Utz Brands, Inc. (NYSE:UTZ) Sees Significant Decline in Short Interest

Utz Brands, Inc. (NYSE:UTZ – Get Free Report) saw a significant drop in short interest in the month of October. As of October 15th, there was short interest totaling 4,574,410 shares, a drop of 37.5% from the September 30th total of 7,314,025 shares. Based on an average daily volume of 1,942,359 shares, the days-to-cover ratio is presently 2.4 days. Approximately 3.6% of the shares of the company are sold short.

Institutional Investors Weigh In On Utz Brands

Several institutional investors and hedge funds have recently bought and sold shares of the business. Copeland Capital Management LLC boosted its position in shares of Utz Brands by 17.8% during the 1st quarter. Copeland Capital Management LLC now owns 4,063,561 shares of the company’s stock valued at $32,183,000 after acquiring an additional 613,699 shares in the last quarter. Bank of America Corp DE increased its stake in Utz Brands by 26.7% in the first quarter. Bank of America Corp DE now owns 796,586 shares of the company’s stock valued at $6,309,000 after acquiring an additional 167,958 shares during the period. Systematic Financial Management LP raised its position in Utz Brands by 195.5% in the first quarter. Systematic Financial Management LP now owns 849,461 shares of the company’s stock worth $6,728,000 after purchasing an additional 561,961 shares in the last quarter. Ancora Advisors LLC acquired a new position in Utz Brands in the second quarter worth about $1,068,000. Finally, Royal Bank of Canada raised its position in Utz Brands by 61.4% in the first quarter. Royal Bank of Canada now owns 937,060 shares of the company’s stock worth $7,421,000 after purchasing an additional 356,428 shares in the last quarter. Institutional investors own 95.97% of the company’s stock.

Utz Brands Stock Down 0.0%

UTZ stock opened at $14.29 on Wednesday. Utz Brands has a twelve month low of $6.78 and a twelve month high of $14.36. The company has a market cap of $2.06 billion, a PE ratio of -43.29 and a beta of 0.79. The business’s 50-day simple moving average is $14.26 and its 200 day simple moving average is $10.45. The company has a quick ratio of 0.69, a current ratio of 1.06 and a debt-to-equity ratio of 0.62.

Utz Brands (NYSE:UTZ – Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. The company had revenue of $371.80 million during the quarter, compared to the consensus estimate of $374.18 million. Utz Brands had a positive return on equity of 8.97% and a negative net margin of 2.00%. The company’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the company earned $0.17 EPS. On average, research analysts anticipate that Utz Brands will post 0.80 earnings per share for the current year.

Utz Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Shareholders 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 dividend on an annualized basis and a yield of 1.8%. Utz Brands’s payout ratio is currently -75.76%.

Analysts Set New Price Targets

UTZ has been the subject of several recent analyst reports. UBS Group reaffirmed a “neutral” rating and set a $14.25 price objective on shares of Utz Brands in a report on Wednesday, July 22nd. Barclays lowered shares of Utz Brands from an “overweight” rating to an “equal weight” rating and set a $14.00 target price on the stock. in a research note on Tuesday, July 21st. DA Davidson downgraded shares of Utz Brands from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $15.00 to $14.25 in a report on Wednesday, July 22nd. Jefferies Financial Group lowered shares of Utz Brands from a “strong-buy” rating to a “hold” rating and set a $14.25 target price for the company. in a research report on Tuesday, July 21st. Finally, Stephens set a $14.25 target price on shares of Utz Brands in a research report on Tuesday, July 21st. One investment 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. Based on data from MarketBeat.com, Utz Brands currently has a consensus rating of “Hold” and an average target price of $13.39.

View Our Latest Stock Report on Utz Brands

Utz Brands Company Profile

(Get Free Report)

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.

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