Utz Brands, Inc. (NYSE:UTZ) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC raised its stake in Utz Brands, Inc. (NYSE:UTZ) by 3.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,548,231 shares of the company’s stock after buying an additional 47,320 shares during the quarter. Geode Capital Management LLC owned about 1.10% of Utz Brands worth $27,409,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. State Street Corp lifted its holdings in shares of Utz Brands by 9.5% in the 3rd quarter. State Street Corp now owns 1,758,961 shares of the company’s stock worth $31,256,000 after acquiring an additional 152,868 shares during the last quarter. Victory Capital Management Inc. raised its position in Utz Brands by 19.0% in the third quarter. Victory Capital Management Inc. now owns 1,474,047 shares of the company’s stock valued at $26,091,000 after purchasing an additional 235,622 shares during the period. Envestnet Asset Management Inc. lifted its stake in 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 purchasing an additional 14,647 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Utz Brands by 5.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 571,161 shares of the company’s stock worth $10,110,000 after buying an additional 28,484 shares during the period. Finally, Barclays PLC boosted its position in shares of Utz Brands by 21.4% during the third quarter. Barclays PLC now owns 555,477 shares of the company’s stock worth $9,831,000 after buying an additional 97,767 shares during the period. Hedge funds and other institutional investors own 95.97% of the company’s stock.

Insider Activity

In related news, insider Cc Collier Holdings, Llc sold 2,815,404 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $17.29, for a total value of $48,678,335.16. Following the completion of the sale, the insider now directly owns 496,038 shares of the company’s stock, valued at $8,576,497.02. This represents a 85.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $519,600.00. Following the transaction, the executive vice president now owns 451,117 shares in the company, valued at $7,813,346.44. This represents a 6.24 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 17.00% of the company’s stock.

Analyst Ratings Changes

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

Utz Brands Stock Performance

Shares of UTZ stock opened at $15.70 on Friday. The company has a market cap of $2.21 billion, a P/E ratio of -82.63, a PEG ratio of 1.18 and a beta of 1.01. The firm has a fifty day moving average price of $16.86 and a 200 day moving average price of $16.85. The company has a current ratio of 1.21, a quick ratio of 0.85 and a debt-to-equity ratio of 0.56. Utz Brands, Inc. has a 12 month low of $14.17 and a 12 month high of $20.04.

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

Utz Brands Increases Dividend

The business also recently disclosed 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 represents a $0.24 annualized dividend and a dividend yield of 1.55%. The ex-dividend date is Monday, December 16th. This is an increase from Utz Brands’s previous quarterly dividend of $0.06. Utz Brands’s payout ratio is currently -126.32%.

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.