Vanguard Group Inc. Reduces Position in Utz Brands, Inc. (NYSE:UTZ)

Vanguard Group Inc. reduced its position in Utz Brands, Inc. (NYSE:UTZ - Free Report) by 0.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 6,938,495 shares of the company's stock after selling 54,287 shares during the period. Vanguard Group Inc. owned 4.92% of Utz Brands worth $108,657,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in UTZ. Newton One Investments LLC acquired a new position in Utz Brands during the fourth quarter worth approximately $26,000. Venturi Wealth Management LLC acquired a new position in shares of Utz Brands in the 4th quarter valued at $54,000. Moody National Bank Trust Division purchased a new stake in Utz Brands in the 4th quarter valued at $169,000. M&T Bank Corp raised its position in Utz Brands by 18.9% in the 4th quarter. M&T Bank Corp now owns 12,678 shares of the company's stock valued at $198,000 after purchasing an additional 2,011 shares during the last quarter. Finally, Ballentine Partners LLC acquired a new stake in Utz Brands during the 4th quarter worth $220,000. 95.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

UTZ has been the topic of a number of recent research reports. TD Cowen dropped their price objective on shares of Utz Brands from $21.00 to $17.00 and set a "buy" rating on the stock in a research note on Wednesday, January 8th. Mizuho dropped their price target 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. DA Davidson lowered their target price on Utz Brands from $18.00 to $16.00 and set a "neutral" rating on the stock in a research note on Monday, February 24th. Piper Sandler cut their price target 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. Finally, Barclays decreased their price target on Utz Brands from $19.00 to $17.00 and set an "overweight" rating for the company in a report on Friday, January 17th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $19.25.

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Insider Buying and Selling

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

Utz Brands Price Performance

UTZ stock traded up $0.31 on Friday, reaching $13.19. 1,293,410 shares of the company's stock were exchanged, compared to its average volume of 845,217. The stock has a fifty day moving average of $13.62 and a 200-day moving average of $15.25. The firm has a market cap of $1.86 billion, a PE ratio of 73.25, a P/E/G ratio of 0.86 and a beta of 1.10. 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 twelve month low of $12.15 and a twelve month high of $20.04.

Utz Brands (NYSE:UTZ - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.22 earnings per share for the quarter, topping analysts' consensus estimates of $0.19 by $0.03. Utz Brands had a net margin of 1.13% and a return on equity of 7.92%. The business had revenue of $341.05 million for the quarter, compared to analysts' expectations of $349.93 million. During the same period in the prior year, the company posted $0.16 EPS. As a group, equities analysts predict that Utz Brands, Inc. will post 0.85 EPS for the current fiscal year.

Utz Brands Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Monday, April 7th will be issued a $0.011 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date is Monday, April 7th. Utz Brands's dividend payout ratio is currently 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.