Utz Brands, Inc. $UTZ Shares Sold by Jennison Associates LLC

Key Points

• Jennison Associates LLC cut its Utz Brands stake by 23.9% in the first quarter, selling 437,091 shares and ending with 1,393,133 shares valued at about $11.0 million.
• Utz Brands agreed to be acquired by Intersnack in a $2.9 billion all-cash deal at $14.25 per share, which is the main driver behind the stock’s recent move.
• The takeover has drawn mixed reactions, including a shareholder-law investigation over whether the price is fair, while analysts’ views remain cautious overall with a consensus Hold rating.

Jennison Associates LLC reduced its position in shares of Utz Brands, Inc. (NYSE:UTZ - Free Report) by 23.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,393,133 shares of the company's stock after selling 437,091 shares during the period. Jennison Associates LLC owned about 0.97% of Utz Brands worth $11,034,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of UTZ. NewEdge Advisors LLC purchased a new stake in shares of Utz Brands in the 2nd quarter valued at $25,000. Global Retirement Partners LLC grew its position in Utz Brands by 431.5% in the 4th quarter. Global Retirement Partners LLC now owns 3,343 shares of the company's stock valued at $35,000 after acquiring an additional 2,714 shares in the last quarter. Farther Finance Advisors LLC grew its position in Utz Brands by 118.5% in the 4th quarter. Farther Finance Advisors LLC now owns 4,356 shares of the company's stock valued at $45,000 after acquiring an additional 2,362 shares in the last quarter. Osaic Holdings Inc. increased its stake 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 during the period. Finally, Aster Capital Management DIFC Ltd increased its stake in Utz Brands by 134.0% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 6,125 shares of the company's stock worth $64,000 after purchasing an additional 3,507 shares during the period. 95.97% of the stock is owned by institutional investors and hedge funds.

Key Utz Brands News

Here are the key news stories impacting Utz Brands this week:

• Positive Sentiment: Utz Brands agreed to be acquired by Intersnack in a $2.9 billion all-cash transaction at $14.25 per share, giving shareholders a large premium and sending the stock higher. Utz Brands to Be Taken Private in $2.9 Billion Deal
• Positive Sentiment: The buyout removes deal risk for now and signals Intersnack sees value in Utz’s brands and North American snack distribution, which can support investor confidence in the transaction closing. Utz Brands to be acquired by Intersnack Group in $2.9B transaction
• Neutral Sentiment: Barclays and Stephens reaffirmed “equal weight” ratings, with one price target near the deal price, but the takeover announcement has overshadowed the analyst notes. Benzinga coverage
• Negative Sentiment: A shareholder-law investigation has been launched to examine whether public investors are getting a fair price, which could create additional scrutiny and potential delays. Shareholder Alert

Wall Street Analyst Weigh In

Several research firms have recently commented on UTZ. TD Cowen lowered their price objective on shares of Utz Brands from $11.00 to $9.00 and set a "hold" rating for the company in a research note on Monday, April 20th. Stephens set a $14.25 target price on shares of Utz Brands in a research note on Tuesday. UBS Group cut their target price on shares of Utz Brands from $8.50 to $8.00 and set a "neutral" rating on the stock in a research note on Thursday, July 16th. DA Davidson upgraded shares of Utz Brands to a "strong-buy" rating in a report on Monday, July 6th. Finally, Jefferies Financial Group cut shares of Utz Brands to a "hold" rating and set a $14.25 price target for the company. in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $12.77.

Utz Brands Price Performance

Shares of NYSE UTZ opened at $14.11 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.14 and a quick ratio of 0.75. The company has a market cap of $2.03 billion, a price-to-earnings ratio of -141.04, a price-to-earnings-growth ratio of 2.72 and a beta of 0.82. The stock's 50-day moving average is $7.55 and its two-hundred day moving average is $8.38. Utz Brands, Inc. has a 1-year low of $6.78 and a 1-year high of $14.67.

Utz Brands (NYSE:UTZ - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.01. Utz Brands had a positive return on equity of 8.61% and a negative net margin of 0.58%.The business had revenue of $361.30 million during the quarter, compared to analysts' expectations of $361.76 million. During the same quarter last year, the business posted $0.16 EPS. The business's quarterly revenue was up 2.6% compared to the same quarter last year. Utz Brands has set its FY 2026 guidance at 0.771-0.795 EPS. Analysts forecast that Utz Brands, Inc. will post 0.78 EPS for the current fiscal year.

Utz Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Monday, June 22nd were paid a $0.063 dividend. The ex-dividend date was Monday, June 22nd. This represents a $0.25 dividend on an annualized basis and a yield of 1.8%. Utz Brands's payout ratio is currently -250.00%.

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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