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

Truist Financial Corp increased its stake in Utz Brands, Inc. (NYSE:UTZ) by 11.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 26,917 shares of the company’s stock after acquiring an additional 2,667 shares during the period. Truist Financial Corp’s holdings in Utz Brands were worth $422,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of UTZ. Copeland Capital Management LLC raised its holdings in Utz Brands by 1.9% in the fourth quarter. Copeland Capital Management LLC now owns 3,117,478 shares of the company’s stock valued at $48,820,000 after buying an additional 59,429 shares during the period. State Street Corp raised its holdings in Utz Brands by 9.5% in the third quarter. State Street Corp now owns 1,758,961 shares of the company’s stock valued at $31,256,000 after buying an additional 152,868 shares during the period. Geode Capital Management LLC raised its holdings in Utz Brands by 3.2% in the third quarter. Geode Capital Management LLC now owns 1,548,231 shares of the company’s stock valued at $27,409,000 after buying an additional 47,320 shares during the period. Victory Capital Management Inc. raised its holdings 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 buying an additional 235,622 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Utz Brands by 5.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 571,161 shares of the company’s stock valued at $10,110,000 after buying an additional 28,484 shares during the period. 95.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on UTZ. Piper Sandler cut their price target on shares of Utz Brands from $24.00 to $20.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. DA Davidson cut their price target on shares of Utz Brands from $18.00 to $16.00 and set a “neutral” rating on the stock in a report on Monday, February 24th. Royal Bank of Canada cut their price target on shares of Utz Brands from $23.00 to $20.00 and set an “outperform” rating on the stock in a report on Monday, February 24th. Mizuho dropped their price objective on shares of Utz Brands from $21.00 to $19.00 and set an “outperform” rating on the stock in a research note on Monday, February 10th. Finally, Barclays dropped their price objective on shares of Utz Brands from $19.00 to $17.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $19.56.

Utz Brands Trading Down 0.8 %

UTZ opened at $13.76 on Wednesday. Utz Brands, Inc. has a 52-week low of $12.71 and a 52-week 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. The firm has a market capitalization of $1.94 billion, a P/E ratio of 76.42, a P/E/G ratio of 0.86 and a beta of 1.01. The firm’s 50 day moving average is $14.01 and its 200-day moving average is $16.04.

Utz Brands (NYSE:UTZ) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.03. Utz Brands had a net margin of 1.13% and a return on equity of 7.92%. The business had revenue of $341.05 million during the quarter, compared to the consensus estimate of $349.93 million. During the same quarter last year, the company earned $0.16 earnings per share. Analysts expect that Utz Brands, Inc. will post 0.85 EPS for the current fiscal year.

Utz Brands Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th were given a dividend of $0.061 per share. The ex-dividend date was Monday, December 16th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.77%. This is an increase from Utz Brands’s previous quarterly dividend of $0.06. Utz Brands’s dividend payout ratio (DPR) is presently 133.33%.

Insider Transactions at Utz Brands

In related news, CEO Howard A. Friedman purchased 3,525 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was acquired at an average price of $14.16 per share, with a total value of $49,914.00. Following the completion of the transaction, the chief executive officer now owns 265,729 shares of the company’s stock, valued at $3,762,722.64. This represents a 1.34 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 17.00% of the company’s stock.

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.