Tributary Capital Management LLC Has $10.97 Million Holdings in Utz Brands, Inc. $UTZ

Tributary Capital Management LLC boosted its holdings in shares of Utz Brands, Inc. (NYSE:UTZ) by 5.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 874,421 shares of the company’s stock after acquiring an additional 43,699 shares during the quarter. Tributary Capital Management LLC owned 0.62% of Utz Brands worth $10,974,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. SPC Financial Inc. purchased a new stake in shares of Utz Brands during the 2nd quarter worth about $149,000. Sageworth Trust Co purchased a new stake in shares of Utz Brands during the 2nd quarter worth about $221,000. Truist Financial Corp raised its stake in shares of Utz Brands by 6.3% during the 2nd quarter. Truist Financial Corp now owns 50,338 shares of the company’s stock worth $632,000 after purchasing an additional 3,001 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Utz Brands by 97.3% during the 2nd quarter. Janney Montgomery Scott LLC now owns 27,436 shares of the company’s stock worth $344,000 after purchasing an additional 13,533 shares in the last quarter. Finally, Ballentine Partners LLC purchased a new stake in shares of Utz Brands during the 2nd quarter worth about $169,000. 95.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on UTZ shares. Barclays cut their price target on Utz Brands from $17.00 to $16.00 and set an “overweight” rating for the company in a research note on Friday, June 27th. UBS Group cut their price target on Utz Brands from $15.00 to $13.50 and set a “neutral” rating for the company in a research note on Wednesday, October 8th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Utz Brands in a research note on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Utz Brands presently has an average rating of “Moderate Buy” and a consensus target price of $17.07.

Utz Brands Stock Performance

Shares of NYSE UTZ opened at $12.61 on Thursday. The company has a quick ratio of 0.87, a current ratio of 1.29 and a debt-to-equity ratio of 0.62. The business’s 50 day moving average is $12.74 and its two-hundred day moving average is $13.04. The company has a market cap of $1.79 billion, a P/E ratio of 60.07, a P/E/G ratio of 1.68 and a beta of 1.02. Utz Brands, Inc. has a 12 month low of $11.53 and a 12 month high of $18.29.

Utz Brands (NYSE:UTZ) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.02). The business had revenue of $366.70 million during the quarter, compared to the consensus estimate of $360.55 million. Utz Brands had a return on equity of 7.81% and a net margin of 1.27%.The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.19 earnings per share. Utz Brands has set its FY 2025 guidance at 0.820-0.850 EPS. On average, equities analysts expect that Utz Brands, Inc. will post 0.85 EPS for the current year.

Utz Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Monday, September 15th were given a dividend of $0.061 per share. The ex-dividend date was Monday, September 15th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.9%. Utz Brands’s payout ratio is currently 114.29%.

Insider Activity

In other news, Director Christina Choi sold 5,703 shares of the business’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $13.63, for a total transaction of $77,731.89. Following the sale, the director directly owned 33,710 shares in the company, valued at approximately $459,467.30. The trade was a 14.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 16.32% of the company’s stock.

About Utz Brands

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.