PNC Financial Services Group Inc. Boosts Holdings in Utz Brands, Inc. $UTZ

PNC Financial Services Group Inc. boosted its holdings in Utz Brands, Inc. (NYSE:UTZ) by 79.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,987 shares of the company’s stock after purchasing an additional 6,632 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Utz Brands were worth $211,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. Commerce Bank lifted its holdings in Utz Brands by 18.8% in the first quarter. Commerce Bank now owns 21,230 shares of the company’s stock worth $299,000 after purchasing an additional 3,355 shares during the period. US Bancorp DE boosted its position in shares of Utz Brands by 2,462.5% in the first quarter. US Bancorp DE now owns 13,171 shares of the company’s stock worth $185,000 after buying an additional 12,657 shares during the period. Natixis Advisors LLC acquired a new position in shares of Utz Brands in the 1st quarter valued at about $602,000. XTX Topco Ltd acquired a new position in shares of Utz Brands in the 1st quarter valued at about $391,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Utz Brands by 45.0% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,467 shares of the company’s stock valued at $359,000 after purchasing an additional 7,901 shares during the period. Hedge funds and other institutional investors own 95.97% of the company’s stock.

Utz Brands Price Performance

Shares of UTZ opened at $12.91 on Monday. The stock has a market cap of $1.83 billion, a PE ratio of 61.48, a PEG ratio of 1.74 and a beta of 1.17. The business has a 50-day simple moving average of $13.40 and a two-hundred day simple moving average of $13.36. The company has a quick ratio of 0.87, a current ratio of 1.29 and a debt-to-equity ratio of 0.62. Utz Brands, Inc. has a 12-month low of $11.53 and a 12-month high of $18.89.

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

Utz Brands Increases Dividend

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

Wall Street Analysts Forecast Growth

UTZ has been the subject of several recent research reports. DA Davidson raised Utz Brands from a “neutral” rating to a “buy” rating and set a $16.00 price target for the company in a research note on Thursday, April 24th. UBS Group upped their target price on Utz Brands from $13.50 to $15.00 and gave the company a “neutral” rating in a research note on Thursday, July 17th. 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, TD Cowen lowered Utz Brands from a “buy” rating to a “hold” rating and lowered their target price for the company from $17.00 to $15.00 in a research note on Tuesday, April 22nd. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.29.

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.