UBS Asset Management Americas Inc. Acquires 10,308 Shares of Utz Brands, Inc. (NYSE:UTZ)

UBS Asset Management Americas Inc. increased its holdings in Utz Brands, Inc. (NYSE:UTZ) by 36.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 38,308 shares of the company’s stock after purchasing an additional 10,308 shares during the quarter. UBS Asset Management Americas Inc.’s holdings in Utz Brands were worth $835,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. IFP Advisors Inc grew its stake in shares of Utz Brands by 41.0% in the second quarter. IFP Advisors Inc now owns 1,720 shares of the company’s stock worth $38,000 after purchasing an additional 500 shares during the last quarter. M&T Bank Corp lifted its holdings in Utz Brands by 3.9% in the second quarter. M&T Bank Corp now owns 14,885 shares of the company’s stock valued at $324,000 after buying an additional 560 shares during the period. KB Financial Partners LLC acquired a new position in Utz Brands in the first quarter valued at $34,000. Cambridge Investment Research Advisors Inc. lifted its holdings in Utz Brands by 13.6% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 12,266 shares of the company’s stock valued at $267,000 after buying an additional 1,464 shares during the period. Finally, Outfitter Financial LLC lifted its holdings in Utz Brands by 4.1% in the second quarter. Outfitter Financial LLC now owns 38,415 shares of the company’s stock valued at $837,000 after buying an additional 1,520 shares during the period. 41.16% of the stock is currently owned by institutional investors.

In other Utz Brands news, Director Jason K. Giordano sold 4,045 shares of the company’s stock in a transaction dated Monday, October 18th. The shares were sold at an average price of $16.03, for a total value of $64,841.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Chinh Chu sold 56,250 shares of the stock in a transaction that occurred on Tuesday, November 16th. The shares were sold at an average price of $16.36, for a total transaction of $920,250.00. The disclosure for this sale can be found here. Insiders sold a total of 459,253 shares of company stock valued at $7,506,523 over the last ninety days. 17.32% of the stock is currently owned by insiders.

Several equities analysts recently issued reports on the stock. The Goldman Sachs Group dropped their target price on shares of Utz Brands from $25.00 to $20.50 and set a “neutral” rating on the stock in a report on Tuesday, August 24th. Zacks Investment Research lowered shares of Utz Brands from a “hold” rating to a “sell” rating in a report on Tuesday, November 9th. Oppenheimer dropped their price objective on shares of Utz Brands from $23.00 to $20.00 and set an “outperform” rating on the stock in a report on Tuesday, November 16th. Stephens dropped their price objective on shares of Utz Brands from $27.00 to $23.00 and set an “overweight” rating on the stock in a report on Friday, August 13th. Finally, Citigroup upped their price objective on shares of Utz Brands from $19.00 to $21.00 and gave the company a “buy” rating in a report on Friday, November 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $24.63.

UTZ opened at $15.89 on Thursday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.71 and a quick ratio of 1.26. Utz Brands, Inc. has a fifty-two week low of $15.05 and a fifty-two week high of $30.09. The firm has a market capitalization of $2.18 billion, a PE ratio of 88.28 and a beta of 0.61. The company’s 50-day moving average is $16.40 and its 200 day moving average is $20.02.

Utz Brands (NYSE:UTZ) last posted its earnings results on Thursday, November 11th. The company reported $0.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.03. Utz Brands had a net margin of 1.81% and a return on equity of 5.80%. The company had revenue of $312.68 million for the quarter, compared to analyst estimates of $311.01 million. As a group, analysts expect that Utz Brands, Inc. will post 0.58 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 11th. Shareholders of record on Monday, September 20th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend was Friday, September 17th. Utz Brands’s payout ratio is 111.11%.

Utz Brands Profile

UTZ Brands, Inc manufactures, markets, and distributes branded snacking products. It offers a broad range of salty snacks, including potato chips, pretzels, cheese snacks, veggie snacks, pork skins and other snacks. The firm’s brands include Utz, Zapp’s, Golden Flake, Good Health, Boulder Canyon and Hawaiian.

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Institutional Ownership by Quarter for Utz Brands (NYSE:UTZ)

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