22,580 Shares in Utz Brands, Inc. $UTZ Bought by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC has acquired a new stake in Utz Brands, Inc., purchasing 22,580 shares valued at approximately $319,000 in the first quarter.
• Several other institutional investors have increased their positions in Utz Brands, leading to institutional ownership now at 95.97% of the company's stock.
• Utz Brands reported quarterly earnings of $0.17 per share, missing estimates of $0.19, but achieved a revenue of $366.70 million, slightly above expectations.

Hsbc Holdings PLC bought a new position in shares of Utz Brands, Inc. (NYSE:UTZ - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 22,580 shares of the company's stock, valued at approximately $319,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Janney Montgomery Scott LLC bought a new stake in shares of Utz Brands during the first quarter worth about $196,000. Vanguard Group Inc. increased its position 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 acquiring an additional 501,374 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its holdings in Utz Brands by 250.8% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 89,083 shares of the company's stock worth $1,395,000 after purchasing an additional 63,692 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Utz Brands during the fourth quarter worth about $339,000. Finally, Two Sigma Investments LP purchased a new position in Utz Brands during the fourth quarter worth about $512,000. 95.97% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Christina Choi sold 5,703 shares of the stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $13.63, for a total value of $77,731.89. Following the sale, the director directly owned 33,710 shares of the company's stock, valued at approximately $459,467.30. This represents a 14.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 16.32% of the company's stock.

Utz Brands Stock Performance

Shares of UTZ stock traded up $0.20 during trading on Friday, reaching $13.85. 577,245 shares of the company's stock traded hands, compared to its average volume of 722,143. The company has a market capitalization of $1.96 billion, a P/E ratio of 65.97, a PEG ratio of 1.83 and a beta of 1.03. The company has a current ratio of 1.29, a quick ratio of 0.87 and a debt-to-equity ratio of 0.62. The firm's 50-day moving average is $13.45 and its 200 day moving average is $13.34. Utz Brands, Inc. has a 1 year low of $11.53 and a 1 year high of $18.89.

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

Utz Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Monday, September 15th will be given a dividend of $0.061 per share. The ex-dividend date is Monday, September 15th. This represents a $0.24 annualized dividend and a dividend yield of 1.8%. Utz Brands's dividend payout ratio is currently 114.29%.

Analyst Ratings Changes

Several research firms recently weighed in on UTZ. Barclays cut their price target on shares of Utz Brands from $17.00 to $16.00 and set an "overweight" rating on the stock in a report on Friday, June 27th. UBS Group boosted their target price on shares of Utz Brands from $13.50 to $15.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $17.29.

About Utz Brands

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.