PARK CIRCLE Co Purchases New Position in Utz Brands, Inc. (NYSE:UTZ)

PARK CIRCLE Co acquired a new position in shares of Utz Brands, Inc. (NYSE:UTZ) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 37,750 shares of the company’s stock, valued at approximately $591,000.

Several other institutional investors and hedge funds have also recently modified their holdings of UTZ. Newton One Investments LLC bought a new position in shares of Utz Brands during the fourth quarter valued at about $26,000. Venturi Wealth Management LLC bought a new position in shares of Utz Brands during the 4th quarter worth approximately $54,000. Moody National Bank Trust Division purchased a new position in shares of Utz Brands in the 4th quarter worth approximately $169,000. M&T Bank Corp grew its holdings in shares of Utz Brands by 18.9% in the fourth quarter. M&T Bank Corp now owns 12,678 shares of the company’s stock valued at $198,000 after acquiring an additional 2,011 shares in the last quarter. Finally, Ballentine Partners LLC purchased a new stake in shares of Utz Brands during the fourth quarter valued at approximately $220,000. 95.97% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Utz Brands

In other news, insider Cc Collier Holdings, Llc sold 496,038 shares of the company’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $13.40, for a total value of $6,646,909.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Howard A. Friedman acquired 3,525 shares of the firm’s 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 completion of the acquisition, the chief executive officer now owns 265,729 shares in the company, valued at $3,762,722.64. This represents a 1.34 % increase in their position. The disclosure for this purchase can be found here. Insiders own 16.32% of the company’s stock.

Wall Street Analysts Forecast Growth

UTZ has been the topic of several research analyst reports. DA Davidson cut their price objective on Utz Brands from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Monday, February 24th. Barclays reduced their price target on shares of Utz Brands from $19.00 to $17.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Royal Bank of Canada lowered their price objective on shares of Utz Brands from $23.00 to $20.00 and set an “outperform” rating on the stock in a research report on Monday, February 24th. TD Cowen reduced their target price on shares of Utz Brands from $21.00 to $17.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Finally, Mizuho lowered their price target on shares of Utz Brands from $21.00 to $19.00 and set an “outperform” rating on the stock in a report on Monday, February 10th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $19.25.

Utz Brands Stock Performance

NYSE UTZ opened at $14.12 on Friday. The company’s 50 day simple moving average is $13.70 and its two-hundred day simple moving average is $15.48. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.21 and a quick ratio of 0.85. Utz Brands, Inc. has a 1 year low of $12.71 and a 1 year high of $20.04. The stock has a market capitalization of $2.00 billion, a PE ratio of 78.42, a P/E/G ratio of 0.86 and a beta of 1.10.

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

Utz Brands Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Monday, April 7th will be paid a $0.011 dividend. The ex-dividend date of this dividend is Monday, April 7th. This represents a $0.04 dividend on an annualized basis and a yield of 0.31%. Utz Brands’s dividend payout ratio is presently 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.