Utz Brands, Inc. $UTZ Shares Purchased by Bahl & Gaynor Inc.

Key Points

• Bahl & Gaynor Inc. increased its holdings in Utz Brands, Inc. by 221.7%, acquiring 630,149 additional shares, bringing its total to 914,325 shares worth approximately $12.87 million.
• Utz Brands recently declared a quarterly dividend of $0.061, up from the previous $0.01, resulting in an annualized dividend of $0.24 and a yield of 1.8%.
• The company reported a net margin of 1.27% in its latest earnings announcement, with quarterly revenue of $366.70 million, slightly surpassing analyst estimates.

Bahl & Gaynor Inc. raised its stake in Utz Brands, Inc. (NYSE:UTZ - Free Report) by 221.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 914,325 shares of the company's stock after acquiring an additional 630,149 shares during the quarter. Bahl & Gaynor Inc. owned approximately 0.65% of Utz Brands worth $12,874,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Ameriprise Financial Inc. grew its stake in Utz Brands by 38.0% in the 1st quarter. Ameriprise Financial Inc. now owns 5,671,757 shares of the company's stock worth $79,858,000 after acquiring an additional 1,560,884 shares during the period. Tributary Capital Management LLC acquired a new stake in shares of Utz Brands during the first quarter worth $11,697,000. Vanguard Group Inc. boosted its holdings in shares of Utz Brands by 7.2% during the first quarter. Vanguard Group Inc. now owns 7,439,869 shares of the company's stock worth $104,753,000 after purchasing an additional 501,374 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Utz Brands in the first quarter valued at $6,990,000. Finally, Alyeska Investment Group L.P. grew its position in shares of Utz Brands by 157.9% in the fourth quarter. Alyeska Investment Group L.P. now owns 612,441 shares of the company's stock valued at $9,591,000 after purchasing an additional 375,000 shares during the period. Hedge funds and other institutional investors own 95.97% of the company's stock.

Utz Brands Stock Performance

Utz Brands stock traded up $0.21 during mid-day trading on Wednesday, reaching $13.50. The company's stock had a trading volume of 663,473 shares, compared to its average volume of 1,184,307. The firm has a market cap of $1.91 billion, a price-to-earnings ratio of 64.26, a PEG ratio of 1.79 and a beta of 1.17. Utz Brands, Inc. has a twelve month low of $11.53 and a twelve month high of $18.89. The business has a 50 day moving average price of $13.35 and a 200-day moving average price of $13.35. The company has a current ratio of 1.29, a quick ratio of 0.87 and a debt-to-equity ratio of 0.62.

Utz Brands (NYSE:UTZ - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.19 by ($0.02). Utz Brands had a return on equity of 7.81% and a net margin of 1.27%.The business had revenue of $366.70 million during the quarter, compared to the consensus estimate of $360.55 million. During the same quarter in the previous year, the business posted $0.19 earnings per share. The company's quarterly revenue was up 2.9% compared to the same quarter last year. Utz Brands has set its FY 2025 guidance at 0.820-0.850 EPS. Sell-side analysts predict that Utz Brands, Inc. will post 0.85 EPS for the current fiscal year.

Utz Brands Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Monday, June 16th were given a $0.061 dividend. This is a boost from Utz Brands's previous quarterly dividend of $0.01. This represents a $0.24 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Monday, June 16th. Utz Brands's dividend payout ratio is 114.29%.

Analyst Upgrades and Downgrades

UTZ has been the topic of a number of research analyst reports. Barclays decreased their price target on Utz Brands from $17.00 to $16.00 and set an "overweight" rating on the stock in a research note on Friday, June 27th. UBS Group increased their price objective on shares of Utz Brands from $13.50 to $15.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $17.29.

Utz Brands 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.