Utz Brands, Inc. $UTZ Shares Bought by Cetera Investment Advisers

Key Points

• Cetera Investment Advisers increased its Utz Brands stake by 480.4% in the first quarter, bringing its holdings to 240,723 shares worth approximately $1.9 million. Institutional investors collectively own 95.97% of UTZ.
• Utz Brands reported quarterly EPS of $0.19, topping estimates by $0.01, while revenue rose 1.4% year over year to $371.8 million but fell short of expectations.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and a $13.39 price target. Shares opened at $14.15, near the company’s 52-week high, and Utz maintains a quarterly dividend of $0.063 per share.

Cetera Investment Advisers raised its position in Utz Brands, Inc. (NYSE:UTZ - Free Report) by 480.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 240,723 shares of the company's stock after buying an additional 199,250 shares during the period. Cetera Investment Advisers owned about 0.17% of Utz Brands worth $1,907,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. NewEdge Advisors LLC acquired a new stake in shares of Utz Brands during the 2nd quarter valued at about $25,000. Global Retirement Partners LLC raised its holdings in Utz Brands by 431.5% in the 4th quarter. Global Retirement Partners LLC now owns 3,343 shares of the company's stock worth $35,000 after purchasing an additional 2,714 shares during the period. Osaic Holdings Inc. boosted its position in Utz Brands by 76.1% during the second quarter. Osaic Holdings Inc. now owns 3,756 shares of the company's stock worth $47,000 after purchasing an additional 1,623 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in Utz Brands by 118.5% in the fourth quarter. Farther Finance Advisors LLC now owns 4,356 shares of the company's stock valued at $45,000 after purchasing an additional 2,362 shares during the period. Finally, Aster Capital Management DIFC Ltd grew its holdings in Utz Brands by 134.0% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 6,125 shares of the company's stock valued at $64,000 after purchasing an additional 3,507 shares during the period. Institutional investors and hedge funds own 95.97% of the company's stock.

Utz Brands Trading Up 0.3%

Shares of Utz Brands stock opened at $14.15 on Monday. The stock has a market cap of $2.04 billion, a P/E ratio of -42.89 and a beta of 0.73. The stock's 50 day simple moving average is $9.29 and its 200-day simple moving average is $8.74. Utz Brands, Inc. has a 1-year low of $6.78 and a 1-year high of $14.19. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.06 and a quick ratio of 0.69.

Utz Brands (NYSE:UTZ - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.18 by $0.01. Utz Brands had a positive return on equity of 8.97% and a negative net margin of 2.00%.The firm had revenue of $371.80 million during the quarter, compared to analysts' expectations of $374.18 million. During the same quarter last year, the firm earned $0.17 earnings per share. The business's revenue for the quarter was up 1.4% on a year-over-year basis. Analysts predict that Utz Brands, Inc. will post 0.79 EPS for the current fiscal year.

Utz Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Monday, June 22nd were paid a $0.063 dividend. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.8%. Utz Brands's dividend payout ratio (DPR) is -75.76%.

Analyst Upgrades and Downgrades

UTZ has been the subject of several research analyst reports. Zacks Research raised Utz Brands from a "strong sell" rating to a "hold" rating in a research note on Monday, April 20th. TD Cowen dropped their price target on shares of Utz Brands from $11.00 to $9.00 and set a "hold" rating on the stock in a research note on Monday, April 20th. Wall Street Zen lowered shares of Utz Brands from a "hold" rating to a "sell" rating in a report on Saturday, July 25th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Utz Brands in a report on Wednesday, June 24th. Finally, BTIG Research lowered shares of Utz Brands from a "buy" rating to a "hold" rating in a research report on Monday, July 27th. One investment analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $13.39.

Utz Brands Profile

Utz Brands, Inc is a leading U.S. manufacturer and distributor of salty snack foods, offering a wide range of products including potato chips, pretzels, cheese snacks, popcorn and tortilla chips. Headquartered in Hanover, Pennsylvania, the company markets its snacks under several well-known brands and serves grocery, mass merchandise, club, convenience and online retailers throughout the United States.

Founded in 1921 by Bill and Salie Utz as a small country store operation, the business expanded gradually through direct delivery to local customers and sales to regional grocers.

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