Clearbridge Investments LLC Reduces Position in Utz Brands, Inc. (NYSE:UTZ)

Clearbridge Investments LLC decreased its stake in shares of Utz Brands, Inc. (NYSE:UTZ) by 18.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 715,495 shares of the company’s stock after selling 158,629 shares during the period. Clearbridge Investments LLC owned 0.51% of Utz Brands worth $11,906,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Fifth Third Bancorp purchased a new position in Utz Brands during the second quarter worth $44,000. Canada Pension Plan Investment Board acquired a new stake in shares of Utz Brands during the second quarter worth $80,000. SG Americas Securities LLC acquired a new stake in shares of Utz Brands during the second quarter worth $103,000. Waterloo Capital L.P. acquired a new stake in shares of Utz Brands during the fourth quarter worth $169,000. Finally, XTX Topco Ltd acquired a new stake in shares of Utz Brands during the second quarter worth $185,000. Hedge funds and other institutional investors own 95.97% of the company’s stock.

Insiders Place Their Bets

In related news, Director Bruce John Lindeman acquired 4,000 shares of Utz Brands stock in a transaction on Monday, August 5th. The shares were bought at an average price of $16.11 per share, for a total transaction of $64,440.00. Following the completion of the purchase, the director now directly owns 42,480 shares in the company, valued at $684,352.80. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 17.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on UTZ. Barclays decreased their price objective on Utz Brands from $23.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday, July 19th. Piper Sandler restated an “overweight” rating and set a $22.00 price objective on shares of Utz Brands in a report on Wednesday, August 21st. Finally, Needham & Company LLC restated a “buy” rating and set a $22.00 price objective on shares of Utz Brands in a report on Friday, August 2nd. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $20.36.

Utz Brands Price Performance

Shares of Utz Brands stock opened at $17.07 on Friday. Utz Brands, Inc. has a twelve month low of $11.17 and a twelve month high of $20.04. The stock has a market capitalization of $2.40 billion, a P/E ratio of -68.28, a PEG ratio of 1.18 and a beta of 1.01. The company has a current ratio of 1.69, a quick ratio of 1.21 and a debt-to-equity ratio of 0.57. The business’s fifty day moving average price is $17.10 and its 200 day moving average price is $17.37.

Utz Brands (NYSE:UTZ) last issued its earnings results on Thursday, August 1st. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. The firm had revenue of $356.20 million for the quarter, compared to analysts’ expectations of $356.23 million. Utz Brands had a return on equity of 6.79% and a net margin of 0.29%. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.13 earnings per share. As a group, research analysts anticipate that Utz Brands, Inc. will post 0.74 earnings per share for the current year.

Utz Brands Dividend Announcement

The business also recently disclosed a None dividend, which was paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th were paid a dividend of $0.011 per share. This represents a dividend yield of 1.3%. The ex-dividend date was Monday, September 16th. Utz Brands’s dividend payout ratio is presently -92.00%.

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.