AMI Asset Management Corp Has $1.17 Million Holdings in Utz Brands, Inc. (NYSE:UTZ)

AMI Asset Management Corp lessened its stake in shares of Utz Brands, Inc. (NYSE:UTZ) by 8.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 74,777 shares of the company’s stock after selling 6,496 shares during the period. AMI Asset Management Corp’s holdings in Utz Brands were worth $1,171,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Victory Capital Management Inc. raised its holdings in Utz Brands by 19.0% during the 3rd quarter. Victory Capital Management Inc. now owns 1,474,047 shares of the company’s stock worth $26,091,000 after purchasing an additional 235,622 shares during the last quarter. State Street Corp increased its position in shares of Utz Brands by 9.5% during the third 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 in the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Utz Brands in the 2nd quarter worth about $1,981,000. Barclays PLC lifted its position in Utz Brands by 21.4% in the 3rd quarter. Barclays PLC now owns 555,477 shares of the company’s stock valued at $9,831,000 after acquiring an additional 97,767 shares in the last quarter. Finally, NFJ Investment Group LLC acquired a new position in Utz Brands during the 3rd quarter valued at about $1,651,000. Institutional investors own 95.97% of the company’s stock.

Insider Transactions at Utz Brands

In other Utz Brands news, EVP Cary Devore sold 30,000 shares of the stock in a transaction 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 sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Cc Collier Holdings, Llc sold 2,815,404 shares of Utz Brands stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $17.29, for a total value of $48,678,335.16. Following the completion of the transaction, the insider now owns 496,038 shares of the company’s stock, valued at approximately $8,576,497.02. This trade represents a 85.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 17.00% of the company’s stock.

Analysts Set New Price Targets

UTZ has been the topic of a number of recent research reports. Mizuho dropped their target price 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 dropped their price objective on Utz Brands from $24.00 to $20.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. TD Cowen cut their price objective on shares of Utz Brands from $21.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Finally, Barclays lowered their target price on shares of Utz Brands from $19.00 to $17.00 and set an “overweight” rating for the company in a report on Friday. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Utz Brands currently has a consensus rating of “Moderate Buy” and an average target price of $20.20.

Utz Brands Stock Up 2.5 %

UTZ opened at $14.26 on Tuesday. The company’s 50-day moving average price is $16.02 and its two-hundred day moving average price is $16.52. 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, Inc. has a twelve month low of $13.36 and a twelve month high of $20.04. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of -75.07, a PEG ratio of 0.91 and a beta of 1.03.

Utz Brands (NYSE:UTZ) last issued its earnings results on Thursday, October 31st. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $365.50 million for the quarter, compared to analyst estimates of $363.98 million. During the same period in the previous year, the company posted $0.17 earnings per share. The business’s revenue was down 1.7% on a year-over-year basis. As a group, equities analysts expect that Utz Brands, Inc. will post 0.74 earnings per share for the current year.

Utz Brands Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th were given a dividend of $0.061 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend was Monday, December 16th. This is a positive change from Utz Brands’s previous quarterly dividend of $0.06. Utz Brands’s dividend payout ratio (DPR) 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.