Utz Brands, Inc. $UTZ Shares Sold by DAVENPORT & Co LLC

Key Points

• DAVENPORT & Co LLC reduced its holdings in Utz Brands by 41.0% during Q2, selling 97,505 shares, leaving them with 140,048 shares valued at approximately $1.76 million.
• Utz Brands reported $0.17 earnings per share in its latest earnings release, missing the consensus estimate of $0.19, while its quarterly revenue increased by 2.9% year-over-year.
• The company recently declared a quarterly dividend of $0.061, amounting to an annualized dividend yield of 2.0%, with a current payout ratio of 114.29%.

DAVENPORT & Co LLC cut its holdings in Utz Brands, Inc. (NYSE:UTZ - Free Report) by 41.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 140,048 shares of the company's stock after selling 97,505 shares during the quarter. DAVENPORT & Co LLC owned about 0.10% of Utz Brands worth $1,758,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd purchased a new position in Utz Brands during the first quarter worth about $32,000. Harbor Investment Advisory LLC raised its holdings in Utz Brands by 37.6% during the second quarter. Harbor Investment Advisory LLC now owns 5,481 shares of the company's stock worth $69,000 after purchasing an additional 1,497 shares in the last quarter. First Horizon Advisors Inc. boosted 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 valued at $111,000 after buying an additional 2,441 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of Utz Brands in the first quarter valued at approximately $144,000. Finally, US Bancorp DE boosted its stake in shares of Utz Brands by 2,462.5% in the first quarter. US Bancorp DE now owns 13,171 shares of the company's stock valued at $185,000 after buying an additional 12,657 shares in the last quarter. 95.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on UTZ. Barclays decreased their price target on Utz Brands from $17.00 to $16.00 and set an "overweight" rating on the stock in a research note on Friday, June 27th. UBS Group decreased their price target on Utz Brands from $15.00 to $13.50 and set a "neutral" rating on the stock in a research note on Wednesday. Finally, Weiss Ratings restated a "sell (d+)" rating on shares of Utz Brands in a research note on Wednesday. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $17.07.

Insider Activity at Utz Brands

In other news, Director Christina Choi sold 5,703 shares of the stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $13.63, for a total value of $77,731.89. Following the sale, the director directly owned 33,710 shares in the company, valued at $459,467.30. This represents a 14.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 16.32% of the stock is owned by corporate insiders.

Utz Brands Trading Up 1.8%

Shares of UTZ opened at $12.19 on Friday. The company has a current ratio of 1.29, a quick ratio of 0.87 and a debt-to-equity ratio of 0.62. The firm's 50-day moving average is $12.88 and its two-hundred day moving average is $13.14. Utz Brands, Inc. has a twelve month low of $11.53 and a twelve month high of $18.29. The firm has a market capitalization of $1.73 billion, a P/E ratio of 58.05, a PEG ratio of 1.61 and a beta of 1.02.

Utz Brands (NYSE:UTZ - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.02). Utz Brands had a return on equity of 7.81% and a net margin of 1.27%.The company had revenue of $366.70 million for the quarter, compared to analyst estimates of $360.55 million. During the same quarter in the previous year, the company posted $0.19 earnings per share. The company's quarterly revenue was up 2.9% compared to the same quarter last year. Utz Brands has set its FY 2025 guidance at 0.820-0.850 EPS. On average, research analysts predict that Utz Brands, Inc. will post 0.85 earnings per share for the current fiscal year.

Utz Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Monday, September 15th were given a $0.061 dividend. The ex-dividend date was Monday, September 15th. This represents a $0.24 annualized dividend and a dividend yield of 2.0%. Utz Brands's dividend payout ratio is currently 114.29%.

Utz Brands Company 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.

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