Select Equity Group L.P. purchased a new stake in Utz Brands, Inc. (NYSE:UTZ) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 631,306 shares of the company’s stock, valued at approximately $15,650,000. Select Equity Group L.P. owned approximately 0.46% of Utz Brands as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its holdings in shares of Utz Brands by 1.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,164,948 shares of the company’s stock worth $202,409,000 after buying an additional 122,608 shares in the last quarter. Morgan Stanley raised its holdings in shares of Utz Brands by 40.2% in the 1st quarter. Morgan Stanley now owns 6,488,961 shares of the company’s stock worth $160,861,000 after buying an additional 1,860,191 shares in the last quarter. Neuberger Berman Group LLC raised its holdings in shares of Utz Brands by 4.7% in the 1st quarter. Neuberger Berman Group LLC now owns 5,122,599 shares of the company’s stock worth $126,939,000 after buying an additional 230,885 shares in the last quarter. Champlain Investment Partners LLC raised its holdings in shares of Utz Brands by 0.9% in the 1st quarter. Champlain Investment Partners LLC now owns 1,710,575 shares of the company’s stock worth $42,405,000 after buying an additional 15,030 shares in the last quarter. Finally, BlackRock Inc. raised its holdings in shares of Utz Brands by 29.2% in the 1st quarter. BlackRock Inc. now owns 1,050,247 shares of the company’s stock worth $26,037,000 after buying an additional 237,635 shares in the last quarter. 39.28% of the stock is owned by hedge funds and other institutional investors.
UTZ remained flat at $$22.61 during mid-day trading on Thursday. The company’s stock had a trading volume of 1,243 shares, compared to its average volume of 1,022,258. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.70 and a quick ratio of 1.18. The company’s 50 day simple moving average is $23.14. Utz Brands, Inc. has a 52-week low of $12.76 and a 52-week high of $30.09.
The business also recently declared a quarterly dividend, which was paid on Monday, July 12th. Stockholders of record on Monday, June 21st were given a $0.05 dividend. The ex-dividend date was Friday, June 18th. This represents a $0.20 annualized dividend and a dividend yield of 0.88%.
A number of research firms recently weighed in on UTZ. Citigroup dropped their price target on Utz Brands from $30.00 to $28.00 and set a “buy” rating for the company in a report on Friday, May 14th. Zacks Investment Research cut Utz Brands from a “hold” rating to a “sell” rating in a report on Wednesday, June 30th. Stephens raised Utz Brands from an “equal weight” rating to an “overweight” rating in a report on Friday, May 14th. Finally, dropped their price target on Utz Brands from $30.00 to $28.00 and set a “buy” rating for the company in a report on Friday, May 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $26.13.
Utz Brands Profile
Utz Brands, Inc operates as a snack food manufacturing company. It offers a range of salty snacks, including potato chips, pretzels, cheese snacks, veggie snacks, pork skins, pub/party mixes, and other snacks under the Utz, Zapp's, ON THE BORDER, Golden Flake, Good Health, Boulder Canyon, Hawaiian, and TORTIYAHS brands.
Further Reading: Buyback
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