Natixis Advisors LLC Invests $602,000 in Utz Brands, Inc. (NYSE:UTZ)

Key Points

• Natixis Advisors LLC acquired a new stake in Utz Brands, Inc. worth approximately $602,000 by purchasing 42,725 shares in the first quarter.
• Utz Brands recently increased its quarterly dividend to $0.061 per share, resulting in a yield of 2.0%, reflecting a positive change from the previous dividend.
• Utz Brands reported earnings of $0.17 per share, which missed the consensus estimate of $0.19, despite revenues being up 2.9% compared to the same quarter last year.

Natixis Advisors LLC bought a new stake in shares of Utz Brands, Inc. (NYSE:UTZ - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 42,725 shares of the company's stock, valued at approximately $602,000.

Several other large investors have also recently made changes to their positions in UTZ. Simon Quick Advisors LLC increased its holdings in Utz Brands by 9.7% in the 1st quarter. Simon Quick Advisors LLC now owns 15,967 shares of the company's stock worth $225,000 after acquiring an additional 1,411 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Utz Brands by 4.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,280 shares of the company's stock worth $584,000 after purchasing an additional 1,596 shares in the last quarter. LPL Financial LLC lifted its holdings in Utz Brands by 4.7% in the 4th quarter. LPL Financial LLC now owns 39,879 shares of the company's stock worth $624,000 after purchasing an additional 1,789 shares in the last quarter. Diversify Wealth Management LLC raised its position in Utz Brands by 11.5% during the first quarter. Diversify Wealth Management LLC now owns 18,632 shares of the company's stock valued at $249,000 after purchasing an additional 1,918 shares during the period. Finally, Outfitter Financial LLC raised its position in Utz Brands by 3.8% during the first quarter. Outfitter Financial LLC now owns 54,200 shares of the company's stock valued at $763,000 after purchasing an additional 1,970 shares during the period. 95.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on UTZ. TD Cowen downgraded Utz Brands from a "buy" rating to a "hold" rating and decreased their price objective for the company from $17.00 to $15.00 in a research report on Tuesday, April 22nd. Barclays decreased their price objective on Utz Brands from $17.00 to $16.00 and set an "overweight" rating on the stock in a research report on Friday, June 27th. UBS Group upped their price objective on Utz Brands from $13.50 to $15.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Finally, DA Davidson upgraded 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. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $17.29.

Utz Brands Trading Up 2.6%

Shares of NYSE:UTZ traded up $0.34 during trading hours on Wednesday, hitting $13.20. 1,233,586 shares of the company's stock traded hands, compared to its average volume of 1,139,958. Utz Brands, Inc. has a 1 year low of $11.53 and a 1 year high of $18.89. The business has a fifty day moving average price of $13.42 and a 200-day moving average price of $13.37. The firm has a market capitalization of $1.87 billion, a P/E ratio of 62.86, a price-to-earnings-growth ratio of 1.73 and a beta of 1.17. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.29 and a quick ratio of 0.87.

Utz Brands (NYSE:UTZ - Get Free Report) last issued its 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 company had revenue of $366.70 million for the quarter, compared to analysts' expectations of $360.55 million. Utz Brands had a return on equity of 7.81% and a net margin of 1.27%. The business's revenue was up 2.9% compared to the same quarter last year. During the same period last year, the business posted $0.19 earnings per share. Equities analysts expect that Utz Brands, Inc. will post 0.85 earnings per share for the current year.

Utz Brands Increases Dividend

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

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.