SRS Capital Advisors Inc. Buys 1,891 Shares of Utz Brands, Inc. (NYSE:UTZ)

SRS Capital Advisors Inc. grew its stake in Utz Brands, Inc. (NYSE:UTZ) by 120.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,464 shares of the company’s stock after purchasing an additional 1,891 shares during the quarter. SRS Capital Advisors Inc.’s holdings in Utz Brands were worth $56,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Natixis Advisors L.P. boosted its holdings in Utz Brands by 60.1% during the 4th quarter. Natixis Advisors L.P. now owns 179,031 shares of the company’s stock worth $2,907,000 after acquiring an additional 67,172 shares during the last quarter. Victory Capital Management Inc. grew its position in Utz Brands by 52.4% in the 4th quarter. Victory Capital Management Inc. now owns 31,886 shares of the company’s stock worth $518,000 after purchasing an additional 10,968 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Utz Brands by 20.9% in the 4th quarter. Russell Investments Group Ltd. now owns 59,263 shares of the company’s stock valued at $962,000 after buying an additional 10,236 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its position in shares of Utz Brands by 16.2% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 188,726 shares of the company’s stock worth $3,065,000 after buying an additional 26,282 shares in the last quarter. Finally, Handelsbanken Fonder AB purchased a new position in shares of Utz Brands in the 4th quarter worth approximately $169,000. Hedge funds and other institutional investors own 95.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on UTZ. Piper Sandler lifted their price target on Utz Brands from $18.00 to $21.00 and gave the stock an “overweight” rating in a report on Friday, March 1st. Needham & Company LLC boosted their price target on shares of Utz Brands from $20.50 to $22.00 and gave the stock a “buy” rating in a report on Friday. Stephens raised their price objective on shares of Utz Brands from $21.00 to $23.00 and gave the stock an “overweight” rating in a report on Friday. Truist Financial boosted their target price on shares of Utz Brands from $13.00 to $17.00 and gave the company a “hold” rating in a research note on Monday, March 4th. Finally, Bank of America raised shares of Utz Brands from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $19.00 to $22.00 in a report on Thursday, March 14th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $19.83.

Insider Activity at Utz Brands

In other news, Director Roger K. Deromedi sold 13,446 shares of Utz Brands stock in a transaction on Monday, February 12th. The shares were sold at an average price of $19.03, for a total transaction of $255,877.38. Following the completion of the sale, the director now directly owns 3,548,704 shares of the company’s stock, valued at approximately $67,531,837.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Utz Brands news, major shareholder Series U. Of Um Partners, Llc sold 446,250 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $17.40, for a total value of $7,764,750.00. Following the completion of the sale, the insider now owns 397,885 shares of the company’s stock, valued at $6,923,199. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Roger K. Deromedi sold 13,446 shares of Utz Brands stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $19.03, for a total transaction of $255,877.38. Following the transaction, the director now directly owns 3,548,704 shares in the company, valued at $67,531,837.12. The disclosure for this sale can be found here. Insiders have sold 609,181 shares of company stock valued at $10,754,925 over the last three months. 17.00% of the stock is owned by corporate insiders.

Utz Brands Stock Performance

Shares of NYSE:UTZ opened at $19.24 on Friday. The company has a 50 day moving average of $18.01 and a 200 day moving average of $16.16. The company has a quick ratio of 0.97, a current ratio of 1.42 and a debt-to-equity ratio of 0.65. Utz Brands, Inc. has a 12 month low of $11.17 and a 12 month high of $20.04.

Utz Brands (NYSE:UTZ) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.01. The firm had revenue of $346.50 million for the quarter, compared to analysts’ expectations of $346.99 million. Utz Brands had a negative net margin of 1.38% and a positive return on equity of 6.13%. The business’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.11 earnings per share. On average, sell-side analysts expect that Utz Brands, Inc. will post 0.72 EPS for the current fiscal year.

Utz Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 2nd. Stockholders of record on Monday, April 15th were issued a dividend of $0.059 per share. This is a positive change from Utz Brands’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Friday, April 12th. This represents a $0.24 annualized dividend and a dividend yield of 1.23%. Utz Brands’s payout ratio is presently -96.00%.

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.