Fmr LLC Sells 1,787 Shares of Utz Brands, Inc. (NYSE:UTZ)

Fmr LLC decreased its holdings in shares of Utz Brands, Inc. (NYSE:UTZ) by 22.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 6,343 shares of the company’s stock after selling 1,787 shares during the period. Fmr LLC’s holdings in Utz Brands were worth $112,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Picton Mahoney Asset Management bought a new stake in shares of Utz Brands during the 2nd quarter valued at about $5,422,000. Victory Capital Management Inc. lifted its position in Utz Brands by 19.0% during the third quarter. Victory Capital Management Inc. now owns 1,474,047 shares of the company’s stock valued at $26,091,000 after purchasing an additional 235,622 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in Utz Brands during the second quarter valued at approximately $1,981,000. GSA Capital Partners LLP grew its stake in Utz Brands by 100.0% in the 3rd quarter. GSA Capital Partners LLP now owns 165,896 shares of the company’s stock worth $2,936,000 after buying an additional 82,935 shares in the last quarter. Finally, Bahl & Gaynor Inc. increased its holdings in shares of Utz Brands by 45.1% in the 2nd quarter. Bahl & Gaynor Inc. now owns 239,961 shares of the company’s stock worth $3,993,000 after buying an additional 74,633 shares during the last quarter. 95.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on UTZ shares. Piper Sandler lifted their price objective 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 target 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 assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $21.22.

Utz Brands Price Performance

Shares of NYSE:UTZ opened at $15.84 on Monday. The company has a quick ratio of 0.85, a current ratio of 1.21 and a debt-to-equity ratio of 0.56. The stock 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 company’s fifty day moving average is $17.02 and its 200 day moving average is $16.92. Utz Brands, Inc. has a 52 week low of $14.17 and a 52 week high of $20.04.

Utz Brands (NYSE:UTZ) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.20 by $0.01. The firm had revenue of $365.50 million for 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%. The company’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.17 earnings per share. Research analysts anticipate that Utz Brands, Inc. will post 0.74 earnings per share for the current 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 given a $0.061 dividend. The ex-dividend date is Monday, December 16th. This represents a $0.24 annualized dividend and a yield of 1.54%. This is an increase from Utz Brands’s previous quarterly dividend of $0.06. Utz Brands’s payout ratio is presently -126.32%.

Insider Activity

In other 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 directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Cc Collier Holdings, Llc sold 2,815,404 shares of the business’s stock in a transaction 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 directly owns 496,038 shares in the company, valued at approximately $8,576,497.02. The trade was a 85.02 % 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.

About Utz Brands

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.