GW&K Investment Management LLC boosted its holdings in shares of Utz Brands, Inc. (NYSE:UTZ - Free Report) by 19.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,531,986 shares of the company's stock after acquiring an additional 252,165 shares during the period. GW&K Investment Management LLC owned approximately 1.08% of Utz Brands worth $21,570,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its holdings in shares of Utz Brands by 14.9% in the fourth quarter. JPMorgan Chase & Co. now owns 7,923,292 shares of the company's stock valued at $124,079,000 after purchasing an additional 1,025,656 shares in the last quarter. Tributary Capital Management LLC acquired a new stake in shares of Utz Brands in the first quarter valued at about $11,697,000. Ameriprise Financial Inc. increased its position in shares of Utz Brands by 20.5% in the fourth quarter. Ameriprise Financial Inc. now owns 4,110,873 shares of the company's stock valued at $64,376,000 after acquiring an additional 698,589 shares during the last quarter. Champlain Investment Partners LLC increased its position in shares of Utz Brands by 13.5% in the fourth quarter. Champlain Investment Partners LLC now owns 5,208,402 shares of the company's stock valued at $81,564,000 after acquiring an additional 620,196 shares during the last quarter. Finally, Alyeska Investment Group L.P. increased its position in shares of Utz Brands by 157.9% in the fourth quarter. Alyeska Investment Group L.P. now owns 612,441 shares of the company's stock valued at $9,591,000 after acquiring an additional 375,000 shares during the last quarter. 95.97% of the stock is currently owned by institutional investors.
Utz Brands Stock Performance
Shares of Utz Brands stock traded down $0.22 on Friday, hitting $14.24. The stock had a trading volume of 124,354 shares, compared to its average volume of 1,202,025. Utz Brands, Inc. has a twelve month low of $11.53 and a twelve month high of $18.89. The business's 50 day moving average is $13.28 and its two-hundred day moving average is $13.42. The company has a quick ratio of 0.91, a current ratio of 1.32 and a debt-to-equity ratio of 0.61. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of 44.53, a price-to-earnings-growth ratio of 1.67 and a beta of 1.14.
Utz Brands (NYSE:UTZ - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.16 EPS for the quarter, meeting the consensus estimate of $0.16. Utz Brands had a return on equity of 8.05% and a net margin of 1.94%. The company had revenue of $352.08 million for the quarter, compared to the consensus estimate of $345.44 million. During the same quarter in the prior year, the business earned $0.14 earnings per share. The firm's revenue for the quarter was up 1.6% on a year-over-year basis. Analysts forecast that Utz Brands, Inc. will post 0.85 EPS for the current year.
Utz Brands Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Monday, June 16th were given a dividend of $0.061 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $0.24 dividend on an annualized basis and a yield of 1.71%. This is an increase from Utz Brands's previous quarterly dividend of $0.01. Utz Brands's dividend payout ratio is currently 75.00%.
Insider Buying and Selling
In related news, Director Timothy Brown purchased 5,000 shares of Utz Brands stock in a transaction that occurred on Monday, May 5th. The shares were acquired at an average price of $11.96 per share, with a total value of $59,800.00. Following the completion of the transaction, the director directly owned 67,573 shares of the company's stock, valued at $808,173.08. This represents a 7.99% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William Jr. Werzyn purchased 8,000 shares of Utz Brands stock in a transaction that occurred on Wednesday, May 7th. The shares were bought at an average cost 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 $271,275.70. This represents a 53.44% 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.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on the company. Barclays lowered their target price 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. TD Cowen downgraded 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 report on Tuesday, April 22nd. UBS Group lifted their target price 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 raised Utz Brands from a "neutral" rating to a "buy" rating and set a $16.00 target price on the stock in a research report on Thursday, April 24th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $17.88.
Check Out Our Latest Report on UTZ
About Utz Brands
(
Free Report)
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.
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