T. Rowe Price Investment Management Inc. Sells 114,507 Shares of Utz Brands, Inc. (NYSE:UTZ)

T. Rowe Price Investment Management Inc. decreased its holdings in Utz Brands, Inc. (NYSE:UTZ - Free Report) by 1.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,085,913 shares of the company's stock after selling 114,507 shares during the period. T. Rowe Price Investment Management Inc. owned about 4.32% of Utz Brands worth $95,306,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of UTZ. Barclays PLC grew its position in Utz Brands by 21.4% in the 3rd quarter. Barclays PLC now owns 555,477 shares of the company's stock worth $9,831,000 after purchasing an additional 97,767 shares during the period. Geode Capital Management LLC grew its holdings in shares of Utz Brands by 3.2% in the third quarter. Geode Capital Management LLC now owns 1,548,231 shares of the company's stock worth $27,409,000 after acquiring an additional 47,320 shares during the period. Diversified Trust Co increased its position in Utz Brands by 25.5% during the fourth quarter. Diversified Trust Co now owns 56,308 shares of the company's stock valued at $882,000 after acquiring an additional 11,438 shares during the last quarter. Moody National Bank Trust Division bought a new position in Utz Brands in the fourth quarter valued at about $169,000. Finally, Ballentine Partners LLC purchased a new position in Utz Brands in the fourth quarter worth about $220,000. 95.97% of the stock is owned by hedge funds and other institutional investors.

Utz Brands Price Performance

UTZ stock traded down $0.05 during trading on Wednesday, hitting $13.32. 292,400 shares of the company's stock traded hands, compared to its average volume of 873,551. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.85 and a current ratio of 1.21. Utz Brands, Inc. has a 52 week low of $12.15 and a 52 week high of $20.04. The business has a fifty day simple moving average of $13.64 and a 200 day simple moving average of $14.95. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of 74.00, a P/E/G ratio of 0.86 and a beta of 1.10.

Utz Brands (NYSE:UTZ - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.19 by $0.03. The business had revenue of $341.05 million for the quarter, compared to the consensus estimate of $349.93 million. Utz Brands had a return on equity of 7.92% and a net margin of 1.13%. During the same period in the prior year, the business posted $0.16 earnings per share. As a group, research analysts expect that Utz Brands, Inc. will post 0.85 EPS for the current fiscal year.

Utz Brands Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Monday, April 7th were issued a dividend of $0.011 per share. The ex-dividend date of this dividend was Monday, April 7th. This represents a $0.04 annualized dividend and a yield of 0.33%. Utz Brands's payout ratio is 133.33%.

Insider Buying and Selling

In related news, insider Cc Collier Holdings, Llc sold 496,038 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $13.40, for a total value of $6,646,909.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Howard A. Friedman bought 3,525 shares of the firm's stock in a transaction on Monday, February 24th. The shares were purchased at an average cost of $14.16 per share, with a total value of $49,914.00. Following the completion of the transaction, the chief executive officer now owns 265,729 shares in the company, valued at $3,762,722.64. This represents a 1.34 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 16.32% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently commented on UTZ. Barclays reduced their price objective on Utz Brands from $19.00 to $17.00 and set an "overweight" rating for the company in a research note on Friday, January 17th. Royal Bank of Canada decreased their price objective on Utz Brands from $23.00 to $20.00 and set an "outperform" rating on the stock in a research note on Monday, February 24th. UBS Group started coverage on Utz Brands in a research note on Wednesday, April 23rd. They set a "neutral" rating and a $15.00 price objective for the company. Piper Sandler dropped their price target on shares of Utz Brands from $24.00 to $20.00 and set an "overweight" rating for the company in a research report on Thursday, January 16th. Finally, TD Cowen lowered Utz Brands from a "buy" rating to a "hold" rating and cut their price target for the stock from $17.00 to $15.00 in a research note on Tuesday, April 22nd. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $18.56.

Utz Brands 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.