KLP Kapitalforvaltning AS Has $175,000 Stake in Utz Brands, Inc. $UTZ

KLP Kapitalforvaltning AS cut its stake in Utz Brands, Inc. (NYSE:UTZ) by 15.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,900 shares of the company’s stock after selling 2,500 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Utz Brands were worth $175,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of UTZ. Ameriprise Financial Inc. increased its position in Utz Brands by 38.0% during the first quarter. Ameriprise Financial Inc. now owns 5,671,757 shares of the company’s stock worth $79,858,000 after acquiring an additional 1,560,884 shares during the period. Tributary Capital Management LLC bought a new position in Utz Brands during the first quarter worth about $11,697,000. Bahl & Gaynor Inc. increased its position in Utz Brands by 221.7% during the first quarter. Bahl & Gaynor Inc. now owns 914,325 shares of the company’s stock worth $12,874,000 after acquiring an additional 630,149 shares during the period. Goldman Sachs Group Inc. increased its position in Utz Brands by 40.8% during the first quarter. Goldman Sachs Group Inc. now owns 2,022,709 shares of the company’s stock worth $28,480,000 after acquiring an additional 585,952 shares during the period. Finally, Vanguard Group Inc. increased its position in Utz Brands by 7.2% during the first quarter. Vanguard Group Inc. now owns 7,439,869 shares of the company’s stock worth $104,753,000 after acquiring an additional 501,374 shares during the period. 95.97% of the stock is owned by institutional investors.

Utz Brands Trading Up 2.4%

UTZ opened at $12.53 on Tuesday. The company’s 50 day moving average is $12.76 and its 200-day moving average is $13.04. Utz Brands, Inc. has a 1-year low of $11.53 and a 1-year high of $18.29. The company has a current ratio of 1.29, a quick ratio of 0.87 and a debt-to-equity ratio of 0.62. The company has a market cap of $1.77 billion, a P/E ratio of 59.64, a PEG ratio of 1.64 and a beta of 1.02.

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

Utz Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Investors of record on Monday, September 15th were given a dividend of $0.061 per share. The ex-dividend date was Monday, September 15th. This represents a $0.24 annualized dividend and a yield of 1.9%. Utz Brands’s dividend payout ratio (DPR) is currently 114.29%.

Insider Buying and Selling

In related news, Director Christina Choi sold 5,703 shares of Utz Brands stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $13.63, for a total transaction of $77,731.89. Following the sale, the director directly owned 33,710 shares in the company, valued at $459,467.30. This trade represents a 14.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 16.32% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

UTZ has been the topic of several recent analyst reports. UBS Group decreased their target price on shares of Utz Brands from $15.00 to $13.50 and set a “neutral” rating on the stock in a report on Wednesday, October 8th. Barclays decreased their target price on shares of Utz Brands from $17.00 to $16.00 and set an “overweight” rating on the stock in a report on Friday, June 27th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Utz Brands in a report on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $17.07.

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.