Bank of New York Mellon Corp Grows Holdings in Utz Brands, Inc. (NYSE:UTZ)

Bank of New York Mellon Corp raised its position in shares of Utz Brands, Inc. (NYSE:UTZ) by 2.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 446,918 shares of the company’s stock after purchasing an additional 11,492 shares during the quarter. Bank of New York Mellon Corp owned 0.32% of Utz Brands worth $7,437,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted its position in shares of Utz Brands by 20.9% in the fourth quarter. Russell Investments Group Ltd. now owns 59,263 shares of the company’s stock valued at $962,000 after acquiring an additional 10,236 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Utz Brands by 52.4% in the 4th quarter. Victory Capital Management Inc. now owns 31,886 shares of the company’s stock worth $518,000 after purchasing an additional 10,968 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in 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 purchasing an additional 12,232 shares during the period. Dimensional Fund Advisors LP grew its holdings in Utz Brands by 26.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,212,493 shares of the company’s stock valued at $19,691,000 after buying an additional 250,557 shares in the last quarter. Finally, First Eagle Investment Management LLC raised its position in shares of Utz Brands by 11.5% during the fourth quarter. First Eagle Investment Management LLC now owns 455,946 shares of the company’s stock valued at $7,405,000 after buying an additional 46,919 shares during the last quarter. Hedge funds and other institutional investors own 95.97% of the company’s stock.

Analysts Set New Price Targets

UTZ has been the subject of a number of research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $22.00 target price on shares of Utz Brands in a research note on Friday, August 2nd. Piper Sandler reaffirmed an “overweight” rating and issued a $22.00 target price on shares of Utz Brands in a report on Wednesday, August 21st. Finally, Barclays dropped their price target on Utz Brands from $23.00 to $19.00 and set an “overweight” rating for the company in a research note on Friday, July 19th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Utz Brands presently has an average rating of “Moderate Buy” and a consensus target price of $20.17.

Utz Brands Stock Performance

NYSE:UTZ opened at $17.29 on Thursday. The firm has a market capitalization of $2.43 billion, a PE ratio of -69.16, a PEG ratio of 1.22 and a beta of 1.01. The stock’s fifty day moving average is $16.32 and its 200 day moving average is $17.40. Utz Brands, Inc. has a fifty-two week low of $11.17 and a fifty-two week high of $20.04. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.21 and a current ratio of 1.69.

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

Utz Brands Dividend Announcement

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

Insider Transactions at Utz Brands

In other Utz Brands news, Director Bruce John Lindeman bought 4,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was acquired at an average cost of $16.11 per share, for a total transaction of $64,440.00. Following the completion of the transaction, the director now owns 42,480 shares in the company, valued at $684,352.80. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 17.00% of the company’s stock.

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.