Royal Bank of Canada Purchases 356,428 Shares of Utz Brands, Inc. $UTZ

Royal Bank of Canada boosted its position in shares of Utz Brands, Inc. (NYSE:UTZ) by 61.4% in the 1st quarter, Holdings Channel.com reports. The fund owned 937,060 shares of the company’s stock after purchasing an additional 356,428 shares during the period. Royal Bank of Canada’s holdings in Utz Brands were worth $7,421,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. NewEdge Advisors LLC purchased a new position in shares of Utz Brands during the 2nd quarter valued at $25,000. Global Retirement Partners LLC increased its holdings in shares of Utz Brands by 431.5% in the fourth quarter. Global Retirement Partners LLC now owns 3,343 shares of the company’s stock worth $35,000 after purchasing an additional 2,714 shares during the period. Farther Finance Advisors LLC raised its position in shares of Utz Brands by 118.5% in the fourth quarter. Farther Finance Advisors LLC now owns 4,356 shares of the company’s stock worth $45,000 after buying an additional 2,362 shares in the last quarter. Osaic Holdings Inc. raised its position in shares of Utz Brands by 76.1% in the second quarter. Osaic Holdings Inc. now owns 3,756 shares of the company’s stock worth $47,000 after buying an additional 1,623 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd boosted its stake in Utz Brands by 134.0% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 6,125 shares of the company’s stock valued at $64,000 after buying an additional 3,507 shares during the period. Institutional investors own 95.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on UTZ. Weiss Ratings restated a “sell (d)” rating on shares of Utz Brands in a research report on Wednesday, June 24th. Barclays cut Utz Brands from an “overweight” rating to an “equal weight” rating and set a $14.00 price target on the stock. in a report on Tuesday, July 21st. Zacks Research upgraded Utz Brands from a “strong sell” rating to a “hold” rating in a research report on Monday, April 20th. TD Cowen cut their price objective on Utz Brands from $11.00 to $9.00 and set a “hold” rating for the company in a report on Monday, April 20th. Finally, Wall Street Zen cut shares of Utz Brands from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. One research analyst has rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Utz Brands presently has a consensus rating of “Hold” and an average price target of $13.39.

Utz Brands Price Performance

UTZ opened at $14.11 on Tuesday. The company has a current ratio of 1.06, a quick ratio of 0.69 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $2.03 billion, a P/E ratio of -42.76 and a beta of 0.73. The stock has a 50-day moving average price of $9.43 and a 200-day moving average price of $8.77. Utz Brands, Inc. has a 12-month low of $6.78 and a 12-month high of $14.19.

Utz Brands (NYSE:UTZ) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. The company had revenue of $371.80 million for the quarter, compared to analysts’ expectations of $374.18 million. Utz Brands had a positive return on equity of 8.97% and a negative net margin of 2.00%.Utz Brands’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period last year, the firm posted $0.17 EPS. Equities analysts predict that Utz Brands, Inc. will post 0.79 earnings per share for the current fiscal year.

Utz Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Monday, June 22nd were paid a dividend of $0.063 per share. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $0.25 annualized dividend and a dividend yield of 1.8%. Utz Brands’s dividend payout ratio (DPR) is -75.76%.

About Utz Brands

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.