XTX Topco Ltd Acquires New Holdings in Utz Brands, Inc. (NYSE:UTZ)

Key Points

• XTX Topco Ltd has acquired a new stake in Utz Brands, purchasing 27,789 shares valued at approximately $391,000.
• Utz Brands recently increased its quarterly dividend to $0.061 per share, signaling a commitment to returning value to shareholders.
• The company's stock has been given a consensus rating of "Moderate Buy" with an average price target of $17.29 by analysts.

XTX Topco Ltd purchased a new stake in Utz Brands, Inc. (NYSE:UTZ - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 27,789 shares of the company's stock, valued at approximately $391,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Simon Quick Advisors LLC raised its position in Utz Brands by 9.7% during the first quarter. Simon Quick Advisors LLC now owns 15,967 shares of the company's stock worth $225,000 after acquiring an additional 1,411 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Utz Brands by 4.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,280 shares of the company's stock worth $584,000 after acquiring an additional 1,596 shares during the last quarter. LPL Financial LLC raised its position in Utz Brands by 4.7% during the fourth quarter. LPL Financial LLC now owns 39,879 shares of the company's stock worth $624,000 after acquiring an additional 1,789 shares during the last quarter. Diversify Wealth Management LLC raised its position in Utz Brands by 11.5% during the first quarter. Diversify Wealth Management LLC now owns 18,632 shares of the company's stock worth $249,000 after acquiring an additional 1,918 shares during the last quarter. Finally, Outfitter Financial LLC raised its position in Utz Brands by 3.8% during the first quarter. Outfitter Financial LLC now owns 54,200 shares of the company's stock worth $763,000 after acquiring an additional 1,970 shares during the last quarter. Institutional investors and hedge funds own 95.97% of the company's stock.

Utz Brands Stock Up 3.0%

NYSE UTZ traded up $0.37 during trading on Tuesday, reaching $12.84. The company's stock had a trading volume of 1,259,166 shares, compared to its average volume of 1,216,128. 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 stock has a market capitalization of $1.82 billion, a PE ratio of 61.16, a PEG ratio of 1.72 and a beta of 1.17. The business has a 50-day moving average price of $13.44 and a 200-day moving average price of $13.37. Utz Brands, Inc. has a 1-year low of $11.53 and a 1-year high of $18.89.

Utz Brands (NYSE:UTZ - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.17 EPS for the quarter, missing analysts' consensus estimates of $0.19 by ($0.02). Utz Brands had a net margin of 1.27% and a return on equity of 7.81%. The firm had revenue of $366.70 million during the quarter, compared to the consensus estimate of $360.55 million. During the same period in the prior year, the business earned $0.19 EPS. The company's revenue for the quarter was up 2.9% compared to the same quarter last year. On average, research analysts forecast that Utz Brands, Inc. will post 0.85 earnings per share for the current fiscal year.

Utz Brands Increases Dividend

The business also recently announced 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. This represents a $0.24 dividend on an annualized basis and a yield of 1.9%. This is an increase from Utz Brands's previous quarterly dividend of $0.01. The ex-dividend date of this dividend was Monday, June 16th. Utz Brands's payout ratio is presently 114.29%.

Analysts Set New Price Targets

UTZ has been the topic of a number of recent research reports. 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 research report on Thursday, April 24th. UBS Group boosted their target price on shares of Utz Brands from $13.50 to $15.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. TD Cowen cut shares of Utz Brands from a "buy" rating to a "hold" rating and reduced their target price for the stock from $17.00 to $15.00 in a research report on Tuesday, April 22nd. Finally, Barclays reduced their target price on shares of Utz Brands from $17.00 to $16.00 and set an "overweight" rating on the stock in a research report on Friday, June 27th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $17.29.

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.