DAVENPORT & Co LLC Sells 57,311 Shares of Utz Brands, Inc. (NYSE:UTZ)

DAVENPORT & Co LLC decreased its position in shares of Utz Brands, Inc. (NYSE:UTZ - Free Report) by 19.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 237,553 shares of the company's stock after selling 57,311 shares during the quarter. DAVENPORT & Co LLC owned approximately 0.17% of Utz Brands worth $3,345,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its position in shares of Utz Brands by 14.9% in the 4th quarter. JPMorgan Chase & Co. now owns 7,923,292 shares of the company's stock valued at $124,079,000 after buying an additional 1,025,656 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Utz Brands by 20.5% in the 4th quarter. Ameriprise Financial Inc. now owns 4,110,873 shares of the company's stock worth $64,376,000 after purchasing an additional 698,589 shares during the period. Champlain Investment Partners LLC boosted its stake in Utz Brands by 13.5% in the 4th quarter. Champlain Investment Partners LLC now owns 5,208,402 shares of the company's stock worth $81,564,000 after purchasing an additional 620,196 shares during the period. Alyeska Investment Group L.P. boosted its stake in Utz Brands by 157.9% in the 4th quarter. Alyeska Investment Group L.P. now owns 612,441 shares of the company's stock worth $9,591,000 after purchasing an additional 375,000 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Utz Brands by 9.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,400,014 shares of the company's stock worth $21,923,000 after purchasing an additional 116,376 shares during the period. Institutional investors and hedge funds own 95.97% of the company's stock.

Insider Buying and Selling

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

Analyst Ratings Changes

UTZ has been the topic of a number of recent research reports. 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. DA Davidson raised shares of Utz Brands from a "neutral" rating to a "buy" rating and set a $16.00 target price on the stock in a report on Thursday, April 24th. UBS Group decreased their price objective 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. Finally, Barclays decreased their price objective on shares of Utz Brands from $17.00 to $16.00 and set an "overweight" rating on the stock in a research note on Friday, June 27th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, Utz Brands currently has an average rating of "Moderate Buy" and a consensus target price of $17.69.

Utz Brands Trading Down 2.0%

UTZ stock traded down $0.27 during midday trading on Monday, hitting $12.91. The stock had a trading volume of 1,181,547 shares, compared to its average volume of 980,131. Utz Brands, Inc. has a 1-year low of $11.53 and a 1-year high of $18.89. The company has a current ratio of 1.32, a quick ratio of 0.91 and a debt-to-equity ratio of 0.61. The firm has a market cap of $1.83 billion, a P/E ratio of 40.35, a price-to-earnings-growth ratio of 1.57 and a beta of 1.14. The business has a fifty day moving average price of $12.90 and a two-hundred day moving average price of $13.52.

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, hitting the consensus estimate of $0.16. Utz Brands had a net margin of 1.94% and a return on equity of 8.05%. The company had revenue of $352.08 million during the quarter, compared to the consensus estimate of $345.44 million. During the same period in the previous year, the firm 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, sell-side analysts predict that Utz Brands, Inc. will post 0.85 earnings per share for the current fiscal year.

Utz Brands Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Monday, June 16th were paid a dividend of $0.061 per share. This is a boost from Utz Brands's previous quarterly dividend of $0.01. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend was Monday, June 16th. Utz Brands's dividend payout ratio is presently 75.00%.

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.