Insider Selling: Utz Brands, Inc. (NYSE:UTZ) Major Shareholder Sells $7,464,322.60 in Stock

Utz Brands, Inc. (NYSE:UTZ) major shareholder Series U. Of Um Partners, Llc sold 397,885 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $18.76, for a total transaction of $7,464,322.60. The sale was disclosed in a document filed with the SEC, which is available through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Utz Brands Stock Down 0.7 %

Utz Brands stock opened at $18.42 on Friday. The firm has a market capitalization of $2.59 billion, a P/E ratio of -73.68, a P/E/G ratio of 1.32 and a beta of 0.97. The company has a 50-day simple moving average of $18.04 and a 200-day simple moving average of $16.34. Utz Brands, Inc. has a one year low of $11.17 and a one year high of $20.04. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.95 and a current ratio of 1.40.

Utz Brands (NYSE:UTZ) last posted its earnings results on Thursday, May 2nd. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.13 by $0.01. The firm had revenue of $346.50 million during the quarter, compared to analysts’ expectations of $346.99 million. Utz Brands had a negative net margin of 1.38% and a positive return on equity of 6.16%. Utz Brands’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.11 EPS. As a group, equities analysts expect that Utz Brands, Inc. will post 0.72 earnings per share for the current year.

Utz Brands Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 2nd. Shareholders of record on Monday, April 15th were given a dividend of $0.059 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend was Friday, April 12th. This is a positive change from Utz Brands’s previous quarterly dividend of $0.06. Utz Brands’s payout ratio is -96.00%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on UTZ. Needham & Company LLC increased their price target on shares of Utz Brands from $20.50 to $22.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Piper Sandler lifted their target price on Utz Brands from $18.00 to $21.00 and gave the stock an “overweight” rating in a research report on Friday, March 1st. DA Davidson started coverage on Utz Brands in a report on Friday, March 1st. They issued a “neutral” rating and a $20.00 price target for the company. Royal Bank of Canada raised their price objective on Utz Brands from $19.00 to $23.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Finally, Bank of America raised shares of Utz Brands from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $19.00 to $22.00 in a report on Thursday, March 14th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.42.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Orion Portfolio Solutions LLC raised its stake in shares of Utz Brands by 64.5% during the first quarter. Orion Portfolio Solutions LLC now owns 96,992 shares of the company’s stock valued at $1,789,000 after purchasing an additional 38,047 shares in the last quarter. ProShare Advisors LLC increased its stake in Utz Brands by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 12,944 shares of the company’s stock valued at $239,000 after buying an additional 1,017 shares during the period. Sei Investments Co. raised its position in shares of Utz Brands by 1.7% during the 1st quarter. Sei Investments Co. now owns 187,940 shares of the company’s stock worth $3,466,000 after buying an additional 3,068 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Utz Brands during the 1st quarter worth about $239,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Utz Brands in the 1st quarter worth approximately $196,000. Institutional investors own 95.97% of the company’s stock.

Utz Brands Company 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.