DAVENPORT & Co LLC Sells 7,836 Shares of Utz Brands, Inc. (NYSE:UTZ)

DAVENPORT & Co LLC lessened its position in Utz Brands, Inc. (NYSE:UTZFree Report) by 1.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 476,654 shares of the company’s stock after selling 7,836 shares during the quarter. DAVENPORT & Co LLC’s holdings in Utz Brands were worth $7,741,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. boosted its position in shares of Utz Brands by 696.3% during the first quarter. Rockefeller Capital Management L.P. now owns 1,047,313 shares of the company’s stock valued at $17,248,000 after buying an additional 915,784 shares during the period. BlackRock Inc. lifted its stake in shares of Utz Brands by 14.3% during the 2nd quarter. BlackRock Inc. now owns 4,868,901 shares of the company’s stock worth $79,655,000 after acquiring an additional 610,455 shares during the last quarter. Gratus Capital LLC purchased a new position in Utz Brands during the 3rd quarter valued at $6,468,000. Renaissance Technologies LLC grew its position in Utz Brands by 597.5% in the 2nd quarter. Renaissance Technologies LLC now owns 549,300 shares of the company’s stock valued at $7,591,000 after acquiring an additional 470,551 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Utz Brands by 687.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 476,075 shares of the company’s stock valued at $7,841,000 after acquiring an additional 415,606 shares during the last quarter. 95.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on UTZ shares. DA Davidson assumed coverage on shares of Utz Brands in a research note on Friday, March 1st. They set a “neutral” rating and a $20.00 target price for the company. Needham & Company LLC boosted their price objective on shares of Utz Brands from $20.00 to $20.50 and gave the company a “buy” rating in a research report on Friday, March 1st. Mizuho raised their target price on shares of Utz Brands from $19.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday. Piper Sandler lifted their price target on shares of Utz Brands from $18.00 to $21.00 and gave the company an “overweight” rating in a research note on Friday, March 1st. Finally, Truist Financial increased their price objective on Utz Brands from $13.00 to $17.00 and gave the stock a “hold” rating in a research note on Monday, March 4th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $18.63.

Read Our Latest Stock Analysis on Utz Brands

Insider Buying and Selling

In other Utz Brands news, major shareholder Series U. Of Um Partners, Llc sold 446,250 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $17.40, for a total value of $7,764,750.00. Following the completion of the sale, the insider now directly owns 397,885 shares in the company, valued at $6,923,199. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Roger K. Deromedi sold 13,446 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $19.03, for a total transaction of $255,877.38. Following the sale, the director now owns 3,548,704 shares in the company, valued at $67,531,837.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Series U. Of Um Partners, Llc sold 446,250 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $17.40, for a total transaction of $7,764,750.00. Following the completion of the transaction, the insider now directly owns 397,885 shares of the company’s stock, valued at $6,923,199. The disclosure for this sale can be found here. Insiders sold a total of 609,181 shares of company stock worth $10,754,925 in the last 90 days. 17.00% of the stock is owned by corporate insiders.

Utz Brands Stock Down 4.6 %

Utz Brands stock opened at $17.39 on Thursday. The company has a quick ratio of 0.97, a current ratio of 1.42 and a debt-to-equity ratio of 0.65. The firm has a market cap of $2.45 billion, a P/E ratio of -56.08, a P/E/G ratio of 1.68 and a beta of 0.97. The business has a fifty day moving average of $18.21 and a two-hundred day moving average of $15.45. Utz Brands, Inc. has a twelve month low of $11.17 and a twelve month high of $19.21.

Utz Brands (NYSE:UTZGet Free Report) last issued its quarterly earnings data on Thursday, February 29th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). Utz Brands had a positive return on equity of 6.08% and a negative net margin of 1.73%. The company had revenue of $352.10 million for the quarter, compared to analysts’ expectations of $354.63 million. During the same quarter last year, the company earned $0.15 earnings per share. The company’s revenue for the quarter was down .7% compared to the same quarter last year. On average, analysts forecast that Utz Brands, Inc. will post 0.67 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, May 2nd. Stockholders of record on Monday, April 15th will be issued a $0.059 dividend. This is a boost from Utz Brands’s previous quarterly dividend of $0.06. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend is Friday, April 12th. Utz Brands’s dividend payout ratio (DPR) is currently -74.19%.

About Utz Brands

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Utz Brands (NYSE:UTZ)

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