Utz Brands, Inc. (NYSE:UTZ) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC increased its stake in shares of Utz Brands, Inc. (NYSE:UTZ) by 3.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,548,231 shares of the company’s stock after purchasing an additional 47,320 shares during the period. Geode Capital Management LLC’s holdings in Utz Brands were worth $27,409,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Creative Planning raised its position in Utz Brands by 8.2% during the 2nd quarter. Creative Planning now owns 37,155 shares of the company’s stock worth $618,000 after buying an additional 2,802 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Utz Brands by 3.6% during the second quarter. Rhumbline Advisers now owns 99,286 shares of the company’s stock worth $1,652,000 after acquiring an additional 3,466 shares during the period. Truist Financial Corp raised its holdings in Utz Brands by 20.8% during the second quarter. Truist Financial Corp now owns 24,209 shares of the company’s stock worth $403,000 after purchasing an additional 4,176 shares in the last quarter. Legacy Wealth Asset Management LLC raised its holdings in Utz Brands by 11.6% during the third quarter. Legacy Wealth Asset Management LLC now owns 40,176 shares of the company’s stock worth $711,000 after purchasing an additional 4,182 shares in the last quarter. Finally, First Eagle Investment Management LLC lifted its position in Utz Brands by 1.0% in the second quarter. First Eagle Investment Management LLC now owns 441,396 shares of the company’s stock valued at $7,345,000 after purchasing an additional 4,550 shares during the period. 95.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Utz Brands

In other Utz Brands news, insider Cc Collier Holdings, Llc sold 2,815,404 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $17.29, for a total value 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. This represents a 85.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Cary Devore sold 30,000 shares of Utz Brands 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 of the company’s stock, valued at approximately $7,813,346.44. This trade represents 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.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Piper Sandler boosted their target price on Utz Brands from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Mizuho decreased their price target on Utz Brands from $24.00 to $21.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Utz Brands has a consensus rating of “Moderate Buy” and an average price target of $21.22.

Utz Brands Stock Performance

NYSE UTZ opened at $15.70 on Friday. The business has a 50 day moving average price of $16.86 and a 200 day moving average price of $16.85. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.21 and a quick ratio of 0.85. The company has a market capitalization of $2.21 billion, a P/E ratio of -82.63, a PEG ratio of 1.18 and a beta of 1.01. Utz Brands, Inc. has a 1-year low of $14.17 and a 1-year high of $20.04.

Utz Brands (NYSE:UTZ) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.21 earnings per share for the quarter, beating 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 business had revenue of $365.50 million during the quarter, compared to analysts’ expectations of $363.98 million. During the same quarter last year, the business posted $0.17 earnings per share. The business’s revenue for the quarter was down 1.7% on a year-over-year basis. Sell-side analysts expect that Utz Brands, Inc. will post 0.74 EPS for the current fiscal year.

Utz Brands Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be given a dividend of $0.061 per share. The ex-dividend date is Monday, December 16th. This represents a $0.24 dividend on an annualized basis and a yield of 1.55%. This is a boost from Utz Brands’s previous quarterly dividend of $0.06. 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.