Peak6 LLC Purchases Shares of 18,671 Utz Brands, Inc. (NYSE:UTZ)

Peak6 LLC bought a new stake in Utz Brands, Inc. (NYSE:UTZ) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 18,671 shares of the company’s stock, valued at approximately $292,000.

Other large investors have also recently added to or reduced their stakes in the company. Newton One Investments LLC purchased a new stake in Utz Brands during the fourth quarter valued at about $26,000. Venturi Wealth Management LLC purchased a new position in Utz Brands in the fourth quarter valued at approximately $54,000. Moody National Bank Trust Division purchased a new position in shares of Utz Brands in the 4th quarter valued at $169,000. M&T Bank Corp boosted its position in Utz Brands by 18.9% during the 4th quarter. M&T Bank Corp now owns 12,678 shares of the company’s stock worth $198,000 after purchasing an additional 2,011 shares during the period. Finally, Ballentine Partners LLC acquired a new position in shares of Utz Brands during the fourth quarter worth about $220,000. 95.97% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Utz Brands news, CEO Howard A. Friedman bought 3,525 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were purchased at an average cost of $14.16 per share, for a total transaction of $49,914.00. Following the transaction, the chief executive officer now directly owns 265,729 shares in the company, valued at $3,762,722.64. The trade was a 1.34 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Cc Collier Holdings, Llc sold 496,038 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $13.40, for a total transaction of $6,646,909.20. The disclosure for this sale can be found here. 16.32% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on UTZ shares. TD Cowen dropped their target price on Utz Brands from $21.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Royal Bank of Canada decreased their target price on shares of Utz Brands from $23.00 to $20.00 and set an “outperform” rating for the company in a research note on Monday, February 24th. Mizuho dropped their price target on shares of Utz Brands from $21.00 to $19.00 and set an “outperform” rating on the stock in a research note on Monday, February 10th. Piper Sandler cut their price objective on shares of Utz Brands from $24.00 to $20.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Finally, DA Davidson cut their price target on Utz Brands from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Monday, February 24th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $19.25.

Utz Brands Price Performance

Shares of UTZ opened at $13.79 on Tuesday. The company has a current ratio of 1.21, a quick ratio of 0.85 and a debt-to-equity ratio of 0.56. Utz Brands, Inc. has a 52 week low of $12.15 and a 52 week high of $20.04. The stock has a 50 day moving average of $13.65 and a 200-day moving average of $15.09. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of 76.61, a PEG ratio of 0.86 and a beta of 1.10.

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

Utz Brands Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Monday, April 7th will be paid a dividend of $0.011 per share. The ex-dividend date is Monday, April 7th. This represents a $0.04 dividend on an annualized basis and a yield of 0.32%. Utz Brands’s payout ratio is currently 133.33%.

About Utz Brands

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.