PARK CIRCLE Co Invests $591,000 in Utz Brands, Inc. (NYSE:UTZ)

PARK CIRCLE Co bought a new position in shares of Utz Brands, Inc. (NYSE:UTZ - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 37,750 shares of the company's stock, valued at approximately $591,000.

Several other hedge funds have also modified their holdings of UTZ. Envestnet Asset Management Inc. lifted its stake in shares of Utz Brands by 3.7% during the fourth quarter. Envestnet Asset Management Inc. now owns 667,051 shares of the company's stock worth $10,446,000 after purchasing an additional 23,776 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in Utz Brands by 15.2% in the 4th quarter. Wells Fargo & Company MN now owns 152,620 shares of the company's stock worth $2,390,000 after acquiring an additional 20,164 shares during the period. ExodusPoint Capital Management LP grew its position in Utz Brands by 118.0% in the fourth quarter. ExodusPoint Capital Management LP now owns 24,055 shares of the company's stock valued at $377,000 after acquiring an additional 13,019 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Utz Brands by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 1,561,986 shares of the company's stock valued at $24,467,000 after purchasing an additional 13,755 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in shares of Utz Brands by 14.9% during the fourth quarter. JPMorgan Chase & Co. now owns 7,923,292 shares of the company's stock worth $124,079,000 after purchasing an additional 1,025,656 shares in the last quarter. 95.97% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

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

Insider Activity at Utz Brands

In other news, CEO Howard A. Friedman acquired 3,525 shares of Utz Brands stock in a transaction dated Monday, February 24th. The stock was acquired at an average cost of $14.16 per share, for a total transaction of $49,914.00. Following the completion of the purchase, the chief executive officer now owns 265,729 shares of the company's stock, valued at $3,762,722.64. This represents a 1.34 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Cc Collier Holdings, Llc sold 496,038 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $13.40, for a total value of $6,646,909.20. The disclosure for this sale can be found here. Company insiders own 16.32% of the company's stock.

Utz Brands Stock Performance

Shares of NYSE:UTZ traded up $0.23 during trading on Friday, reaching $13.11. 518,410 shares of the company's stock traded hands, compared to its average volume of 838,956. The stock has a market capitalization of $1.85 billion, a P/E ratio of 72.87, a price-to-earnings-growth ratio of 0.86 and a beta of 1.10. Utz Brands, Inc. has a 12 month low of $12.15 and a 12 month high of $20.04. The company has a 50 day moving average of $13.62 and a 200-day moving average of $15.29. 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 posted its earnings results on Thursday, February 20th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.19 by $0.03. The firm had revenue of $341.05 million during the quarter, compared to analyst estimates of $349.93 million. Utz Brands had a net margin of 1.13% and a return on equity of 7.92%. During the same period in the previous year, the business posted $0.16 EPS. On average, equities analysts expect that Utz Brands, Inc. will post 0.85 EPS for the current year.

Utz Brands Cuts Dividend

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

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.