US Bancorp DE Acquires 12,657 Shares of Utz Brands, Inc. (NYSE:UTZ)

US Bancorp DE raised its holdings in Utz Brands, Inc. (NYSE:UTZ) by 2,462.5% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,171 shares of the company’s stock after acquiring an additional 12,657 shares during the quarter. US Bancorp DE’s holdings in Utz Brands were worth $185,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Natixis Advisors LLC purchased a new stake in shares of Utz Brands during the 1st quarter worth $602,000. XTX Topco Ltd acquired a new stake in Utz Brands during the first quarter worth about $391,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Utz Brands by 45.0% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,467 shares of the company’s stock worth $359,000 after acquiring an additional 7,901 shares during the period. Cetera Investment Advisers boosted its position in Utz Brands by 46.4% during the first quarter. Cetera Investment Advisers now owns 15,684 shares of the company’s stock worth $221,000 after purchasing an additional 4,973 shares in the last quarter. Finally, Avantax Advisory Services Inc. boosted its position in Utz Brands by 7.1% during the first quarter. Avantax Advisory Services Inc. now owns 30,237 shares of the company’s stock worth $426,000 after purchasing an additional 2,012 shares in the last quarter. 95.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

UTZ has been the topic of several research reports. TD Cowen downgraded 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 research report on Tuesday, April 22nd. DA Davidson raised Utz Brands from a “neutral” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Thursday, April 24th. Barclays dropped their price objective 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. 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 note on Thursday, July 17th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $17.29.

Utz Brands Stock Down 2.3%

Utz Brands stock opened at $12.91 on Friday. Utz Brands, Inc. has a fifty-two week low of $11.53 and a fifty-two week high of $18.89. 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 company has a market capitalization of $1.83 billion, a P/E ratio of 61.48, a PEG ratio of 1.78 and a beta of 1.17. The stock has a 50-day simple moving average of $13.40 and a 200-day simple moving average of $13.36.

Utz Brands (NYSE:UTZ) last posted its earnings results on Thursday, July 31st. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.02). Utz Brands had a net margin of 1.27% and a return on equity of 7.81%. The firm had revenue of $366.70 million during the quarter, compared to analysts’ expectations of $360.55 million. During the same period in the previous year, the firm posted $0.19 earnings per share. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. Equities research analysts expect that Utz Brands, Inc. will post 0.85 earnings per share for the current year.

Utz Brands Increases Dividend

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

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.