Utz Brands, Inc. (NYSE:UTZ) Shares Acquired by State Street Corp

State Street Corp increased its stake in Utz Brands, Inc. (NYSE:UTZ - Free Report) by 9.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,758,961 shares of the company's stock after buying an additional 152,868 shares during the quarter. State Street Corp owned about 1.25% of Utz Brands worth $31,256,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Victory Capital Management Inc. lifted its holdings in Utz Brands by 19.0% in the 3rd quarter. Victory Capital Management Inc. now owns 1,474,047 shares of the company's stock worth $26,091,000 after buying an additional 235,622 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Utz Brands by 2.1% in the second quarter. Envestnet Asset Management Inc. now owns 696,019 shares of the company's stock worth $11,582,000 after acquiring an additional 14,647 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Utz Brands by 5.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 571,161 shares of the company's stock worth $10,110,000 after acquiring an additional 28,484 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Utz Brands by 2.6% in the second quarter. Bank of New York Mellon Corp now owns 446,918 shares of the company's stock valued at $7,437,000 after purchasing an additional 11,492 shares during the last quarter. Finally, First Eagle Investment Management LLC grew its stake in Utz Brands by 1.0% during the 2nd quarter. First Eagle Investment Management LLC now owns 441,396 shares of the company's stock valued at $7,345,000 after purchasing an additional 4,550 shares in the last quarter. 95.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Mizuho cut their target price on Utz Brands from $24.00 to $21.00 and set an "outperform" rating on the stock in a research report on Monday, November 4th. Piper Sandler upped their price target on shares of Utz Brands from $22.00 to $24.00 and gave the company an "overweight" rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $21.22.

Utz Brands Stock Performance

UTZ stock traded down $0.03 during trading on Friday, hitting $15.84. 1,312,423 shares of the company's stock traded hands, compared to its average volume of 744,950. The stock has a fifty day moving average price of $17.02 and a two-hundred day moving average price of $16.92. The company has a quick ratio of 0.85, a current ratio of 1.21 and a debt-to-equity ratio of 0.56. Utz Brands, Inc. has a 52 week low of $14.17 and a 52 week high of $20.04. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of -83.37, a price-to-earnings-growth ratio of 1.18 and a beta of 1.01.

Utz Brands (NYSE:UTZ - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.01. The firm had revenue of $365.50 million for the quarter, compared to analyst estimates of $363.98 million. Utz Brands had a negative net margin of 0.99% and a positive return on equity of 7.25%. Utz Brands's quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.17 earnings per share. As a group, equities analysts anticipate that Utz Brands, Inc. will post 0.74 EPS for the current fiscal year.

Utz Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 16th will be paid 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 yield of 1.54%. The ex-dividend date is Monday, December 16th. Utz Brands's dividend payout ratio is presently -126.32%.

Insiders Place Their Bets

In other news, EVP Cary Devore sold 30,000 shares of Utz Brands stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $17.32, for a total transaction of $519,600.00. Following the sale, the executive vice president now owns 451,117 shares of the company's stock, valued at approximately $7,813,346.44. The trade was a 6.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Cc Collier Holdings, Llc sold 2,815,404 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $17.29, for a total value of $48,678,335.16. Following the transaction, the insider now owns 496,038 shares of the company's stock, valued at approximately $8,576,497.02. This represents a 85.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.00% of the stock is owned by corporate insiders.

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.