DAVENPORT & Co LLC Sells 156,386 Shares of Utz Brands, Inc. (NYSE:UTZ)

DAVENPORT & Co LLC lowered its stake in shares of Utz Brands, Inc. (NYSE:UTZ - Free Report) by 34.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 294,864 shares of the company's stock after selling 156,386 shares during the quarter. DAVENPORT & Co LLC owned about 0.21% of Utz Brands worth $4,617,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Creative Planning grew its holdings in Utz Brands by 8.2% in the second quarter. Creative Planning now owns 37,155 shares of the company's stock worth $618,000 after purchasing an additional 2,802 shares during the period. Truist Financial Corp boosted its holdings in Utz Brands by 20.8% in the second quarter. Truist Financial Corp now owns 24,209 shares of the company's stock worth $403,000 after acquiring an additional 4,176 shares in the last quarter. Legacy Wealth Asset Management LLC grew its stake in shares of Utz Brands by 11.6% in the third quarter. Legacy Wealth Asset Management LLC now owns 40,176 shares of the company's stock worth $711,000 after acquiring an additional 4,182 shares during the last quarter. Smith Group Asset Management LLC raised its position in shares of Utz Brands by 24.2% in the 3rd quarter. Smith Group Asset Management LLC now owns 27,093 shares of the company's stock worth $480,000 after purchasing an additional 5,278 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake in Utz Brands by 31.6% in the 4th quarter. SG Americas Securities LLC now owns 30,929 shares of the company's stock worth $484,000 after purchasing an additional 7,419 shares in the last quarter. Hedge funds and other institutional investors own 95.97% of the company's stock.

Utz Brands Price Performance

Shares of Utz Brands stock traded down $0.18 during trading on Friday, reaching $13.35. 583,832 shares of the stock traded hands, compared to its average volume of 1,199,465. The business has a fifty day simple moving average of $15.15 and a two-hundred day simple moving average of $16.31. Utz Brands, Inc. has a 52-week low of $12.71 and a 52-week high of $20.04. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of -70.28, a P/E/G ratio of 0.85 and a beta of 1.01. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.21 and a quick ratio of 0.85.

Utz Brands Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th were given a dividend of $0.061 per share. This is an increase 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 1.83%. The ex-dividend date was Monday, December 16th. Utz Brands's dividend payout ratio is currently -126.32%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on UTZ shares. Piper Sandler dropped their target price on shares of Utz Brands from $24.00 to $20.00 and set an "overweight" rating on the stock in a research note on Thursday, January 16th. Mizuho decreased their target price on shares of Utz Brands from $24.00 to $21.00 and set an "outperform" rating for the company in a research note on Monday, November 4th. Barclays dropped their price target on Utz Brands from $19.00 to $17.00 and set an "overweight" rating on the stock in a research note on Friday, January 17th. Finally, TD Cowen dropped their target price on Utz Brands from $21.00 to $17.00 and set a "buy" rating on the stock in a research report on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $20.20.

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.