Neo Ivy Capital Management Buys Shares of 15,920 Utz Brands, Inc. (NYSE:UTZ)

Neo Ivy Capital Management purchased a new position in Utz Brands, Inc. (NYSE:UTZ) during the third quarter, HoldingsChannel.com reports. The fund purchased 15,920 shares of the company’s stock, valued at approximately $282,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Picton Mahoney Asset Management bought a new stake in Utz Brands in the second quarter worth $5,422,000. Victory Capital Management Inc. raised its position in shares of Utz Brands by 19.0% in the 3rd quarter. Victory Capital Management Inc. now owns 1,474,047 shares of the company’s stock worth $26,091,000 after purchasing an additional 235,622 shares during the last quarter. State Street Corp boosted its stake in Utz Brands by 9.5% in the 3rd quarter. State Street Corp now owns 1,758,961 shares of the company’s stock worth $31,256,000 after purchasing an additional 152,868 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in Utz Brands during the 2nd quarter valued at about $1,981,000. Finally, Barclays PLC increased its stake in Utz Brands by 21.4% during the 3rd quarter. Barclays PLC now owns 555,477 shares of the company’s stock valued at $9,831,000 after purchasing an additional 97,767 shares in the last quarter. Hedge funds and other institutional investors own 95.97% of the company’s stock.

Utz Brands Price Performance

NYSE UTZ opened at $17.20 on Thursday. The stock has a market capitalization of $2.42 billion, a price-to-earnings ratio of -90.53, a PEG ratio of 1.16 and a beta of 1.01. Utz Brands, Inc. has a 1-year low of $13.76 and a 1-year high of $20.04. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.21 and a quick ratio of 0.85. The business’s fifty day moving average price is $17.05 and its 200-day moving average price is $16.99.

Utz Brands (NYSE:UTZ) last posted its earnings results on Thursday, October 31st. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. The company had revenue of $365.50 million for the quarter, compared to the consensus estimate of $363.98 million. Utz Brands had a positive return on equity of 7.25% and a negative net margin of 0.99%. Utz Brands’s revenue was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.17 earnings per share. On average, equities analysts predict that Utz Brands, Inc. will post 0.74 earnings per share for the current year.

Utz Brands Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be given a $0.061 dividend. The ex-dividend date is Monday, December 16th. This is an increase from Utz Brands’s previous quarterly dividend of $0.06. This represents a $0.24 annualized dividend and a yield of 1.42%. Utz Brands’s dividend payout ratio (DPR) is presently -126.32%.

Insider Transactions at Utz Brands

In other Utz Brands news, insider Cc Collier Holdings, Llc sold 2,815,404 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $17.29, for a total transaction of $48,678,335.16. Following the sale, the insider now owns 496,038 shares in the company, valued at approximately $8,576,497.02. This trade represents a 85.02 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Cary Devore sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $17.32, for a total transaction of $519,600.00. Following the completion of the transaction, the executive vice president now owns 451,117 shares of the company’s stock, valued at approximately $7,813,346.44. The trade was a 6.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 17.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on UTZ. Mizuho cut their price target on shares of Utz Brands from $24.00 to $21.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. Piper Sandler boosted their price target on Utz Brands from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Utz Brands currently has an average rating of “Moderate Buy” and an average price target of $21.22.

Utz Brands 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.