Kimelman & Baird LLC Sells 72,600 Shares of Utz Brands, Inc. $UTZ

Kimelman & Baird LLC cut its stake in Utz Brands, Inc. (NYSE:UTZ) by 56.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,984 shares of the company’s stock after selling 72,600 shares during the period. Kimelman & Baird LLC’s holdings in Utz Brands were worth $798,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in UTZ. Diamond Hill Capital Management LLC Investment Advisor acquired a new position in Utz Brands during the 2nd quarter worth $14,462,000. Copeland Capital Management LLC increased its position in shares of Utz Brands by 17.8% in the 1st quarter. Copeland Capital Management LLC now owns 4,063,561 shares of the company’s stock worth $32,183,000 after purchasing an additional 613,699 shares during the last quarter. Systematic Financial Management LP raised its stake in shares of Utz Brands by 195.5% in the 1st quarter. Systematic Financial Management LP now owns 849,461 shares of the company’s stock valued at $6,728,000 after purchasing an additional 561,961 shares in the last quarter. Royal Bank of Canada raised its stake in shares of Utz Brands by 61.4% in the 1st quarter. Royal Bank of Canada now owns 937,060 shares of the company’s stock valued at $7,421,000 after purchasing an additional 356,428 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Utz Brands by 21.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,998,089 shares of the company’s stock valued at $15,824,000 after purchasing an additional 355,460 shares in the last quarter. 95.97% of the stock is currently owned by institutional investors.

Utz Brands Stock Down 0.2%

Shares of NYSE:UTZ opened at $14.24 on Friday. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of -33.13 and a beta of 0.79. Utz Brands, Inc. has a 1-year low of $6.78 and a 1-year high of $14.36. The company’s fifty day moving average is $14.27 and its two-hundred day moving average is $10.51. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.69 and a current ratio of 1.06.

Utz Brands (NYSE:UTZ) last posted its quarterly earnings results on Friday, November 6th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.13). Utz Brands had a positive return on equity of 8.97% and a negative net margin of 2.00%. The business had revenue of $369.20 million during the quarter, compared to the consensus estimate of $384.60 million. During the same quarter in the previous year, the business posted $0.23 earnings per share. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. Equities analysts anticipate that Utz Brands, Inc. will post 0.80 EPS for the current year.

Utz Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Monday, September 21st were paid a dividend of $0.0630 per share. The ex-dividend date was Monday, September 21st. This represents a $0.25 annualized dividend and a yield of 1.8%. Utz Brands’s dividend payout ratio is -75.76%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Barclays downgraded Utz Brands from an “overweight” rating to an “equal weight” rating and set a $14.00 price target for the company. in a research note on Tuesday, July 21st. UBS Group restated a “neutral” rating and set a $14.25 price objective on shares of Utz Brands in a research note on Wednesday, July 22nd. Jefferies Financial Group downgraded Utz Brands from a “strong-buy” rating to a “hold” rating and set a $14.25 target price on the stock. in a report on Tuesday, July 21st. Wall Street Zen downgraded Utz Brands from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. Finally, BTIG Research lowered Utz Brands from a “buy” rating to a “hold” rating in a research report on Monday, July 27th. One analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Utz Brands presently has a consensus rating of “Hold” and a consensus price target of $13.39.

Utz Brands Profile

Utz Brands, Inc is a U.S.-based snack food company that manufactures, markets and distributes a broad portfolio of branded salty snacks. Its products include potato chips, tortilla chips, pretzels, cheese snacks, pork rinds, popcorn and other snack items sold through grocery stores, mass merchants, club stores, convenience stores and e-commerce channels.

The company’s brand portfolio includes Utz, Zapp’s, Boulder Canyon, On the Border, Golden Flake, Good Health and Hawaiian, among others.