Diversified Trust Co Boosts Position in Utz Brands, Inc. (NYSE:UTZ)

Diversified Trust Co increased its stake in Utz Brands, Inc. (NYSE:UTZ) by 25.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,308 shares of the company’s stock after buying an additional 11,438 shares during the period. Diversified Trust Co’s holdings in Utz Brands were worth $882,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. State Street Corp increased its stake in Utz Brands by 9.5% in the 3rd quarter. State Street Corp now owns 1,758,961 shares of the company’s stock worth $31,256,000 after buying an additional 152,868 shares during the period. Vestcor Inc increased its stake in Utz Brands by 11.4% in the 3rd quarter. Vestcor Inc now owns 296,100 shares of the company’s stock worth $5,241,000 after buying an additional 30,400 shares during the period. Geode Capital Management LLC increased its stake in Utz Brands by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,548,231 shares of the company’s stock worth $27,409,000 after buying an additional 47,320 shares during the period. Principal Financial Group Inc. purchased a new position in Utz Brands in the 2nd quarter worth about $914,000. Finally, Kimelman & Baird LLC purchased a new position in Utz Brands in the 2nd quarter worth about $907,000. Hedge funds and other institutional investors own 95.97% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on UTZ shares. TD Cowen cut their target price on shares of Utz Brands from $21.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday. Piper Sandler raised their target price on shares of Utz Brands from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Finally, Mizuho cut their target price on shares of Utz Brands from $24.00 to $21.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $20.80.

Utz Brands Stock Down 2.3 %

Shares of Utz Brands stock opened at $14.16 on Friday. The firm’s 50 day moving average price is $16.51 and its 200-day moving average price is $16.66. 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, Inc. has a 52-week low of $13.46 and a 52-week high of $20.04. The company has a market cap of $1.99 billion, a P/E ratio of -74.53, a PEG ratio of 1.18 and a beta of 1.03.

Utz Brands (NYSE:UTZ) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. Utz Brands had a negative net margin of 0.99% and a positive return on equity of 7.25%. The firm had revenue of $365.50 million for the quarter, compared to the consensus estimate of $363.98 million. During the same quarter in the previous year, the firm earned $0.17 EPS. The company’s quarterly revenue was down 1.7% compared to the same quarter last year. On average, sell-side analysts predict that Utz Brands, Inc. will post 0.74 EPS for the current fiscal year.

Utz Brands Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th were given a dividend of $0.061 per share. This represents a $0.24 annualized dividend and a yield of 1.72%. The ex-dividend date was Monday, December 16th. This is an increase from Utz Brands’s previous quarterly dividend of $0.06. Utz Brands’s payout ratio is currently -126.32%.

Insiders Place Their Bets

In other Utz Brands news, insider Cc Collier Holdings, Llc sold 2,815,404 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 496,038 shares of the company’s stock, valued at approximately $8,576,497.02. The trade was a 85.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Cary Devore sold 30,000 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $17.32, for a total transaction of $519,600.00. Following the completion of the sale, the executive vice president now directly owns 451,117 shares in the company, valued at $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. 17.00% of the stock is owned by insiders.

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.