Utz Brands, Inc. (NYSE:UTZ) Stock Position Reduced by Jennison Associates LLC

Jennison Associates LLC reduced its holdings in Utz Brands, Inc. (NYSE:UTZ - Free Report) by 25.9% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,545,257 shares of the company's stock after selling 541,421 shares during the quarter. Jennison Associates LLC owned approximately 1.10% of Utz Brands worth $27,351,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Fifth Third Bancorp acquired a new stake in Utz Brands during the second quarter worth about $44,000. Canada Pension Plan Investment Board acquired a new stake in shares of Utz Brands during the 2nd quarter worth approximately $80,000. SG Americas Securities LLC bought a new stake in shares of Utz Brands in the 2nd quarter worth approximately $103,000. nVerses Capital LLC acquired a new position in Utz Brands during the 3rd quarter valued at approximately $142,000. Finally, XTX Topco Ltd bought a new position in Utz Brands during the 2nd quarter worth $185,000. 95.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Cc Collier Holdings, Llc sold 2,815,404 shares of the firm's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $17.29, for a total transaction of $48,678,335.16. Following the completion of the sale, the insider now directly owns 496,038 shares of the company's stock, valued at $8,576,497.02. This trade represents a 85.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Cary Devore sold 30,000 shares of the business's stock in a transaction on Monday, November 4th. The stock was sold at an average price of $17.32, for a total value of $519,600.00. Following 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. Insiders own 17.00% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on UTZ. Mizuho reduced their price target on shares of Utz Brands from $24.00 to $21.00 and set an "outperform" rating for the company in a report on Monday, November 4th. Piper Sandler upped their target price on shares of Utz Brands from $22.00 to $24.00 and gave the stock an "overweight" rating in a research report on Friday, November 1st. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $22.00 price target on shares of Utz Brands in a report on Friday, August 2nd. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $21.22.

Utz Brands Price Performance

Shares of NYSE UTZ traded up $0.19 during mid-day trading on Friday, reaching $17.10. 528,036 shares of the company traded hands, compared to its average volume of 758,302. Utz Brands, Inc. has a fifty-two week low of $12.99 and a fifty-two week high of $20.04. The firm has a market cap of $2.41 billion, a PE ratio of -89.00, a price-to-earnings-growth ratio of 1.14 and a beta of 1.01. The stock has a fifty day simple moving average of $17.23 and a 200-day simple moving average of $17.12. 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 (NYSE:UTZ - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.01. The company had revenue of $365.50 million for the quarter, compared to analysts' expectations of $363.98 million. Utz Brands had a positive return on equity of 7.25% and a negative net margin of 0.99%. The firm's revenue for the quarter was down 1.7% on a year-over-year basis. During the same period last year, the firm earned $0.17 EPS. Equities research analysts anticipate that Utz Brands, Inc. will post 0.73 EPS for the current fiscal year.

Utz Brands Announces Dividend

The firm also recently declared a None dividend, which was paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th were issued a $0.011 dividend. This represents a yield of 1.3%. The ex-dividend date of this dividend was Monday, September 16th. Utz Brands's payout ratio is -126.32%.

Utz Brands 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.