Bank of New York Mellon Corp Acquires 11,492 Shares of Utz Brands, Inc. (NYSE:UTZ)

Bank of New York Mellon Corp lifted its holdings in Utz Brands, Inc. (NYSE:UTZ) by 2.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 446,918 shares of the company’s stock after acquiring an additional 11,492 shares during the quarter. Bank of New York Mellon Corp’s holdings in Utz Brands were worth $7,437,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of UTZ. Russell Investments Group Ltd. raised its stake in Utz Brands by 20.9% in the fourth quarter. Russell Investments Group Ltd. now owns 59,263 shares of the company’s stock worth $962,000 after buying an additional 10,236 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Utz Brands by 52.4% in the 4th quarter. Victory Capital Management Inc. now owns 31,886 shares of the company’s stock valued at $518,000 after acquiring an additional 10,968 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Utz Brands by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 545,867 shares of the company’s stock worth $8,865,000 after acquiring an additional 12,232 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Utz Brands by 26.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,212,493 shares of the company’s stock worth $19,691,000 after purchasing an additional 250,557 shares during the last quarter. Finally, First Eagle Investment Management LLC lifted its stake in shares of Utz Brands by 11.5% during the 4th quarter. First Eagle Investment Management LLC now owns 455,946 shares of the company’s stock worth $7,405,000 after purchasing an additional 46,919 shares during the last quarter. 95.97% of the stock is currently owned by institutional investors.

Utz Brands Trading Down 2.4 %

NYSE UTZ opened at $17.29 on Thursday. Utz Brands, Inc. has a 12-month low of $11.17 and a 12-month high of $20.04. The company has a fifty day simple moving average of $16.32 and a two-hundred day simple moving average of $17.40. The company has a current ratio of 1.69, a quick ratio of 1.21 and a debt-to-equity ratio of 0.57. The stock has a market cap of $2.43 billion, a P/E ratio of -69.16, a P/E/G ratio of 1.22 and a beta of 1.01.

Utz Brands (NYSE:UTZ) last released its earnings results on Thursday, August 1st. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.03. Utz Brands had a return on equity of 6.79% and a net margin of 0.29%. The firm had revenue of $356.20 million for the quarter, compared to the consensus estimate of $356.23 million. During the same period in the prior year, the firm earned $0.13 EPS. The firm’s revenue was down 1.8% on a year-over-year basis. On average, analysts forecast that Utz Brands, Inc. will post 0.73 earnings per share for the current year.

Utz Brands Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Needham & Company LLC reiterated a “buy” rating and issued a $22.00 target price on shares of Utz Brands in a research note on Friday, August 2nd. Barclays cut their price objective on shares of Utz Brands from $23.00 to $19.00 and set an “overweight” rating on the stock in a research report on Friday, July 19th. Finally, Piper Sandler reissued an “overweight” rating and set a $22.00 target price on shares of Utz Brands in a research report on Wednesday, August 21st. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $20.17.

Insider Activity at Utz Brands

In other Utz Brands news, Director Bruce John Lindeman acquired 4,000 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were purchased at an average price of $16.11 per share, for a total transaction of $64,440.00. Following the completion of the purchase, the director now directly owns 42,480 shares of the company’s stock, valued at $684,352.80. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 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.