Diamond Hill Capital Management Inc. Increases Position in Utz Brands, Inc. $UTZ

Diamond Hill Capital Management Inc. increased its position in shares of Utz Brands, Inc. (NYSE:UTZ) by 42.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 327,853 shares of the company’s stock after acquiring an additional 97,271 shares during the quarter. Diamond Hill Capital Management Inc. owned approximately 0.23% of Utz Brands worth $3,983,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of UTZ. Ameriprise Financial Inc. boosted its holdings in shares of Utz Brands by 7.3% during the second quarter. Ameriprise Financial Inc. now owns 6,085,250 shares of the company’s stock worth $76,370,000 after purchasing an additional 413,493 shares during the last quarter. Copeland Capital Management LLC lifted its position in Utz Brands by 10.8% during the third quarter. Copeland Capital Management LLC now owns 3,131,099 shares of the company’s stock worth $38,043,000 after buying an additional 304,163 shares during the period. Balyasny Asset Management L.P. lifted its holdings in shares of Utz Brands by 42.3% during the 2nd quarter. Balyasny Asset Management L.P. now owns 2,946,512 shares of the company’s stock worth $36,979,000 after acquiring an additional 875,847 shares during the period. Goldman Sachs Group Inc. raised its stake in Utz Brands by 40.8% during the first quarter. Goldman Sachs Group Inc. now owns 2,022,709 shares of the company’s stock worth $28,480,000 after purchasing an additional 585,952 shares during the period. Finally, Jennison Associates LLC increased its holdings in shares of Utz Brands by 31.8% during the 2nd quarter. Jennison Associates LLC now owns 2,004,665 shares of the company’s stock worth $25,159,000 after buying an additional 483,906 shares during the last quarter. 95.97% of the stock is currently owned by institutional investors and hedge funds.

Utz Brands Stock Performance

Utz Brands stock opened at $10.97 on Monday. The firm has a market capitalization of $1.57 billion, a PE ratio of 156.71, a price-to-earnings-growth ratio of 1.37 and a beta of 0.92. Utz Brands, Inc. has a one year low of $9.15 and a one year high of $14.67. The stock’s 50 day moving average price is $10.22 and its 200 day moving average price is $11.49. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.80 and a current ratio of 1.22.

Utz Brands Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Monday, December 15th were paid a $0.063 dividend. This represents a $0.25 annualized dividend and a dividend yield of 2.3%. This is a boost from Utz Brands’s previous quarterly dividend of $0.06. The ex-dividend date was Monday, December 15th. Utz Brands’s payout ratio is currently 357.14%.

Insiders Place Their Bets

In other news, major shareholder Series R. Of Um Partners, Llc purchased 12,420 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The shares were purchased at an average price of $9.60 per share, with a total value of $119,232.00. Following the purchase, the insider directly owned 628,594 shares of the company’s stock, valued at approximately $6,034,502.40. This represents a 2.02% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Dylan Lissette acquired 7,010 shares of the firm’s stock in a transaction on Tuesday, November 18th. The stock was purchased at an average cost of $9.99 per share, with a total value of $70,029.90. Following the completion of the transaction, the director owned 160,694 shares in the company, valued at $1,605,333.06. The trade was a 4.56% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have purchased 29,020 shares of company stock valued at $283,851. Company insiders own 16.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on UTZ. Weiss Ratings reissued a “sell (d)” rating on shares of Utz Brands in a research report on Monday, December 29th. Mizuho set a $16.00 price objective on Utz Brands in a research note on Monday, November 3rd. TD Cowen decreased their target price on Utz Brands from $14.00 to $12.00 and set a “hold” rating for the company in a report on Friday, October 31st. Bank of America cut their price target on shares of Utz Brands from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday, January 13th. Finally, UBS Group reduced their price target on shares of Utz Brands from $11.50 to $11.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 14th. Six investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $14.38.

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.