Charles Schwab Investment Management Inc. Buys 28,484 Shares of Utz Brands, Inc. (NYSE:UTZ)

Charles Schwab Investment Management Inc. grew its stake in shares of Utz Brands, Inc. (NYSE:UTZ) by 5.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 571,161 shares of the company’s stock after acquiring an additional 28,484 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Utz Brands were worth $10,110,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Comerica Bank grew its holdings in shares of Utz Brands by 5.4% during the first quarter. Comerica Bank now owns 16,491 shares of the company’s stock valued at $304,000 after buying an additional 848 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Utz Brands during the second quarter valued at $103,000. Diversified Trust Co boosted its position in shares of Utz Brands by 4.5% during the second quarter. Diversified Trust Co now owns 44,870 shares of the company’s stock valued at $747,000 after buying an additional 1,925 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in Utz Brands by 11.6% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 11,838 shares of the company’s stock worth $197,000 after buying an additional 1,228 shares in the last quarter. Finally, Fifth Third Bancorp purchased a new position in Utz Brands in the 2nd quarter worth about $44,000. 95.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Piper Sandler boosted their target price 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 price objective on Utz Brands from $24.00 to $21.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $21.22.

Insider Buying and Selling at Utz Brands

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

Utz Brands Price Performance

UTZ stock opened at $17.30 on Tuesday. Utz Brands, Inc. has a 52 week low of $13.45 and a 52 week high of $20.04. The firm has a market capitalization of $2.44 billion, a P/E ratio of -91.05, a price-to-earnings-growth ratio of 1.16 and a beta of 1.01. The company has a fifty day simple moving average of $17.07 and a two-hundred day simple moving average of $17.00. The company has a quick ratio of 0.85, a current ratio of 1.21 and a debt-to-equity ratio of 0.56.

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

Utz Brands Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 16th will be issued a $0.061 dividend. This is a positive change from Utz Brands’s previous quarterly dividend of $0.06. The ex-dividend date is Monday, December 16th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.41%. Utz Brands’s payout ratio is presently -126.32%.

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.