Utz Brands, Inc. (NYSE:UTZ) Shares Bought by Truist Financial Corp

Truist Financial Corp raised its stake in Utz Brands, Inc. (NYSE:UTZ) by 20.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,209 shares of the company’s stock after acquiring an additional 4,176 shares during the period. Truist Financial Corp’s holdings in Utz Brands were worth $403,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Utz Brands by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 6,780,350 shares of the company’s stock valued at $110,113,000 after acquiring an additional 22,908 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of Utz Brands by 15.2% during the first quarter. Jennison Associates LLC now owns 1,331,581 shares of the company’s stock worth $24,554,000 after buying an additional 175,956 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Utz Brands by 22.0% during the second quarter. Victory Capital Management Inc. now owns 1,238,425 shares of the company’s stock worth $20,607,000 after buying an additional 223,462 shares during the period. Clearbridge Investments LLC boosted its stake in shares of Utz Brands by 2.2% during the first quarter. Clearbridge Investments LLC now owns 874,124 shares of the company’s stock worth $16,119,000 after buying an additional 18,786 shares during the period. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Utz Brands by 2.1% during the second quarter. Envestnet Asset Management Inc. now owns 696,019 shares of the company’s stock worth $11,582,000 after buying an additional 14,647 shares during the period. Institutional investors and hedge funds own 95.97% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on UTZ shares. Needham & Company LLC reiterated a “buy” rating and set a $22.00 target price on shares of Utz Brands in a research note on Friday, August 2nd. Barclays cut their price target on shares of Utz Brands from $23.00 to $19.00 and set an “overweight” rating for the company in a report on Friday, July 19th. Finally, Piper Sandler reissued an “overweight” rating and set a $22.00 price target on shares of Utz Brands in a report on Wednesday, August 21st. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $20.36.

Insider Activity

In other Utz Brands news, Director Bruce John Lindeman purchased 4,000 shares of the stock in a transaction dated Monday, August 5th. The shares were acquired at an average cost of $16.11 per share, for a total transaction of $64,440.00. Following the completion of the transaction, the director now directly owns 42,480 shares of the company’s stock, valued at $684,352.80. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 17.00% of the company’s stock.

Utz Brands Trading Up 0.5 %

Shares of Utz Brands stock opened at $17.64 on Friday. Utz Brands, Inc. has a 12-month low of $11.50 and a 12-month high of $20.04. The company has a current ratio of 1.69, a quick ratio of 1.21 and a debt-to-equity ratio of 0.57. The stock has a market cap of $2.48 billion, a PE ratio of -70.56, a price-to-earnings-growth ratio of 1.14 and a beta of 1.01. The company has a 50-day moving average of $17.33 and a two-hundred day moving average of $17.30.

Utz Brands (NYSE:UTZ) last issued its earnings results on Thursday, August 1st. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. Utz Brands had a net margin of 0.29% and a return on equity of 6.79%. The company had revenue of $356.20 million during the quarter, compared to analysts’ expectations of $356.23 million. During the same period last year, the company posted $0.13 earnings per share. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. On average, research analysts anticipate that Utz Brands, Inc. will post 0.74 EPS for the current fiscal year.

Utz Brands Dividend Announcement

The business also recently announced a None dividend, which was paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th were issued a $0.011 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a yield of 1.3%. Utz Brands’s dividend payout ratio (DPR) is presently -92.00%.

Utz Brands 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.