The Manufacturers Life Insurance Company Sells 1,249 Shares of Utz Brands, Inc. (NYSE:UTZ)

The Manufacturers Life Insurance Company reduced its position in Utz Brands, Inc. (NYSE:UTZ) by 3.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,458 shares of the company’s stock after selling 1,249 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Utz Brands were worth $573,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in UTZ. Comerica Bank boosted its stake in Utz Brands by 5.4% in the first quarter. Comerica Bank now owns 16,491 shares of the company’s stock valued at $304,000 after buying an additional 848 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of Utz Brands by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 12,944 shares of the company’s stock valued at $239,000 after purchasing an additional 1,017 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its position 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 purchasing an additional 1,228 shares in the last quarter. Diversified Trust Co lifted its stake in Utz Brands by 4.5% in the 2nd quarter. Diversified Trust Co now owns 44,870 shares of the company’s stock valued at $747,000 after purchasing an additional 1,925 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Utz Brands by 4.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 57,879 shares of the company’s stock valued at $1,068,000 after buying an additional 2,540 shares in the last quarter. 95.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on UTZ. Needham & Company LLC reiterated a “buy” rating and set a $22.00 price target on shares of Utz Brands in a report on Friday, August 2nd. Barclays lowered their target price on 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 research note on Wednesday, August 21st. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.36.

Utz Brands Stock Performance

Shares of UTZ stock opened at $17.52 on Wednesday. Utz Brands, Inc. has a 12 month low of $11.50 and a 12 month high of $20.04. The firm has a market capitalization of $2.47 billion, a PE ratio of -70.08, a price-to-earnings-growth ratio of 1.14 and a beta of 1.01. The firm has a fifty day simple moving average of $17.31 and a two-hundred day simple moving average of $17.29. The company has a current ratio of 1.69, a quick ratio of 1.21 and a debt-to-equity ratio of 0.57.

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

Utz Brands Announces Dividend

The business also recently declared a None dividend, which was paid on Thursday, October 3rd. Investors of record on Monday, September 16th were given a $0.011 dividend. This represents a yield of 1.3%. The ex-dividend date of this dividend was Monday, September 16th. Utz Brands’s payout ratio is currently -92.00%.

Insider Buying and Selling at Utz Brands

In other news, Director Bruce John Lindeman purchased 4,000 shares of the business’s stock in a transaction that occurred on 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 acquisition, the director now owns 42,480 shares in the company, valued at $684,352.80. This trade represents a 0.00 % 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 this link. Company 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.