Utz Brands, Inc. (NYSE:UTZ) Shares Sold by Jane Street Group LLC

Jane Street Group LLC trimmed its holdings in Utz Brands, Inc. (NYSE:UTZ) by 8.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 147,898 shares of the company’s stock after selling 13,040 shares during the quarter. Jane Street Group LLC owned about 0.10% of Utz Brands worth $2,618,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Principal Financial Group Inc. bought a new position in shares of Utz Brands in the second quarter worth $914,000. Kimelman & Baird LLC acquired a new position in Utz Brands during the 2nd quarter valued at about $907,000. Bahl & Gaynor Inc. raised its position in shares of Utz Brands by 45.1% during the 2nd quarter. Bahl & Gaynor Inc. now owns 239,961 shares of the company’s stock worth $3,993,000 after buying an additional 74,633 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Utz Brands by 22.0% during the 2nd quarter. Victory Capital Management Inc. now owns 1,238,425 shares of the company’s stock valued at $20,607,000 after purchasing an additional 223,462 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of Utz Brands during the 2nd quarter valued at $890,000. 95.97% of the stock is currently owned by institutional investors and hedge funds.

Utz Brands Stock Performance

Shares of UTZ stock opened at $15.84 on Friday. The company has a market capitalization of $2.23 billion, a price-to-earnings ratio of -83.37, a P/E/G ratio of 1.18 and a beta of 1.01. Utz Brands, Inc. has a 1-year low of $14.17 and a 1-year high of $20.04. The company has a current ratio of 1.21, a quick ratio of 0.85 and a debt-to-equity ratio of 0.56. The stock’s fifty day simple moving average is $17.02 and its 200-day simple moving average is $16.92.

Utz Brands (NYSE:UTZ) last released its earnings results on Thursday, October 31st. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.01. The company had revenue of $365.50 million for the quarter, compared to analysts’ expectations 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 previous year, the business posted $0.17 EPS. On average, 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 announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be given a $0.061 dividend. This is an increase from Utz Brands’s previous quarterly dividend of $0.06. The ex-dividend date is Monday, December 16th. This represents a $0.24 dividend on an annualized basis and a yield of 1.54%. Utz Brands’s dividend payout ratio is presently -126.32%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Utz Brands

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