220,957 Shares in Utz Brands, Inc. $UTZ Purchased by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon purchased 220,957 Utz Brands shares during the second quarter, valued at approximately $1.7 million and representing about 0.15% of the company. Institutional investors and hedge funds collectively own 95.97% of UTZ.
• Analyst sentiment is mixed but leans toward caution: UTZ has a consensus “Hold” rating from analysts, with an average price target of $13.39; Barclays downgraded the stock to equal weight and other coverage included sell ratings.
• Utz reported quarterly EPS of $0.19, slightly beating estimates of $0.18, while revenue reached $371.8 million, up 1.4% year over year but below expectations. The company also maintains a quarterly dividend of $0.063 per share, or approximately $0.25 annually.

Bank of New York Mellon Corp bought a new stake in Utz Brands, Inc. (NYSE:UTZ - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 220,957 shares of the company's stock, valued at approximately $1,701,000. Bank of New York Mellon Corp owned about 0.15% of Utz Brands as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. NewEdge Advisors LLC purchased a new position in Utz Brands during the 2nd quarter worth approximately $25,000. Global Retirement Partners LLC boosted its holdings in shares of Utz Brands by 431.5% in the 4th quarter. Global Retirement Partners LLC now owns 3,343 shares of the company's stock valued at $35,000 after acquiring an additional 2,714 shares during the last quarter. Versant Capital Management Inc increased its stake in shares of Utz Brands by 363.5% in the second quarter. Versant Capital Management Inc now owns 6,086 shares of the company's stock worth $47,000 after acquiring an additional 4,773 shares during the period. Osaic Holdings Inc. increased its stake in shares of Utz Brands by 76.1% in the second quarter. Osaic Holdings Inc. now owns 3,756 shares of the company's stock worth $47,000 after acquiring an additional 1,623 shares during the period. Finally, Aster Capital Management DIFC Ltd raised its holdings in shares of Utz Brands by 134.0% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 6,125 shares of the company's stock worth $64,000 after purchasing an additional 3,507 shares during the last quarter. Institutional investors and hedge funds own 95.97% of the company's stock.

Analyst Upgrades and Downgrades

UTZ has been the subject of a number of research reports. UBS Group restated a "neutral" rating and set a $14.25 target price on shares of Utz Brands in a research report on Wednesday, July 22nd. Wall Street Zen downgraded Utz Brands from a "hold" rating to a "sell" rating in a research report on Saturday, July 25th. Barclays lowered Utz Brands from an "overweight" rating to an "equal weight" rating and set a $14.00 price objective for the company. in a research note on Tuesday, July 21st. Stephens set a $14.25 target price on Utz Brands in a research note on Tuesday, July 21st. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Utz Brands in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Utz Brands currently has a consensus rating of "Hold" and an average target price of $13.39.

Utz Brands Stock Performance

Shares of NYSE UTZ opened at $14.21 on Wednesday. The company's fifty day moving average price is $12.38 and its 200 day moving average price is $9.35. Utz Brands, Inc. has a 1 year low of $6.78 and a 1 year high of $14.27. The company has a market capitalization of $2.05 billion, a PE ratio of -43.08 and a beta of 0.76. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.69 and a current ratio of 1.06.

Utz Brands (NYSE:UTZ - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.19 earnings per share for the quarter, beating analysts' consensus estimates of $0.18 by $0.01. The company had revenue of $371.80 million during the quarter, compared to analysts' expectations of $374.18 million. Utz Brands had a negative net margin of 2.00% and a positive return on equity of 8.97%. The firm's revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.17 earnings per share. On average, research analysts predict that Utz Brands, Inc. will post 0.8 earnings per share for the current year.

Utz Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Monday, June 22nd were given a dividend of $0.063 per share. The ex-dividend date was Monday, June 22nd. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.8%. Utz Brands's dividend payout ratio (DPR) is -75.76%.

Utz Brands 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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