Ballentine Partners LLC Purchases New Shares in Utz Brands, Inc. $UTZ

Ballentine Partners LLC purchased a new stake in Utz Brands, Inc. (NYSE:UTZ) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 13,488 shares of the company’s stock, valued at approximately $169,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd purchased a new stake in Utz Brands in the 1st quarter valued at $32,000. Harbor Investment Advisory LLC raised its position in Utz Brands by 37.6% in the 2nd quarter. Harbor Investment Advisory LLC now owns 5,481 shares of the company’s stock valued at $69,000 after purchasing an additional 1,497 shares during the last quarter. First Horizon Advisors Inc. raised its position in Utz Brands by 44.8% in the 1st quarter. First Horizon Advisors Inc. now owns 7,887 shares of the company’s stock valued at $111,000 after purchasing an additional 2,441 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in Utz Brands in the 1st quarter valued at $144,000. Finally, Parallel Advisors LLC raised its position in Utz Brands by 38.9% in the 1st quarter. Parallel Advisors LLC now owns 12,904 shares of the company’s stock valued at $182,000 after purchasing an additional 3,616 shares during the last quarter. Hedge funds and other institutional investors own 95.97% of the company’s stock.

Wall Street Analyst Weigh In

UTZ has been the subject of several research reports. UBS Group upped their price target on shares of Utz Brands from $13.50 to $15.00 and gave the company a “neutral” rating in a research report on Thursday, July 17th. Barclays cut their price objective on shares of Utz Brands from $17.00 to $16.00 and set an “overweight” rating for the company in a research report on Friday, June 27th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $17.29.

Insider Buying and Selling

In related news, Director Christina Choi sold 5,703 shares of the stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $13.63, for a total value of $77,731.89. Following the sale, the director directly owned 33,710 shares of the company’s stock, valued at approximately $459,467.30. This represents a 14.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 16.32% of the company’s stock.

Utz Brands Stock Performance

NYSE:UTZ opened at $12.15 on Wednesday. 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 fifty-two week low of $11.53 and a fifty-two week high of $18.29. The stock has a market cap of $1.72 billion, a PE ratio of 57.86, a price-to-earnings-growth ratio of 1.59 and a beta of 1.03. The firm’s fifty day simple moving average is $13.14 and its 200-day simple moving average is $13.21.

Utz Brands (NYSE:UTZ) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.02). The business had revenue of $366.70 million during the quarter, compared to analyst estimates of $360.55 million. Utz Brands had a net margin of 1.27% and a return on equity of 7.81%. Utz Brands’s revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.19 earnings per share. Utz Brands has set its FY 2025 guidance at 0.820-0.850 EPS. Analysts expect that Utz Brands, Inc. will post 0.85 earnings per share for the current fiscal year.

Utz Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Monday, September 15th will be paid a $0.061 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Monday, September 15th. Utz Brands’s dividend 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.