DAVENPORT & Co LLC Has $4.62 Million Stake in Utz Brands, Inc. (NYSE:UTZ)

DAVENPORT & Co LLC lowered its position in Utz Brands, Inc. (NYSE:UTZ) by 34.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 294,864 shares of the company’s stock after selling 156,386 shares during the quarter. DAVENPORT & Co LLC owned approximately 0.21% of Utz Brands worth $4,617,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC lifted its stake in Utz Brands by 31.6% in the 4th quarter. SG Americas Securities LLC now owns 30,929 shares of the company’s stock valued at $484,000 after purchasing an additional 7,419 shares during the last quarter. Ballentine Partners LLC acquired a new stake in shares of Utz Brands in the fourth quarter valued at approximately $220,000. Moody National Bank Trust Division bought a new position in shares of Utz Brands during the 4th quarter worth approximately $169,000. Diversified Trust Co increased its holdings in shares of Utz Brands by 25.5% during the 4th quarter. Diversified Trust Co now owns 56,308 shares of the company’s stock worth $882,000 after acquiring an additional 11,438 shares during the last quarter. Finally, Neo Ivy Capital Management bought a new stake in Utz Brands in the 3rd quarter valued at $282,000. Institutional investors own 95.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Mizuho decreased their price objective 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. TD Cowen decreased their price target on shares of Utz Brands from $21.00 to $17.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Barclays cut their price objective 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. Finally, Piper Sandler lowered their target price on Utz Brands from $24.00 to $20.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $20.20.

Utz Brands Price Performance

Shares of NYSE UTZ opened at $13.26 on Tuesday. The stock has a market capitalization of $1.87 billion, a PE ratio of -69.78, a P/E/G ratio of 0.85 and a beta of 1.03. Utz Brands, Inc. has a fifty-two week low of $12.91 and a fifty-two week 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 fifty day moving average price of $15.45 and a two-hundred day moving average price of $16.39.

Utz Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 16th were given a dividend of $0.061 per share. This is a boost from Utz Brands’s previous quarterly dividend of $0.06. The ex-dividend date was Monday, December 16th. This represents a $0.24 annualized dividend and a yield of 1.84%. Utz Brands’s dividend payout ratio is currently -126.32%.

Insiders Place Their Bets

In other Utz Brands news, insider Cc Collier Holdings, Llc sold 2,815,404 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $17.29, for a total transaction of $48,678,335.16. Following the completion of the sale, the insider now directly owns 496,038 shares in the company, valued at $8,576,497.02. This represents a 85.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 17.00% of the company’s stock.

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.