Stifel Financial Corp Acquires 11,641 Shares of Utz Brands, Inc. (NYSE:UTZ)

Stifel Financial Corp lifted its stake in Utz Brands, Inc. (NYSE:UTZ) by 6.3% during the 3rd quarter, Holdings Channel reports. The firm owned 196,251 shares of the company’s stock after acquiring an additional 11,641 shares during the period. Stifel Financial Corp’s holdings in Utz Brands were worth $3,474,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Envestnet Portfolio Solutions Inc. lifted its stake in Utz Brands by 11.6% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 11,838 shares of the company’s stock valued at $197,000 after buying an additional 1,228 shares during the period. Fifth Third Bancorp acquired a new stake in shares of Utz Brands in the 2nd quarter valued at approximately $44,000. Creative Planning raised its position in shares of Utz Brands by 8.2% in the 2nd quarter. Creative Planning now owns 37,155 shares of the company’s stock valued at $618,000 after acquiring an additional 2,802 shares during the period. Rhumbline Advisers boosted its stake in Utz Brands by 3.6% during the 2nd quarter. Rhumbline Advisers now owns 99,286 shares of the company’s stock worth $1,652,000 after acquiring an additional 3,466 shares during the last quarter. Finally, Truist Financial Corp grew its holdings in Utz Brands by 20.8% during the second quarter. Truist Financial Corp now owns 24,209 shares of the company’s stock valued at $403,000 after purchasing an additional 4,176 shares during the period. 95.97% of the stock is owned by institutional investors and hedge funds.

Utz Brands Price Performance

Shares of NYSE UTZ opened at $17.42 on Tuesday. The company has a fifty day moving average price of $17.07 and a 200 day moving average price of $16.97. Utz Brands, Inc. has a 1-year low of $14.17 and a 1-year high of $20.04. The firm has a market cap of $2.45 billion, a PE ratio of -91.68, a PEG ratio of 1.18 and a beta of 1.01. The company has a current ratio of 1.21, a quick ratio of 0.85 and a debt-to-equity ratio of 0.56.

Utz Brands (NYSE:UTZ) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. The business had revenue of $365.50 million during the quarter, compared to the consensus estimate of $363.98 million. Utz Brands had a positive return on equity of 7.25% and a negative net margin of 0.99%. Utz Brands’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period last year, the company earned $0.17 earnings per share. Research analysts predict that Utz Brands, Inc. will post 0.74 earnings per share for the current fiscal year.

Utz Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th will be given a $0.061 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend is Monday, December 16th. This is a positive change from Utz Brands’s previous quarterly dividend of $0.06. Utz Brands’s payout ratio is currently -126.32%.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on UTZ. Piper Sandler increased their target price on shares of Utz Brands from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. 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 note on Monday, November 4th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $21.22.

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.