Baltimore Washington Financial Advisors Inc. grew its stake in shares of Utz Brands, Inc. (NYSE:UTZ) by 7.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 99,959 shares of the company’s stock after acquiring an additional 6,646 shares during the period. Baltimore Washington Financial Advisors Inc. owned about 0.07% of Utz Brands worth $2,178,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of Utz Brands by 244.7% during the 2nd quarter. BlackRock Inc. now owns 3,620,129 shares of the company’s stock worth $78,883,000 after purchasing an additional 2,569,882 shares in the last quarter. Morgan Stanley increased its stake in shares of Utz Brands by 40.2% during the 1st quarter. Morgan Stanley now owns 6,488,961 shares of the company’s stock worth $160,861,000 after purchasing an additional 1,860,191 shares in the last quarter. Select Equity Group L.P. purchased a new position in shares of Utz Brands during the 1st quarter worth approximately $15,650,000. Millennium Management LLC increased its stake in shares of Utz Brands by 139.0% during the 1st quarter. Millennium Management LLC now owns 777,033 shares of the company’s stock worth $19,263,000 after purchasing an additional 451,871 shares in the last quarter. Finally, Rockefeller Capital Management L.P. increased its stake in shares of Utz Brands by 137.9% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 539,282 shares of the company’s stock worth $11,750,000 after purchasing an additional 312,586 shares in the last quarter. Institutional investors own 41.21% of the company’s stock.
In other Utz Brands news, Director John W. Altmeyer acquired 5,000 shares of the stock in a transaction that occurred on Monday, August 16th. The stock was acquired at an average price of $18.67 per share, with a total value of $93,350.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 17.32% of the stock is currently owned by insiders.
Utz Brands (NYSE:UTZ) last issued its quarterly earnings data on Wednesday, August 11th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). The firm had revenue of $297.92 million during the quarter, compared to analyst estimates of $286.69 million. Utz Brands had a positive return on equity of 3.55% and a negative net margin of 1.68%. On average, analysts anticipate that Utz Brands, Inc. will post 0.6 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 11th. Stockholders of record on Monday, September 20th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.13%. The ex-dividend date is Friday, September 17th.
Several research firms have commented on UTZ. Stephens lowered their target price on shares of Utz Brands from $27.00 to $23.00 and set an “overweight” rating for the company in a research note on Friday, August 13th. Zacks Investment Research cut shares of Utz Brands from a “hold” rating to a “sell” rating in a research note on Wednesday, June 30th. Finally, The Goldman Sachs Group lowered their target price on shares of Utz Brands from $25.00 to $20.50 and set a “neutral” rating for the company in a research note on Tuesday, August 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Utz Brands currently has a consensus rating of “Buy” and a consensus target price of $25.96.
About Utz Brands
UTZ Brands, Inc manufactures, markets, and distributes branded snacking products. It offers a broad range of salty snacks, including potato chips, pretzels, cheese snacks, veggie snacks, pork skins and other snacks. The firm’s brands include Utz, Zapp’s, Golden Flake, Good Health, Boulder Canyon and Hawaiian.
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