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

State Street Corp boosted its position in shares of Utz Brands, Inc. (NYSE:UTZ) by 9.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,758,961 shares of the company’s stock after buying an additional 152,868 shares during the period. State Street Corp owned 1.25% of Utz Brands worth $31,256,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in UTZ. Fifth Third Bancorp acquired a new position in shares of Utz Brands in the 2nd quarter valued at $44,000. Canada Pension Plan Investment Board purchased a new stake in shares of Utz Brands in the second quarter valued at about $80,000. SG Americas Securities LLC acquired a new stake in shares of Utz Brands during the second quarter worth about $103,000. nVerses Capital LLC acquired a new stake in shares of Utz Brands during the third quarter worth about $142,000. Finally, XTX Topco Ltd purchased a new position in shares of Utz Brands during the second quarter worth about $185,000. Hedge funds and other institutional investors own 95.97% of the company’s stock.

Utz Brands Price Performance

Shares of NYSE UTZ opened at $15.84 on Friday. The company’s fifty day moving average is $17.02 and its two-hundred day moving average is $16.92. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.85 and a current ratio of 1.21. The firm has a market capitalization of $2.23 billion, a P/E ratio of -83.37, a PEG ratio of 1.18 and a beta of 1.01. Utz Brands, Inc. has a one year low of $14.17 and a one year high of $20.04.

Utz Brands (NYSE:UTZ) last issued its earnings results 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. Utz Brands had a negative net margin of 0.99% and a positive return on equity of 7.25%. The company had revenue of $365.50 million for the quarter, compared to analyst estimates of $363.98 million. During the same period in the prior year, the business posted $0.17 earnings per share. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. Analysts forecast that Utz Brands, Inc. will post 0.74 EPS for the current fiscal year.

Utz Brands Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be given a dividend of $0.061 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.54%. This is an increase from Utz Brands’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Monday, December 16th. Utz Brands’s payout ratio is presently -126.32%.

Insider Buying and Selling at Utz Brands

In related 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 completion of the transaction, the executive vice president now directly owns 451,117 shares in the company, valued at $7,813,346.44. The trade was a 6.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Cc Collier Holdings, Llc sold 2,815,404 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $17.29, for a total value of $48,678,335.16. Following the sale, the insider now owns 496,038 shares in the company, valued at approximately $8,576,497.02. This trade represents a 85.02 % decrease in their position. The disclosure for this sale can be found here. 17.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on UTZ shares. Mizuho reduced their price objective on Utz Brands from $24.00 to $21.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. Piper Sandler increased their price target on Utz Brands from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $21.22.

Utz Brands 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.