1,878,175 Shares in Utz Brands, Inc. $UTZ Acquired by Diamond Hill Capital Management LLC Investment Advisor

Key Points

• Diamond Hill Capital Management acquired 1.88 million Utz Brands shares worth approximately $14.5 million, giving it a 1.31% stake. Institutional investors collectively own 95.97% of the company.
• Utz reported quarterly EPS of $0.19, slightly exceeding estimates, while revenue of $371.8 million fell short of forecasts but increased 1.4% year over year.
• Analyst sentiment is broadly neutral: the stock has an average “Hold” rating and a $13.39 price target, despite recently trading near its one-year high at $14.16.

Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in shares of Utz Brands, Inc. (NYSE:UTZ - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,878,175 shares of the company's stock, valued at approximately $14,462,000. Diamond Hill Capital Management LLC Investment Advisor owned 1.31% of Utz Brands as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of UTZ. Bank of New York Mellon Corp acquired a new stake in Utz Brands in the second quarter worth $1,701,000. Versant Capital Management Inc grew its holdings in shares of Utz Brands by 363.5% in the 2nd quarter. Versant Capital Management Inc now owns 6,086 shares of the company's stock valued at $47,000 after buying an additional 4,773 shares during the period. Bank of America Corp DE increased its position in shares of Utz Brands by 26.7% in the 1st quarter. Bank of America Corp DE now owns 796,586 shares of the company's stock valued at $6,309,000 after buying an additional 167,958 shares in the last quarter. Royal Bank of Canada raised its stake in Utz Brands by 61.4% during the 1st quarter. Royal Bank of Canada now owns 937,060 shares of the company's stock worth $7,421,000 after buying an additional 356,428 shares during the period. Finally, Quantinno Capital Management LP raised its stake in Utz Brands by 140.9% during the 1st quarter. Quantinno Capital Management LP now owns 291,034 shares of the company's stock worth $2,305,000 after buying an additional 170,211 shares during the period. Institutional investors own 95.97% of the company's stock.

Utz Brands Stock Performance

UTZ opened at $14.16 on Monday. The business's 50-day moving average price is $10.00 and its two-hundred day moving average price is $8.87. Utz Brands, Inc. has a 1 year low of $6.78 and a 1 year high of $14.19. The company has a market capitalization of $2.04 billion, a price-to-earnings ratio of -42.92 and a beta of 0.73. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.06 and a quick ratio of 0.69.

Utz Brands (NYSE:UTZ - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.19 EPS for the quarter, beating analysts' consensus estimates of $0.18 by $0.01. The company had revenue of $371.80 million for the quarter, compared to analyst estimates of $374.18 million. Utz Brands had a positive return on equity of 8.97% and a negative net margin of 2.00%.The company's quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.17 earnings per share. Equities analysts expect that Utz Brands, Inc. will post 0.8 EPS for the current fiscal year.

Utz Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Monday, June 22nd were paid a $0.063 dividend. The ex-dividend date was Monday, June 22nd. This represents a $0.25 annualized dividend and a yield of 1.8%. Utz Brands's payout ratio is presently -75.76%.

Analyst Upgrades and Downgrades

UTZ has been the subject of a number of research analyst reports. Stephens set a $14.25 target price on Utz Brands in a research note on Tuesday, July 21st. Wall Street Zen cut Utz Brands from a "hold" rating to a "sell" rating in a report on Saturday, July 25th. UBS Group reiterated a "neutral" rating and issued a $14.25 price objective on shares of Utz Brands in a research report on Wednesday, July 22nd. Jefferies Financial Group downgraded shares of Utz Brands from a "strong-buy" rating to a "hold" rating and set a $14.25 target price on the stock. in a report on Tuesday, July 21st. Finally, Piper Sandler reaffirmed a "neutral" rating and issued a $14.25 price target (up from $10.00) on shares of Utz Brands in a research note on Thursday, July 23rd. One analyst has rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $13.39.

Utz Brands Company Profile

Utz Brands, Inc is a leading U.S. manufacturer and distributor of salty snack foods, offering a wide range of products including potato chips, pretzels, cheese snacks, popcorn and tortilla chips. Headquartered in Hanover, Pennsylvania, the company markets its snacks under several well-known brands and serves grocery, mass merchandise, club, convenience and online retailers throughout the United States.

Founded in 1921 by Bill and Salie Utz as a small country store operation, the business expanded gradually through direct delivery to local customers and sales to regional grocers.

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