Tributary Capital Management LLC Purchases Shares of 830,722 Utz Brands, Inc. (NYSE:UTZ)

Tributary Capital Management LLC purchased a new position in Utz Brands, Inc. (NYSE:UTZ - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 830,722 shares of the company's stock, valued at approximately $11,697,000. Tributary Capital Management LLC owned about 0.59% of Utz Brands at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in UTZ. First Horizon Advisors Inc. increased its stake in shares of Utz Brands by 44.8% in the first quarter. First Horizon Advisors Inc. now owns 7,887 shares of the company's stock worth $111,000 after buying an additional 2,441 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Utz Brands by 112.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,697 shares of the company's stock worth $121,000 after buying an additional 4,078 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in shares of Utz Brands in the first quarter worth $144,000. Parallel Advisors LLC increased its stake in shares of Utz Brands by 38.9% in the first quarter. Parallel Advisors LLC now owns 12,904 shares of the company's stock worth $182,000 after buying an additional 3,616 shares during the last quarter. Finally, Freestone Grove Partners LP bought a new stake in shares of Utz Brands in the fourth quarter worth $183,000. Institutional investors own 95.97% of the company's stock.

Insider Transactions at Utz Brands

In related news, Director William Jr. Werzyn bought 8,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The stock was purchased at an average price of $11.81 per share, for a total transaction of $94,480.00. Following the transaction, the director directly owned 22,970 shares of the company's stock, valued at approximately $271,275.70. This represents a 53.44% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Timothy Brown bought 5,000 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The stock was bought at an average price of $11.96 per share, with a total value of $59,800.00. Following the transaction, the director directly owned 67,573 shares in the company, valued at $808,173.08. This represents a 7.99% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 16.32% of the company's stock.

Utz Brands Stock Performance

Shares of Utz Brands stock traded down $0.04 during trading on Friday, hitting $14.07. 838,312 shares of the stock were exchanged, compared to its average volume of 985,862. The stock's fifty day moving average is $13.11 and its 200 day moving average is $13.45. The stock has a market cap of $1.99 billion, a PE ratio of 43.97, a P/E/G ratio of 1.66 and a beta of 1.14. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.91 and a current ratio of 1.32. Utz Brands, Inc. has a 12 month low of $11.53 and a 12 month high of $18.89.

Utz Brands (NYSE:UTZ - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. The business had revenue of $352.08 million during the quarter, compared to analyst estimates of $345.44 million. Utz Brands had a net margin of 1.94% and a return on equity of 8.05%. The company's quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $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 Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Monday, June 16th were given a $0.061 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend was Monday, June 16th. This is a positive change from Utz Brands's previous quarterly dividend of $0.01. Utz Brands's dividend payout ratio is currently 75.00%.

Analysts Set New Price Targets

UTZ has been the subject of several recent research reports. TD Cowen lowered shares of Utz Brands from a "buy" rating to a "hold" rating and lowered their target price for the company from $17.00 to $15.00 in a research note on Tuesday, April 22nd. 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 note on Thursday, April 24th. Barclays lowered their target price on shares of Utz Brands from $17.00 to $16.00 and set an "overweight" rating for the company in a research note on Friday, June 27th. Finally, 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. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Utz Brands presently has a consensus rating of "Moderate Buy" and an average price target of $17.88.

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.