Utz Brands, Inc. $UTZ Shares Newly Acquired by New York Life Investment Management LLC

New York Life Investment Management LLC purchased a new position in Utz Brands, Inc. (NYSE:UTZ) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 180,389 shares of the company’s stock, valued at approximately $2,571,000.

Several other institutional investors also recently added to or reduced their stakes in UTZ. Signaturefd LLC lifted its holdings in Utz Brands by 3,524.2% during the 3rd quarter. Signaturefd LLC now owns 2,247 shares of the company’s stock valued at $32,000 after buying an additional 2,185 shares in the last quarter. Hsbc Holdings PLC boosted its position in Utz Brands by 8.2% in the 1st quarter. Hsbc Holdings PLC now owns 30,021 shares of the company’s stock valued at $231,000 after buying an additional 2,264 shares during the period. GAMMA Investing LLC grew its stake in Utz Brands by 318.5% in the 3rd quarter. GAMMA Investing LLC now owns 3,783 shares of the company’s stock worth $54,000 after acquiring an additional 2,879 shares in the last quarter. Diversify Wealth Management LLC grew its stake in Utz Brands by 23.6% in the 1st quarter. Diversify Wealth Management LLC now owns 20,628 shares of the company’s stock worth $160,000 after acquiring an additional 3,936 shares in the last quarter. Finally, Versant Capital Management Inc grew its stake in Utz Brands by 363.5% in the 2nd quarter. Versant Capital Management Inc now owns 6,086 shares of the company’s stock worth $47,000 after acquiring an additional 4,773 shares in the last quarter. Hedge funds and other institutional investors own 95.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Piper Sandler downgraded shares of Utz Brands from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $10.00 to $14.25 in a research note on Thursday, July 23rd. Jefferies Financial Group lowered Utz Brands from a “strong-buy” rating to a “hold” rating and set a $14.25 price target for the company. in a report on Tuesday, July 21st. UBS Group reissued a “neutral” rating and issued a $14.25 price objective on shares of Utz Brands in a research note on Wednesday, July 22nd. Weiss Ratings upgraded Utz Brands from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, October 12th. Finally, DA Davidson lowered Utz Brands from a “buy” rating to a “neutral” rating and decreased their target price for the company from $15.00 to $14.25 in a research report on Wednesday, July 22nd. One equities research analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $13.39.

Utz Brands Stock Up 0.2%

Shares of UTZ traded up $0.03 during mid-day trading on Friday, hitting $14.28. The company’s stock had a trading volume of 4,084,422 shares, compared to its average volume of 1,866,302. The company’s 50-day moving average is $14.27 and its 200-day moving average is $10.61. Utz Brands, Inc. has a 52-week low of $6.78 and a 52-week high of $14.36. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of -33.20 and a beta of 0.79. The company has a current ratio of 1.07, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66.

Utz Brands (NYSE:UTZ) last released its quarterly earnings data on Friday, November 6th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.13). The business had revenue of $369.20 million for the quarter, compared to the consensus estimate of $384.60 million. Utz Brands had a negative net margin of 2.67% and a positive return on equity of 7.64%. Utz Brands’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.23 earnings per share. On average, equities research analysts forecast that Utz Brands, Inc. will post 0.80 EPS for the current fiscal year.

Utz Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Monday, September 21st were issued a dividend of $0.0630 per share. The ex-dividend date was Monday, September 21st. This represents a $0.25 dividend on an annualized basis and a yield of 1.8%. Utz Brands’s dividend payout ratio is currently -58.14%.

Utz Brands Profile

Utz Brands, Inc. makes and markets snack foods, including potato chips, pretzels, tortilla chips, popcorn, pork rinds and cheese snacks. Its portfolio includes Utz, Zapp’s, Boulder Canyon, On The Border and Golden Flake, among other brands. Founded in 1921 by William and Salie Utz in Hanover, Pennsylvania, the company began as a family-operated potato chip business and has grown through expansion and acquisitions. Utz is headquartered in Hanover. The company sells its products across the United States, with a longstanding presence in the eastern U.S. Its products reach consumers through grocery and convenience stores, mass retailers, club stores, and other retail and food-service channels.