UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Stake in Utz Brands, Inc. (NYSE:UTZ)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its position in Utz Brands, Inc. (NYSE:UTZ) by 10.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 137,460 shares of the company’s stock after selling 15,484 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Utz Brands were worth $2,433,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of UTZ. Fifth Third Bancorp bought a new stake in shares of Utz Brands during the second quarter valued at approximately $44,000. Canada Pension Plan Investment Board purchased a new stake in Utz Brands during the 2nd quarter valued at $80,000. SG Americas Securities LLC purchased a new stake in Utz Brands during the 2nd quarter valued at $103,000. nVerses Capital LLC bought a new stake in shares of Utz Brands in the 3rd quarter worth $142,000. Finally, XTX Topco Ltd purchased a new position in shares of Utz Brands in the second quarter worth $185,000. 95.97% of the stock is owned by hedge funds and other institutional investors.

Utz Brands Trading Up 2.8 %

Shares of NYSE:UTZ opened at $17.74 on Friday. The stock’s 50-day simple moving average is $17.06 and its two-hundred day simple moving average is $16.99. The stock has a market capitalization of $2.50 billion, a price-to-earnings ratio of -93.37, a PEG ratio of 1.18 and a beta of 1.01. Utz Brands, Inc. has a 52-week low of $14.17 and a 52-week high of $20.04. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.85 and a current ratio of 1.21.

Utz Brands (NYSE:UTZ) last announced its earnings results on Thursday, October 31st. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.01. Utz Brands had a negative net margin of 0.99% and a positive return on equity of 7.25%. The company had revenue of $365.50 million during the quarter, compared to analyst estimates of $363.98 million. During the same period in the previous year, the business posted $0.17 earnings per share. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. Analysts expect that Utz Brands, Inc. will post 0.74 EPS for the current year.

Utz Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th will be paid a $0.061 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.38%. This is a positive change from Utz Brands’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Monday, December 16th. Utz Brands’s dividend payout ratio is -126.32%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Mizuho dropped their price objective on Utz Brands from $24.00 to $21.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Piper Sandler raised their price target on shares of Utz Brands from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $21.22.

Insider Buying and Selling

In other Utz Brands news, insider Cc Collier Holdings, Llc sold 2,815,404 shares of Utz Brands stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $17.29, for a total transaction of $48,678,335.16. Following the transaction, the insider now owns 496,038 shares of the company’s stock, valued at $8,576,497.02. The trade was a 85.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Cary Devore sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $17.32, for a total transaction of $519,600.00. Following the completion of the transaction, the executive vice president now owns 451,117 shares of the company’s stock, valued at approximately $7,813,346.44. The trade was a 6.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.00% of the stock is owned by insiders.

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.