Bank of America Corp DE Sells 162,465 Shares of Utz Brands, Inc. (NYSE:UTZ)

Bank of America Corp DE decreased its position in Utz Brands, Inc. (NYSE:UTZ - Free Report) by 26.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 446,339 shares of the company's stock after selling 162,465 shares during the quarter. Bank of America Corp DE owned approximately 0.32% of Utz Brands worth $6,990,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Newton One Investments LLC bought a new position in Utz Brands during the fourth quarter worth about $26,000. Venturi Wealth Management LLC bought a new position in Utz Brands during the fourth quarter worth about $54,000. Tower Research Capital LLC TRC boosted its position in Utz Brands by 112.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,697 shares of the company's stock worth $121,000 after purchasing an additional 4,078 shares during the period. Freestone Grove Partners LP bought a new position in Utz Brands during the fourth quarter worth about $183,000. Finally, BNP Paribas Financial Markets bought a new position in Utz Brands during the fourth quarter worth about $196,000. Institutional investors own 95.97% of the company's stock.

Utz Brands Price Performance

UTZ traded up $0.16 on Friday, reaching $13.27. The company had a trading volume of 1,523,441 shares, compared to its average volume of 938,711. The business has a 50 day simple moving average of $13.09 and a 200 day simple moving average of $14.23. The company has a market cap of $1.88 billion, a price-to-earnings ratio of 73.72, a P/E/G ratio of 0.86 and a beta of 1.20. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.85 and a current ratio of 1.21. Utz Brands, Inc. has a 52-week low of $11.53 and a 52-week high of $18.89.

Utz Brands (NYSE:UTZ - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $0.16 earnings per share for the quarter, meeting analysts' consensus estimates of $0.16. The business had revenue of $352.08 million for the quarter, compared to the consensus estimate of $345.44 million. Utz Brands had a net margin of 1.13% and a return on equity of 7.92%. Utz Brands's quarterly revenue was up 1.6% on a year-over-year basis. During the same period last year, the firm posted $0.14 earnings per share. As a group, sell-side analysts anticipate that Utz Brands, Inc. will post 0.85 EPS for the current year.

Utz Brands Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Monday, April 7th were paid a $0.011 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date was Monday, April 7th. Utz Brands's dividend payout ratio is currently 75.00%.

Insiders Place Their Bets

In other Utz Brands news, insider Cc Collier Holdings, Llc sold 496,038 shares of Utz Brands stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $13.40, for a total transaction of $6,646,909.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director William Jr. Werzyn purchased 8,000 shares of the firm's stock in a transaction on Wednesday, May 7th. The shares were acquired at an average cost of $11.81 per share, for a total transaction of $94,480.00. Following the completion of the purchase, the director now directly owns 22,970 shares of the company's stock, valued at approximately $271,275.70. This represents a 53.44% increase in their position. The disclosure for this purchase can be found here. Insiders own 16.32% of the company's stock.

Wall Street Analyst Weigh In

UTZ has been the subject of a number of research reports. DA Davidson upgraded shares of Utz Brands from a "neutral" rating to a "buy" rating and set a $16.00 target price for the company in a research report on Thursday, April 24th. Royal Bank of Canada lowered their price target on shares of Utz Brands from $23.00 to $20.00 and set an "outperform" rating on the stock in a report on Monday, February 24th. Mizuho lowered their price target on shares of Utz Brands from $21.00 to $19.00 and set an "outperform" rating on the stock in a report on Monday, February 10th. UBS Group lowered their price target on shares of Utz Brands from $15.00 to $13.50 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Finally, TD Cowen downgraded shares of Utz Brands from a "buy" rating to a "hold" rating and lowered their price target for the stock from $17.00 to $15.00 in a report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $17.81.

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.