The Manufacturers Life Insurance Company Sells 1,759 Shares of Utz Brands, Inc. (NYSE:UTZ)

The Manufacturers Life Insurance Company cut its holdings in Utz Brands, Inc. (NYSE:UTZ) by 5.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 32,531 shares of the company’s stock after selling 1,759 shares during the period. The Manufacturers Life Insurance Company’s holdings in Utz Brands were worth $509,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Newton One Investments LLC bought a new position in Utz Brands in the 4th quarter worth approximately $26,000. Rhumbline Advisers boosted its holdings in Utz Brands by 1.9% in the 4th quarter. Rhumbline Advisers now owns 95,103 shares of the company’s stock valued at $1,489,000 after purchasing an additional 1,757 shares during the period. LPL Financial LLC boosted its holdings in Utz Brands by 4.7% in the 4th quarter. LPL Financial LLC now owns 39,879 shares of the company’s stock valued at $624,000 after purchasing an additional 1,789 shares during the period. M&T Bank Corp boosted its holdings 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 period. Finally, Swiss National Bank boosted its holdings in Utz Brands by 1.5% in the 4th quarter. Swiss National Bank now owns 138,000 shares of the company’s stock valued at $2,161,000 after purchasing an additional 2,100 shares during the period. 95.97% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Utz Brands news, Director William Jr. Werzyn bought 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 7th. The shares were bought at an average cost of $11.81 per share, with a total value of $94,480.00. Following the completion of the purchase, the director now directly owns 22,970 shares of the company’s stock, valued at $271,275.70. This trade represents a 53.44% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Cc Collier Holdings, Llc sold 496,038 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $13.40, for a total value of $6,646,909.20. The disclosure for this sale can be found here. Insiders have acquired 17,920 shares of company stock valued at $224,156 over the last ninety days. 16.32% of the stock is owned by insiders.

Utz Brands Stock Performance

NYSE UTZ opened at $12.96 on Friday. Utz Brands, Inc. has a 52-week low of $11.53 and a 52-week high of $18.89. 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 company has a market capitalization of $1.83 billion, a P/E ratio of 72.02, a P/E/G ratio of 0.86 and a beta of 1.20. The company has a fifty day moving average of $13.27 and a 200-day moving average of $14.56.

Utz Brands (NYSE:UTZ) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.16 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.16. The company had revenue of $352.08 million during the quarter, compared to the consensus estimate of $345.44 million. Utz Brands had a net margin of 1.13% and a return on equity of 7.92%. The firm’s revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.14 EPS. As a group, equities research analysts predict that Utz Brands, Inc. will post 0.85 EPS for the current fiscal year.

Utz Brands Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Monday, April 7th were paid a $0.011 dividend. The ex-dividend date was Monday, April 7th. This represents a $0.04 annualized dividend and a dividend yield of 0.34%. Utz Brands’s payout ratio is presently 75.00%.

Analyst Upgrades and Downgrades

UTZ has been the subject of several analyst reports. Mizuho cut their price target on shares of Utz Brands from $21.00 to $19.00 and set an “outperform” rating for the company in a report on Monday, February 10th. UBS Group cut their price target on shares of Utz Brands from $15.00 to $13.50 and set a “neutral” rating for the company in a report on Friday, May 2nd. DA Davidson raised shares of Utz Brands from a “neutral” rating to a “buy” rating and set a $16.00 price target for the company in a report on Thursday, April 24th. TD Cowen downgraded shares of Utz Brands from a “buy” rating to a “hold” rating and cut their price target for the company from $17.00 to $15.00 in a report on Tuesday, April 22nd. Finally, Royal Bank of Canada cut their price target on shares of Utz Brands from $23.00 to $20.00 and set an “outperform” rating for the company in a report on Monday, February 24th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $17.81.

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.