Orion Portfolio Solutions LLC Sells 4,893 Shares of Utz Brands, Inc. (NYSE:UTZ)

Orion Portfolio Solutions LLC trimmed its holdings in shares of Utz Brands, Inc. (NYSE:UTZ) by 5.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 85,577 shares of the company’s stock after selling 4,893 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Utz Brands were worth $1,515,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Fifth Third Bancorp purchased a new position in Utz Brands in the 2nd quarter worth about $44,000. Canada Pension Plan Investment Board purchased a new position in shares of Utz Brands during the second quarter worth approximately $80,000. SG Americas Securities LLC bought a new stake in shares of Utz Brands during the second quarter valued at approximately $103,000. nVerses Capital LLC purchased a new stake in shares of Utz Brands in the third quarter valued at approximately $142,000. Finally, XTX Topco Ltd bought a new position in Utz Brands in the second quarter worth approximately $185,000. 95.97% of the stock is owned by hedge funds and other institutional investors.

Utz Brands Trading Up 2.8 %

Shares of NYSE UTZ opened at $17.74 on Friday. Utz Brands, Inc. has a 1-year low of $14.17 and a 1-year high of $20.04. The business has a fifty day moving average price of $17.06 and a 200 day moving average price of $16.99. The stock has a market capitalization of $2.50 billion, a P/E ratio of -93.37, a price-to-earnings-growth ratio of 1.18 and a beta of 1.01. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.21 and a quick ratio of 0.85.

Utz Brands (NYSE:UTZ) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.20 by $0.01. Utz Brands had a negative net margin of 0.99% and a positive return on equity of 7.25%. The business had revenue of $365.50 million during the quarter, compared to analyst estimates of $363.98 million. During the same period in the prior year, the firm posted $0.17 earnings per share. The company’s quarterly revenue was down 1.7% on a year-over-year basis. Equities research analysts expect that Utz Brands, Inc. will post 0.74 EPS for the current fiscal year.

Utz Brands Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be issued a $0.061 dividend. This is a positive change from Utz Brands’s previous quarterly dividend of $0.06. This represents a $0.24 annualized dividend and a yield of 1.38%. The ex-dividend date is Monday, December 16th. Utz Brands’s payout ratio is currently -126.32%.

Wall Street Analyst Weigh In

UTZ has been the subject of a number of research analyst reports. Mizuho decreased their target price on Utz Brands from $24.00 to $21.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Piper Sandler lifted their price objective on Utz Brands from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $21.22.

Insider Transactions at Utz Brands

In other news, insider Cc Collier Holdings, Llc sold 2,815,404 shares of Utz Brands stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $17.29, for a total transaction of $48,678,335.16. Following the completion of the sale, the insider now directly owns 496,038 shares in the company, valued at approximately $8,576,497.02. The trade was a 85.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Cary Devore sold 30,000 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $17.32, for a total value of $519,600.00. Following the completion of the transaction, the executive vice president now directly owns 451,117 shares in the company, valued at approximately $7,813,346.44. The trade was a 6.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 17.00% of the company’s stock.

Utz Brands Company Profile

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.