HighTower Advisors LLC Has $358,000 Position in Utz Brands, Inc. (NYSE:UTZ)

HighTower Advisors LLC trimmed its holdings in Utz Brands, Inc. (NYSE:UTZ) by 11.8% during the third quarter, Holdings Channel reports. The firm owned 20,237 shares of the company’s stock after selling 2,707 shares during the quarter. HighTower Advisors LLC’s holdings in Utz Brands were worth $358,000 at the end of the most recent quarter.

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

Utz Brands Trading Down 0.2 %

NYSE:UTZ opened at $15.84 on Monday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.21 and a quick ratio of 0.85. Utz Brands, Inc. has a one year low of $14.17 and a one year high of $20.04. The company has a market cap of $2.23 billion, a PE ratio of -83.37, a PEG ratio of 1.18 and a beta of 1.01. The firm has a 50-day moving average of $17.02 and a 200-day moving average of $16.92.

Utz Brands (NYSE:UTZ) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. Utz Brands had a positive return on equity of 7.25% and a negative net margin of 0.99%. The firm 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 company posted $0.17 EPS. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. As a group, equities research analysts expect that Utz Brands, Inc. will post 0.74 EPS for the current fiscal year.

Utz Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be paid a dividend of $0.061 per share. The ex-dividend date is Monday, December 16th. This is a boost from Utz Brands’s previous quarterly dividend of $0.06. This represents a $0.24 annualized dividend and a yield of 1.54%. Utz Brands’s dividend payout ratio (DPR) is -126.32%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on UTZ shares. Piper Sandler lifted their price target on shares of Utz Brands from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Mizuho reduced their target price on Utz Brands from $24.00 to $21.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Utz Brands has a consensus rating of “Moderate Buy” and a consensus price target of $21.22.

Insiders Place Their Bets

In other news, insider Cc Collier Holdings, Llc sold 2,815,404 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $17.29, for a total value of $48,678,335.16. Following the completion of the transaction, the insider now directly owns 496,038 shares of the company’s stock, valued at $8,576,497.02. This represents a 85.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Cary Devore sold 30,000 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $17.32, for a total value of $519,600.00. Following the sale, the executive vice president now directly owns 451,117 shares of the company’s stock, valued at $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. Insiders own 17.00% of the company’s stock.

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.