Carnegie Capital Asset Management LLC purchased a new stake in Utz Brands, Inc. (NYSE:UTZ – Get Rating) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 9,893 shares of the company's stock, valued at approximately $216,000.
A number of other hedge funds also recently made changes to their positions in the stock. Bank of America Corp DE boosted its stake in shares of Utz Brands by 51.2% in the 1st quarter. Bank of America Corp DE now owns 505,906 shares of the company's stock valued at $7,476,000 after purchasing an additional 171,223 shares in the last quarter. Verition Fund Management LLC acquired a new stake in Utz Brands during the 1st quarter worth approximately $149,000. Quantbot Technologies LP boosted its position in Utz Brands by 156.9% during the 1st quarter. Quantbot Technologies LP now owns 25,184 shares of the company's stock worth $372,000 after buying an additional 15,382 shares during the period. Royal Bank of Canada boosted its position in Utz Brands by 5.6% during the 1st quarter. Royal Bank of Canada now owns 34,037 shares of the company's stock worth $503,000 after buying an additional 1,804 shares during the period. Finally, Guggenheim Capital LLC boosted its position in Utz Brands by 25.8% during the 1st quarter. Guggenheim Capital LLC now owns 56,697 shares of the company's stock worth $838,000 after buying an additional 11,615 shares during the period. 45.14% of the stock is currently owned by institutional investors and hedge funds.
Get Utz Brands alerts:Analyst Ratings Changes
Several equities research analysts recently commented on the stock. Credit Suisse Group lifted their target price on shares of Utz Brands to $19.00 in a research report on Monday, August 15th. The Goldman Sachs Group lowered shares of Utz Brands from a "buy" rating to a "neutral" rating and raised their price target for the stock from $16.00 to $21.00 in a report on Friday, August 12th. Finally, Stephens raised their price target on shares of Utz Brands from $16.00 to $19.00 and gave the stock an "equal weight" rating in a report on Friday, August 12th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Utz Brands has an average rating of "Hold" and a consensus price target of $19.83.
Utz Brands Stock Performance
NYSE:UTZ opened at $15.60 on Friday. The company has a fifty day moving average of $16.60 and a 200-day moving average of $15.00. The firm has a market capitalization of $2.19 billion, a P/E ratio of 130.00, a P/E/G ratio of 3.47 and a beta of 0.70. The company has a quick ratio of 1.06, a current ratio of 1.58 and a debt-to-equity ratio of 0.62. Utz Brands, Inc. has a twelve month low of $12.06 and a twelve month high of $19.98.Utz Brands (NYSE:UTZ – Get Rating) last released its quarterly earnings data on Thursday, August 11th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.01. The company had revenue of $350.10 million during the quarter, compared to analyst estimates of $335.39 million. Utz Brands had a net margin of 0.85% and a return on equity of 5.19%. Utz Brands's revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.13 EPS. As a group, sell-side analysts anticipate that Utz Brands, Inc. will post 0.49 EPS for the current year.
Utz Brands Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 6th. Stockholders of record on Monday, September 19th will be paid a $0.054 dividend. The ex-dividend date of this dividend is Friday, September 16th. This represents a $0.22 annualized dividend and a dividend yield of 1.38%. Utz Brands's dividend payout ratio is currently 183.33%.
Insider Activity
In other news, Director Roger K. Deromedi sold 15,678 shares of Utz Brands stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $19.64, for a total value of $307,915.92. Following the completion of the sale, the director now owns 3,277,988 shares in the company, valued at approximately $64,379,684.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 17.32% of the stock is currently owned by company insiders.
Utz Brands Company Profile
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Utz Brands, Inc operates as a snack food manufacturing company. It offers a range of salty snacks, including potato chips, kettle chips, tortilla chips, pretzels, cheese snacks, veggie snacks, pork skins, pub/party mixes, salsa and queso, ready-to-eat popcorn, and other snacks under the Utz, Zapp's, ON THE BORDER, Golden Flake, Good Health, Boulder Canyon, Hawaiian, TGIF, TORTIYAHS!, and other brand names.
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