.04. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.69 and a quick ratio of 1.21. The business has a fifty day moving average price of $16.82 and a two-hundred day moving average price of $17.38.

Utz Brands (NYSE:UTZ) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. Utz Brands had a net margin of 0.29% and a return on equity of 6.79%. The business had revenue of $356.20 million during the quarter, compared to the consensus estimate of $356.23 million. During the same quarter last year, the company posted $0.13 earnings per share. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. Analysts forecast that Utz Brands, Inc. will post 0.74 earnings per share for the current year.

Utz Brands Announces Dividend

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

Insider Activity

In related news, Director Bruce John Lindeman acquired 4,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average price of $16.11 per share, with a total value of $64,440.00. Following the acquisition, the director now owns 42,480 shares of the company’s stock, valued at approximately $684,352.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 17.00% of the stock is owned by company insiders.

Utz Brands 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.