Moody National Bank Trust Division Acquires Shares of 10,804 Utz Brands, Inc. (NYSE:UTZ)

Moody National Bank Trust Division bought a new position in Utz Brands, Inc. (NYSE:UTZ) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 10,804 shares of the company’s stock, valued at approximately $169,000.

Several other hedge funds and other institutional investors also recently modified their holdings of UTZ. Canada Pension Plan Investment Board bought a new position in Utz Brands in the 2nd quarter worth about $80,000. nVerses Capital LLC bought a new stake in shares of Utz Brands during the third quarter valued at about $142,000. XTX Topco Ltd purchased a new stake in shares of Utz Brands in the second quarter worth about $185,000. MQS Management LLC bought a new position in shares of Utz Brands in the second quarter valued at approximately $187,000. Finally, Choreo LLC purchased a new position in Utz Brands during the second quarter valued at approximately $195,000. Institutional investors own 95.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on UTZ shares. Piper Sandler increased their target price on shares of Utz Brands from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. TD Cowen lowered their price objective on Utz Brands from $21.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Finally, Mizuho reduced their target price on Utz Brands from $24.00 to $21.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Utz Brands presently has a consensus rating of “Moderate Buy” and an average target price of $20.80.

Utz Brands Stock Performance

NYSE:UTZ opened at $13.85 on Thursday. Utz Brands, Inc. has a 1-year low of $13.36 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 has a 50 day moving average of $16.30 and a 200 day moving average of $16.59. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of -72.89, a PEG ratio of 1.18 and a beta of 1.03.

Utz Brands (NYSE:UTZ) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. The company had revenue of $365.50 million during the quarter, compared to analysts’ expectations of $363.98 million. Utz Brands had a negative net margin of 0.99% and a positive return on equity of 7.25%. The firm’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 EPS. On average, sell-side analysts predict that Utz Brands, Inc. will post 0.74 earnings per share for the current fiscal year.

Utz Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th were issued a $0.061 dividend. The ex-dividend date was Monday, December 16th. This represents a $0.24 annualized dividend and a dividend yield of 1.76%. This is an increase from Utz Brands’s previous quarterly dividend of $0.06. Utz Brands’s payout ratio is currently -126.32%.

Insider Activity

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

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.