M&T Bank Corp Sells 1,980 Shares of Utz Brands, Inc. (NYSE:UTZ)

M&T Bank Corp lowered its position in Utz Brands, Inc. (NYSE:UTZ) by 15.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,698 shares of the company’s stock after selling 1,980 shares during the quarter. M&T Bank Corp’s holdings in Utz Brands were worth $151,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Janney Montgomery Scott LLC acquired a new position in shares of Utz Brands in the 1st quarter worth approximately $196,000. Wells Fargo & Company MN grew its position in Utz Brands by 15.2% during the fourth quarter. Wells Fargo & Company MN now owns 152,620 shares of the company’s stock valued at $2,390,000 after acquiring an additional 20,164 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Utz Brands in the fourth quarter worth $339,000. D. E. Shaw & Co. Inc. lifted its position in Utz Brands by 250.8% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 89,083 shares of the company’s stock valued at $1,395,000 after buying an additional 63,692 shares during the period. Finally, Two Sigma Investments LP bought a new position in shares of Utz Brands during the fourth quarter valued at $512,000. Institutional investors and hedge funds own 95.97% of the company’s stock.

Utz Brands Stock Performance

UTZ opened at $14.07 on Friday. Utz Brands, Inc. has a twelve month low of $11.53 and a twelve month high of $18.89. The company has a current ratio of 1.32, a quick ratio of 0.91 and a debt-to-equity ratio of 0.61. The stock has a market cap of $1.99 billion, a PE ratio of 43.97, a price-to-earnings-growth ratio of 1.62 and a beta of 1.14. The business’s 50 day moving average is $13.14 and its 200-day moving average is $13.42.

Utz Brands (NYSE:UTZ) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.16 EPS for the quarter, meeting the consensus estimate of $0.16. Utz Brands had a net margin of 1.94% and a return on equity of 8.05%. The business had revenue of $352.08 million for the quarter, compared to analysts’ expectations of $345.44 million. During the same period in the previous year, the company posted $0.14 EPS. Utz Brands’s revenue was up 1.6% on a year-over-year basis. On average, analysts predict that Utz Brands, Inc. will post 0.85 earnings per share for the current year.

Utz Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Monday, June 16th were given a dividend of $0.061 per share. The ex-dividend date was Monday, June 16th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.73%. This is a positive change from Utz Brands’s previous quarterly dividend of $0.01. Utz Brands’s dividend payout ratio is currently 75.00%.

Wall Street Analyst Weigh In

UTZ has been the subject of a number of recent analyst reports. DA Davidson upgraded Utz Brands from a “neutral” rating to a “buy” rating and set a $16.00 price objective for the company in a report on Thursday, April 24th. TD Cowen lowered Utz Brands from a “buy” rating to a “hold” rating and decreased their target price for the company from $17.00 to $15.00 in a report on Tuesday, April 22nd. Barclays reduced their target price on Utz Brands from $17.00 to $16.00 and set an “overweight” rating for the company in a report on Friday, June 27th. Finally, UBS Group boosted their target price on Utz Brands from $13.50 to $15.00 and gave the stock a “neutral” rating in a research report on Thursday. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $17.88.

Insider Transactions at Utz Brands

In other Utz Brands news, Director William Jr. Werzyn purchased 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 7th. The shares were acquired at an average cost of $11.81 per share, for a total transaction of $94,480.00. Following the transaction, the director directly owned 22,970 shares in the company, valued at approximately $271,275.70. The trade was a 53.44% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Timothy Brown purchased 5,000 shares of the firm’s stock in a transaction dated Monday, May 5th. The shares were bought at an average cost of $11.96 per share, for a total transaction of $59,800.00. Following the completion of the purchase, the director directly owned 67,573 shares of the company’s stock, valued at $808,173.08. The trade was a 7.99% increase in their ownership of the stock. The disclosure for this purchase can be found here. 16.32% of the stock is currently owned by corporate insiders.

About Utz Brands

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.