State of New Jersey Common Pension Fund D Acquires 9,988 Shares of Utz Brands, Inc. (NYSE:UTZ)

State of New Jersey Common Pension Fund D lifted its holdings in Utz Brands, Inc. (NYSE:UTZ) by 8.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 126,532 shares of the company’s stock after buying an additional 9,988 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.09% of Utz Brands worth $1,981,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in UTZ. Smith Group Asset Management LLC raised its holdings in shares of Utz Brands by 24.2% in the third quarter. Smith Group Asset Management LLC now owns 27,093 shares of the company’s stock valued at $480,000 after buying an additional 5,278 shares during the last quarter. GSA Capital Partners LLP raised its holdings in shares of Utz Brands by 100.0% in the third quarter. GSA Capital Partners LLP now owns 165,896 shares of the company’s stock valued at $2,936,000 after buying an additional 82,935 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Utz Brands by 19.0% in the third quarter. Victory Capital Management Inc. now owns 1,474,047 shares of the company’s stock valued at $26,091,000 after buying an additional 235,622 shares during the last quarter. King Luther Capital Management Corp raised its holdings in shares of Utz Brands by 42.7% in the third quarter. King Luther Capital Management Corp now owns 243,146 shares of the company’s stock valued at $4,304,000 after buying an additional 72,756 shares during the last quarter. Finally, Intech Investment Management LLC bought a new position in shares of Utz Brands in the third quarter valued at about $301,000. 95.97% of the stock is owned by institutional investors.

Utz Brands Price Performance

Utz Brands stock opened at $14.14 on Monday. The firm has a market capitalization of $1.99 billion, a P/E ratio of 78.53, a PEG ratio of 0.86 and a beta of 1.01. Utz Brands, Inc. has a 1 year low of $12.71 and a 1 year high of $20.04. The business has a 50-day moving average of $14.35 and a 200-day moving average of $16.19. The company has a current ratio of 1.21, a quick ratio of 0.85 and a debt-to-equity ratio of 0.56.

Utz Brands (NYSE:UTZ) last posted its earnings results on Thursday, February 20th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.03. The company had revenue of $341.05 million during the quarter, compared to analyst estimates of $349.93 million. Utz Brands had a return on equity of 7.92% and a net margin of 1.13%. During the same period in the previous year, the company earned $0.16 EPS. On average, equities analysts anticipate that Utz Brands, Inc. will post 0.85 EPS for the current year.

Utz Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 16th were given a $0.061 dividend. The ex-dividend date was Monday, December 16th. This is a positive change from Utz Brands’s previous quarterly dividend of $0.06. This represents a $0.24 annualized dividend and a dividend yield of 1.73%. Utz Brands’s payout ratio is currently 133.33%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. TD Cowen dropped their price objective on Utz Brands from $21.00 to $17.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Barclays dropped their price objective on Utz Brands from $19.00 to $17.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Mizuho dropped their price objective on Utz Brands from $21.00 to $19.00 and set an “outperform” rating for the company in a report on Monday, February 10th. Finally, Piper Sandler dropped their price objective on Utz Brands from $24.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.00.

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.