Fmr LLC Has $112,000 Stake in Utz Brands, Inc. (NYSE:UTZ)

Fmr LLC cut its stake in shares of Utz Brands, Inc. (NYSE:UTZ) by 22.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,343 shares of the company’s stock after selling 1,787 shares during the quarter. Fmr LLC’s holdings in Utz Brands were worth $112,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in UTZ. SG Americas Securities LLC bought a new position in Utz Brands during the 2nd quarter worth approximately $103,000. Envestnet Portfolio Solutions Inc. grew its holdings in Utz Brands by 11.6% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 11,838 shares of the company’s stock worth $197,000 after acquiring an additional 1,228 shares during the period. Fifth Third Bancorp bought a new stake in shares of Utz Brands during the 2nd quarter valued at about $44,000. Bank of New York Mellon Corp grew its stake in Utz Brands by 2.6% during the second quarter. Bank of New York Mellon Corp now owns 446,918 shares of the company’s stock worth $7,437,000 after purchasing an additional 11,492 shares during the period. Finally, Principal Financial Group Inc. bought a new stake in Utz Brands in the second quarter worth approximately $914,000. Institutional investors own 95.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on UTZ. Mizuho reduced their price objective on shares of Utz Brands from $24.00 to $21.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Piper Sandler raised their price target on shares of Utz Brands from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $21.22.

Insider Transactions at Utz Brands

In related news, insider Cc Collier Holdings, Llc sold 2,815,404 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $17.29, for a total transaction of $48,678,335.16. Following the sale, the insider now directly owns 496,038 shares in the company, valued at approximately $8,576,497.02. This represents a 85.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Cary Devore sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $17.32, for a total transaction of $519,600.00. Following the completion of the transaction, the executive vice president now directly owns 451,117 shares of the company’s stock, valued at approximately $7,813,346.44. This trade represents a 6.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.00% of the stock is currently owned by company insiders.

Utz Brands Stock Performance

UTZ stock opened at $15.84 on Monday. The business has a 50 day moving average of $17.02 and a 200-day moving average of $16.92. The firm has a market cap of $2.23 billion, a PE ratio of -83.37, a P/E/G ratio of 1.18 and a beta of 1.01. Utz Brands, Inc. has a 12-month low of $14.17 and a 12-month high of $20.04. The company has a quick ratio of 0.85, a current ratio of 1.21 and a debt-to-equity ratio of 0.56.

Utz Brands (NYSE:UTZ) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. The firm had revenue of $365.50 million during the quarter, compared to the consensus estimate of $363.98 million. Utz Brands had a positive return on equity of 7.25% and a negative net margin of 0.99%. The business’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.17 EPS. As a group, sell-side analysts expect that Utz Brands, Inc. will post 0.74 earnings per share for the current year.

Utz Brands Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th will be given a dividend of $0.061 per share. This is an increase from Utz Brands’s previous quarterly dividend of $0.06. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date is Monday, December 16th. Utz Brands’s dividend payout ratio is currently -126.32%.

Utz Brands Company 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.