Jennison Associates LLC Lowers Stock Holdings in Utz Brands, Inc. (NYSE:UTZ)

Jennison Associates LLC reduced its position in Utz Brands, Inc. (NYSE:UTZ) by 25.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,545,257 shares of the company’s stock after selling 541,421 shares during the quarter. Jennison Associates LLC owned 1.10% of Utz Brands worth $27,351,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of UTZ. Victory Capital Management Inc. boosted its stake in shares of Utz Brands by 19.0% in the 3rd quarter. Victory Capital Management Inc. now owns 1,474,047 shares of the company’s stock valued at $26,091,000 after purchasing an additional 235,622 shares in the last quarter. GSA Capital Partners LLP boosted its position in Utz Brands by 100.0% during the third quarter. GSA Capital Partners LLP now owns 165,896 shares of the company’s stock valued at $2,936,000 after buying an additional 82,935 shares during the period. State of New Jersey Common Pension Fund D grew its stake in shares of Utz Brands by 16.1% during the third quarter. State of New Jersey Common Pension Fund D now owns 116,544 shares of the company’s stock valued at $2,063,000 after buying an additional 16,201 shares during the last quarter. Smith Group Asset Management LLC increased its holdings in shares of Utz Brands by 24.2% in the third quarter. Smith Group Asset Management LLC now owns 27,093 shares of the company’s stock worth $480,000 after buying an additional 5,278 shares during the period. Finally, Legacy Wealth Asset Management LLC lifted its stake in shares of Utz Brands by 11.6% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 40,176 shares of the company’s stock valued at $711,000 after acquiring an additional 4,182 shares during the last quarter. 95.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Utz Brands

In other Utz Brands news, EVP Cary Devore sold 30,000 shares of Utz Brands stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $17.32, for a total transaction of $519,600.00. Following the transaction, the executive vice president now owns 451,117 shares of the company’s stock, valued at $7,813,346.44. The trade was a 6.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Cc Collier Holdings, Llc sold 2,815,404 shares of Utz Brands stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $17.29, for a total transaction of $48,678,335.16. Following the transaction, the insider now owns 496,038 shares in the company, valued at approximately $8,576,497.02. This trade represents a 85.02 % decrease in their position. The disclosure for this sale can be found here. 17.00% of the stock is owned by corporate insiders.

Utz Brands Price Performance

Shares of UTZ opened at $16.91 on Friday. The company has a market capitalization of $2.38 billion, a P/E ratio of -89.00, a price-to-earnings-growth ratio of 1.14 and a beta of 1.01. Utz Brands, Inc. has a twelve month low of $12.99 and a twelve month high of $20.04. The company has a quick ratio of 0.85, a current ratio of 1.21 and a debt-to-equity ratio of 0.56. The firm has a 50 day moving average of $17.23 and a 200 day moving average of $17.12.

Utz Brands (NYSE:UTZ) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. The firm had revenue of $365.50 million for the quarter, compared to the consensus estimate of $363.98 million. Utz Brands had a positive return on equity of 7.25% and a negative net margin of 0.99%. The company’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.17 earnings per share. As a group, equities research analysts anticipate that Utz Brands, Inc. will post 0.73 earnings per share for the current fiscal year.

Utz Brands Announces Dividend

The company also recently disclosed a None dividend, which was paid on Thursday, October 3rd. Investors of record on Monday, September 16th were given a dividend of $0.011 per share. This represents a yield of 1.3%. The ex-dividend date of this dividend was Monday, September 16th. Utz Brands’s dividend payout ratio (DPR) is presently -126.32%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on UTZ shares. Piper Sandler raised their target price on shares of Utz Brands from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Needham & Company LLC restated a “buy” rating and issued a $22.00 price objective on shares of Utz Brands in a research report on Friday, August 2nd. Finally, Mizuho dropped their target price on shares of Utz Brands from $24.00 to $21.00 and set an “outperform” rating for the company in a report on Monday, November 4th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Utz Brands presently has an average rating of “Moderate Buy” and a consensus target price of $21.22.

Utz Brands 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.