Zurcher Kantonalbank Zurich Cantonalbank Increases Holdings in Utz Brands, Inc. (NYSE:UTZ)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Utz Brands, Inc. (NYSE:UTZ) by 45.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,467 shares of the company’s stock after buying an additional 7,901 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Utz Brands were worth $359,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in UTZ. LPL Financial LLC raised its stake in shares of Utz Brands by 4.7% in the fourth quarter. LPL Financial LLC now owns 39,879 shares of the company’s stock worth $624,000 after purchasing an additional 1,789 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Utz Brands by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 1,561,986 shares of the company’s stock worth $24,467,000 after purchasing an additional 13,755 shares during the last quarter. ExodusPoint Capital Management LP raised its stake in shares of Utz Brands by 118.0% in the fourth quarter. ExodusPoint Capital Management LP now owns 24,055 shares of the company’s stock worth $377,000 after purchasing an additional 13,019 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Utz Brands by 15.2% in the fourth quarter. Wells Fargo & Company MN now owns 152,620 shares of the company’s stock worth $2,390,000 after purchasing an additional 20,164 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of Utz Brands by 3.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 667,051 shares of the company’s stock worth $10,446,000 after purchasing an additional 23,776 shares during the last quarter. Hedge funds and other institutional investors own 95.97% of the company’s stock.

Utz Brands Stock Down 1.7%

Utz Brands stock opened at $12.79 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.87 and a current ratio of 1.29. The stock has a fifty day moving average of $13.46 and a 200 day moving average of $13.38. The stock has a market cap of $1.81 billion, a PE ratio of 60.89, a price-to-earnings-growth ratio of 1.75 and a beta of 1.17. Utz Brands, Inc. has a one year low of $11.53 and a one year high of $18.89.

Utz Brands (NYSE:UTZ) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.02). The company had revenue of $366.70 million during the quarter, compared to analysts’ expectations of $360.55 million. Utz Brands had a return on equity of 7.81% and a net margin of 1.27%. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.19 EPS. As a group, sell-side analysts predict that Utz Brands, Inc. will post 0.85 EPS for the current year.

Utz Brands Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Monday, June 16th were given a $0.061 dividend. The ex-dividend date was Monday, June 16th. This is a positive change from Utz Brands’s previous quarterly dividend of $0.01. This represents a $0.24 dividend on an annualized basis and a yield of 1.9%. Utz Brands’s dividend payout ratio (DPR) is currently 114.29%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on UTZ shares. TD Cowen cut Utz Brands from a “buy” rating to a “hold” rating and decreased their price target for the stock from $17.00 to $15.00 in a research note on Tuesday, April 22nd. Barclays decreased their price target on Utz Brands from $17.00 to $16.00 and set an “overweight” rating for the company in a research note on Friday, June 27th. UBS Group boosted their price target on Utz Brands from $13.50 to $15.00 and gave the stock a “neutral” rating in a research note on Thursday, July 17th. Finally, 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 research report on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $17.29.

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.