Keybank National Association OH Grows Stake in Utz Brands, Inc. (NYSE:UTZ)

Posted by on Apr 21st, 2023

Keybank National Association OH lifted its stake in Utz Brands, Inc. (NYSE:UTZ – Get Rating) by 16.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,721 shares of the company’s stock after buying an additional 3,161 shares during the period. Keybank National Association OH’s holdings in Utz Brands were worth $360,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Tower Research Capital LLC TRC boosted its holdings in Utz Brands by 236.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 6,309 shares of the company’s stock worth $95,000 after acquiring an additional 4,432 shares during the period. Sei Investments Co. acquired a new stake in Utz Brands during the 1st quarter valued at $102,000. Point72 Hong Kong Ltd purchased a new stake in Utz Brands during the 3rd quarter worth $111,000. Captrust Financial Advisors lifted its holdings in Utz Brands by 10.9% in the 2nd quarter. Captrust Financial Advisors now owns 9,146 shares of the company’s stock worth $126,000 after buying an additional 899 shares in the last quarter. Finally, Ensign Peak Advisors Inc purchased a new position in Utz Brands in the 3rd quarter valued at about $146,000. Institutional investors and hedge funds own 46.66% of the company’s stock.

Analysts Set New Price Targets

UTZ has been the topic of several recent analyst reports. The Goldman Sachs Group boosted their price target on Utz Brands from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, March 3rd. Credit Suisse Group reaffirmed a “neutral” rating and issued a $19.00 target price on shares of Utz Brands in a research report on Thursday, March 30th.

Insiders Place Their Bets

In other news, major shareholder Chinh Chu sold 1,500,000 shares of Utz Brands stock in a transaction dated Friday, March 17th. The shares were sold at an average price of $16.66, for a total value of $24,990,000.00. Following the completion of the transaction, the insider now directly owns 3,648,380 shares of the company’s stock, valued at approximately $60,782,010.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 17.32% of the stock is owned by corporate insiders.

Utz Brands Stock Performance

Shares of Utz Brands stock opened at $17.84 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.07 and a current ratio of 1.57. Utz Brands, Inc. has a 1 year low of $12.06 and a 1 year high of $19.98. The firm’s 50-day simple moving average is $16.85 and its 200-day simple moving average is $16.65. The firm has a market cap of $2.50 billion, a PE ratio of -1,784.00, a price-to-earnings-growth ratio of 3.14 and a beta of 0.81.

Utz Brands (NYSE:UTZ – Get Rating) last announced its quarterly earnings data on Thursday, March 2nd. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.03. The firm had revenue of $354.70 million for the quarter, compared to analysts’ expectations of $336.71 million. Utz Brands had a positive return on equity of 5.37% and a negative net margin of 0.03%. Utz Brands’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.11 earnings per share. Equities analysts forecast that Utz Brands, Inc. will post 0.54 earnings per share for the current fiscal year.

Utz Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 4th. Shareholders of record on Monday, April 17th will be paid a dividend of $0.057 per share. The ex-dividend date of this dividend is Friday, April 14th. This represents a $0.23 annualized dividend and a yield of 1.28%. Utz Brands’s payout ratio is -2,200.00%.

Utz Brands Profile

(Get Rating)

UTZ Brands, Inc manufactures, markets, and distributes branded snacking products. It offers a broad range of salty snacks, including potato chips, pretzels, cheese, veggie, other snacks and pork skins. The firm’s brands include Utz, Zapp’s, Golden Flake, Good Health, Boulder Canyon and Hawaiian. The company was founded in 1921 and is headquartered in Hanover, PA.

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Institutional Ownership by Quarter for Utz Brands (NYSE:UTZ)

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