Utz Brands, Inc. (NYSE:UTZ – Get Free Report)’s stock price fell 3.9% during trading on Tuesday . The company traded as low as $12.78 and last traded at $12.73. 150,851 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 1,209,491 shares. The stock had previously closed at $13.25.
Wall Street Analysts Forecast Growth
A number of research firms have commented on UTZ. Barclays reduced their target price on Utz Brands from $19.00 to $17.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Piper Sandler dropped their price objective on Utz Brands from $24.00 to $20.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. Mizuho dropped their price objective on Utz Brands from $24.00 to $21.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. Finally, TD Cowen dropped their price objective on Utz Brands from $21.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $20.20.
Get Our Latest Report on Utz Brands
Utz Brands Price Performance
Utz Brands Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th were given a dividend of $0.061 per share. This is a boost from Utz Brands’s previous quarterly dividend of $0.06. This represents a $0.24 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend was Monday, December 16th. Utz Brands’s dividend payout ratio is currently -126.32%.
Insider Transactions at Utz Brands
In other Utz Brands news, insider Cc Collier Holdings, Llc sold 2,815,404 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $17.29, for a total transaction of $48,678,335.16. Following the completion of the sale, the insider now directly owns 496,038 shares of the company’s stock, valued at $8,576,497.02. This represents a 85.02 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 17.00% of the company’s stock.
Hedge Funds Weigh In On Utz Brands
A number of large investors have recently modified their holdings of the business. Renaissance Technologies LLC acquired a new stake in shares of Utz Brands in the 2nd quarter worth approximately $890,000. Creative Planning grew its holdings in shares of Utz Brands by 8.2% in the 2nd quarter. Creative Planning now owns 37,155 shares of the company’s stock worth $618,000 after acquiring an additional 2,802 shares during the period. Truist Financial Corp grew its holdings in shares of Utz Brands by 20.8% in the 2nd quarter. Truist Financial Corp now owns 24,209 shares of the company’s stock worth $403,000 after acquiring an additional 4,176 shares during the period. SG Americas Securities LLC grew its holdings in shares of Utz Brands by 279.2% in the 3rd quarter. SG Americas Securities LLC now owns 23,510 shares of the company’s stock worth $416,000 after acquiring an additional 17,310 shares during the period. Finally, nVerses Capital LLC acquired a new stake in shares of Utz Brands in the 3rd quarter worth approximately $142,000. 95.97% of the stock is owned by hedge funds and other institutional investors.
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.
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