Copeland Capital Management LLC grew its stake in Utz Brands, Inc. (NYSE:UTZ – Free Report) by 17.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,063,561 shares of the company’s stock after acquiring an additional 613,699 shares during the period. Copeland Capital Management LLC owned 2.83% of Utz Brands worth $32,183,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Utz Brands by 3.4% during the fourth quarter. Vanguard Group Inc. now owns 7,679,985 shares of the company’s stock worth $79,718,000 after acquiring an additional 252,876 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Utz Brands by 7.3% in the second quarter. Ameriprise Financial Inc. now owns 6,085,250 shares of the company’s stock valued at $76,370,000 after acquiring an additional 413,493 shares during the last quarter. Balyasny Asset Management L.P. increased its position in Utz Brands by 42.3% in the second quarter. Balyasny Asset Management L.P. now owns 2,946,512 shares of the company’s stock worth $36,979,000 after purchasing an additional 875,847 shares during the period. Alyeska Investment Group L.P. increased its position in Utz Brands by 105.2% in the fourth quarter. Alyeska Investment Group L.P. now owns 2,414,791 shares of the company’s stock worth $25,066,000 after purchasing an additional 1,238,180 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Utz Brands by 0.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,022,847 shares of the company’s stock worth $24,576,000 after purchasing an additional 9,672 shares during the last quarter. 95.97% of the stock is currently owned by institutional investors and hedge funds.
Utz Brands Price Performance
NYSE UTZ opened at $7.24 on Friday. The business has a 50 day simple moving average of $7.41 and a 200 day simple moving average of $8.39. Utz Brands, Inc. has a 52-week low of $6.78 and a 52-week high of $14.67. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.75 and a current ratio of 1.14. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of -72.34, a PEG ratio of 2.73 and a beta of 0.82.
Utz Brands Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Monday, June 22nd were paid a $0.063 dividend. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $0.25 annualized dividend and a dividend yield of 3.5%. Utz Brands’s dividend payout ratio (DPR) is currently -250.00%.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on the stock. Barclays lowered their price target on shares of Utz Brands from $12.00 to $10.00 and set an “overweight” rating for the company in a research report on Tuesday, April 14th. TD Cowen reduced their price objective on shares of Utz Brands from $11.00 to $9.00 and set a “hold” rating on the stock in a research note on Monday, April 20th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Utz Brands in a report on Wednesday, June 24th. UBS Group dropped their target price on shares of Utz Brands from $8.50 to $8.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, Zacks Research upgraded Utz Brands from a “strong sell” rating to a “hold” rating in a research report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Utz Brands has an average rating of “Moderate Buy” and an average price target of $12.00.
Read Our Latest Analysis on Utz Brands
Utz Brands Company Profile
Utz Brands, Inc is a leading U.S. manufacturer and distributor of salty snack foods, offering a wide range of products including potato chips, pretzels, cheese snacks, popcorn and tortilla chips. Headquartered in Hanover, Pennsylvania, the company markets its snacks under several well-known brands and serves grocery, mass merchandise, club, convenience and online retailers throughout the United States.
Founded in 1921 by Bill and Salie Utz as a small country store operation, the business expanded gradually through direct delivery to local customers and sales to regional grocers.
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