DF Dent & Co. Inc. Cuts Stock Position in Utz Brands, Inc. (NYSE:UTZ)

DF Dent & Co. Inc. lessened its holdings in shares of Utz Brands, Inc. (NYSE:UTZ - Free Report) by 4.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,159,031 shares of the company's stock after selling 58,298 shares during the quarter. DF Dent & Co. Inc. owned approximately 0.82% of Utz Brands worth $18,150,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp grew its holdings in Utz Brands by 9.5% during the third quarter. State Street Corp now owns 1,758,961 shares of the company's stock valued at $31,256,000 after purchasing 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 in the last quarter. Geode Capital Management LLC raised its holdings in Utz Brands by 3.2% during the third quarter. Geode Capital Management LLC now owns 1,548,231 shares of the company's stock valued at $27,409,000 after acquiring an additional 47,320 shares during the period. Barclays PLC boosted its stake in shares of Utz Brands by 21.4% in the third quarter. Barclays PLC now owns 555,477 shares of the company's stock worth $9,831,000 after acquiring an additional 97,767 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in Utz Brands by 2.5% in the 4th quarter. Victory Capital Management Inc. now owns 1,510,472 shares of the company's stock worth $23,654,000 after purchasing an additional 36,425 shares during the period. 95.97% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. TD Cowen lowered their target price on shares of Utz Brands from $21.00 to $17.00 and set a "buy" rating on the stock in a report on Wednesday, January 8th. Piper Sandler cut their price objective on Utz Brands from $24.00 to $20.00 and set an "overweight" rating for the company in a research report on Thursday, January 16th. Royal Bank of Canada dropped their price target on Utz Brands from $23.00 to $20.00 and set an "outperform" rating for the company in a research note on Monday, February 24th. Barclays reduced their price target on shares of Utz Brands from $19.00 to $17.00 and set an "overweight" rating on the stock in a research report on Friday, January 17th. Finally, Mizuho lowered their price target on shares of Utz Brands from $21.00 to $19.00 and set an "outperform" rating for the company in a report on Monday, February 10th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $19.25.

Insiders Place Their Bets

In related news, CEO Howard A. Friedman acquired 3,525 shares of the stock in a transaction on Monday, February 24th. The shares were acquired at an average price of $14.16 per share, for a total transaction of $49,914.00. Following the transaction, the chief executive officer now owns 265,729 shares in the company, valued at approximately $3,762,722.64. This trade represents a 1.34 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Cc Collier Holdings, Llc sold 496,038 shares of the business's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $13.40, for a total transaction of $6,646,909.20. The disclosure for this sale can be found here. Corporate insiders own 16.32% of the company's stock.

Utz Brands Stock Down 0.7 %

Shares of UTZ traded down $0.09 during mid-day trading on Tuesday, hitting $13.13. The company's stock had a trading volume of 266,839 shares, compared to its average volume of 832,466. Utz Brands, Inc. has a 52-week low of $12.71 and a 52-week high of $20.04. The company's 50-day moving average is $13.69 and its 200-day moving average is $15.43. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of 72.61, a PEG ratio of 0.86 and a beta of 1.10. 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 - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.19 by $0.03. Utz Brands had a return on equity of 7.92% and a net margin of 1.13%. The business had revenue of $341.05 million for the quarter, compared to the consensus estimate of $349.93 million. During the same period in the prior year, the firm posted $0.16 earnings per share. On average, equities research analysts forecast that Utz Brands, Inc. will post 0.85 EPS for the current fiscal year.

Utz Brands Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Monday, April 7th will be paid a dividend of $0.011 per share. The ex-dividend date of this dividend is Monday, April 7th. This represents a $0.04 dividend on an annualized basis and a yield of 0.34%. Utz Brands's payout ratio is 133.33%.

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.