JPMorgan Chase & Co. Grows Stake in Utz Brands, Inc. (NYSE:UTZ)

JPMorgan Chase & Co. increased its position in shares of Utz Brands, Inc. (NYSE:UTZ) by 14.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 7,923,292 shares of the company’s stock after purchasing an additional 1,025,656 shares during the period. JPMorgan Chase & Co. owned approximately 0.06% of Utz Brands worth $124,079,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. LPL Financial LLC raised its stake in Utz Brands by 4.7% in the fourth quarter. LPL Financial LLC now owns 39,879 shares of the company’s stock worth $624,000 after buying an additional 1,789 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in Utz Brands during the fourth quarter valued at about $258,000. Sei Investments Co. raised its holdings in Utz Brands by 8.0% in the fourth quarter. Sei Investments Co. now owns 219,614 shares of the company’s stock worth $3,439,000 after purchasing an additional 16,175 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Utz Brands by 8.4% during the fourth quarter. American Century Companies Inc. now owns 88,099 shares of the company’s stock valued at $1,380,000 after buying an additional 6,824 shares during the last quarter. Finally, Boston Partners boosted its holdings in shares of Utz Brands by 3.5% in the 4th quarter. Boston Partners now owns 885,316 shares of the company’s stock valued at $13,422,000 after buying an additional 30,156 shares in the last quarter. Institutional investors own 95.97% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on UTZ shares. Mizuho reduced their price objective on shares of Utz Brands from $21.00 to $19.00 and set an “outperform” rating for the company in a research note on Monday, February 10th. TD Cowen reduced their price target 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. Barclays lowered their price objective on Utz Brands from $19.00 to $17.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. DA Davidson reduced their target price 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. Finally, Piper Sandler lowered their price target on Utz Brands from $24.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $19.25.

Insider Buying and Selling

In related news, insider Cc Collier Holdings, Llc sold 496,038 shares of the firm’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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Howard A. Friedman acquired 3,525 shares of the stock in a transaction on Monday, February 24th. The stock was bought at an average price of $14.16 per share, for a total transaction of $49,914.00. Following the transaction, the chief executive officer now owns 265,729 shares in the company, valued at approximately $3,762,722.64. This represents a 1.34 % increase in their position. The disclosure for this purchase can be found here. 16.32% of the stock is currently owned by corporate insiders.

Utz Brands Stock Up 1.1 %

Utz Brands stock opened at $14.23 on Wednesday. The business’s 50-day simple moving average is $13.66 and its two-hundred day simple moving average is $15.55. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.85 and a current ratio of 1.21. The company has a market cap of $2.01 billion, a PE ratio of 79.04, a PEG ratio of 0.86 and a beta of 1.05. Utz Brands, Inc. has a fifty-two week low of $12.71 and a fifty-two week high of $20.04.

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

Utz Brands Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders 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 dividend yield of 0.31%. Utz Brands’s payout ratio is currently 133.33%.

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.