Two Sigma Investments LP Acquires Shares of 32,684 Utz Brands, Inc. (NYSE:UTZ)

Two Sigma Investments LP acquired a new position in shares of Utz Brands, Inc. (NYSE:UTZ - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 32,684 shares of the company's stock, valued at approximately $512,000.

Other hedge funds have also modified their holdings of the company. Venturi Wealth Management LLC acquired a new stake in shares of Utz Brands during the fourth quarter valued at approximately $54,000. Tower Research Capital LLC TRC grew its position in Utz Brands by 112.7% during the 4th 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 in the last quarter. Freestone Grove Partners LP acquired a new stake in Utz Brands during the 4th quarter valued at $183,000. BNP Paribas Financial Markets purchased a new stake in shares of Utz Brands in the fourth quarter valued at $196,000. Finally, M&T Bank Corp boosted its position in shares of Utz Brands by 18.9% in the fourth quarter. M&T Bank Corp now owns 12,678 shares of the company's stock worth $198,000 after buying an additional 2,011 shares during the period. 95.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on UTZ shares. TD Cowen downgraded Utz Brands from a "buy" rating to a "hold" rating and dropped their target price for the company from $17.00 to $15.00 in a report on Tuesday, April 22nd. DA Davidson raised shares of Utz Brands from a "neutral" rating to a "buy" rating and set a $16.00 price objective on the stock in a research report on Thursday, April 24th. Royal Bank of Canada reduced their target price on shares of Utz Brands from $23.00 to $20.00 and set an "outperform" rating for the company in a research note on Monday, February 24th. Finally, UBS Group dropped their price target on shares of Utz Brands from $15.00 to $13.50 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. Two investment 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, Utz Brands has an average rating of "Moderate Buy" and an average price target of $17.81.

Utz Brands Stock Performance

NYSE:UTZ traded down $0.33 during midday trading on Friday, reaching $13.08. The stock had a trading volume of 668,120 shares, compared to its average volume of 951,094. The stock has a market capitalization of $1.85 billion, a P/E ratio of 72.67, a PEG ratio of 0.86 and a beta of 1.18. Utz Brands, Inc. has a 1-year low of $11.53 and a 1-year high of $18.89. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.21 and a quick ratio of 0.85. The firm's fifty day simple moving average is $13.02 and its 200-day simple moving average is $14.05.

Utz Brands (NYSE:UTZ - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.16 EPS for the quarter, hitting analysts' consensus estimates of $0.16. Utz Brands had a return on equity of 7.92% and a net margin of 1.13%. The business had revenue of $352.08 million for the quarter, compared to analyst estimates of $345.44 million. During the same period in the previous year, the company posted $0.14 earnings per share. The firm's revenue for the quarter was up 1.6% on a year-over-year basis. On average, equities research analysts forecast that Utz Brands, Inc. will post 0.85 EPS for the current fiscal year.

Utz Brands Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Monday, June 16th will be issued a $0.061 dividend. The ex-dividend date is Monday, June 16th. This is an increase from Utz Brands's previous quarterly dividend of $0.01. This represents a $0.24 dividend on an annualized basis and a yield of 1.87%. Utz Brands's dividend payout ratio is 75.00%.

Insiders Place Their Bets

In other news, Director Timothy Brown acquired 5,000 shares of the firm's stock in a transaction dated Monday, May 5th. The shares were bought at an average price of $11.96 per share, with a total value of $59,800.00. Following the acquisition, the director now owns 67,573 shares of the company's stock, valued at $808,173.08. This trade represents a 7.99% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William Jr. Werzyn acquired 8,000 shares of the stock in a transaction dated Wednesday, May 7th. The shares were purchased at an average price of $11.81 per share, for a total transaction of $94,480.00. Following the completion of the transaction, the director now owns 22,970 shares of the company's stock, valued at $271,275.70. This trade represents a 53.44% increase in their position. The disclosure for this purchase can be found here. Company insiders own 16.32% of the company's stock.

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.