Jennison Associates LLC Has $23.47 Million Stake in Utz Brands, Inc. (NYSE:UTZ)

Jennison Associates LLC lowered its stake in shares of Utz Brands, Inc. (NYSE:UTZ) by 3.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,498,395 shares of the company’s stock after selling 46,862 shares during the quarter. Jennison Associates LLC owned about 1.06% of Utz Brands worth $23,465,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp increased its position in shares of Utz Brands by 9.5% in the third quarter. State Street Corp now owns 1,758,961 shares of the company’s stock worth $31,256,000 after purchasing an additional 152,868 shares during the period. Vestcor Inc increased its holdings in Utz Brands by 11.4% in the 3rd quarter. Vestcor Inc now owns 296,100 shares of the company’s stock valued at $5,241,000 after buying an additional 30,400 shares during the period. Geode Capital Management LLC raised its position in shares of Utz Brands by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,548,231 shares of the company’s stock valued at $27,409,000 after buying an additional 47,320 shares in the last quarter. Barclays PLC lifted its holdings in shares of Utz Brands by 21.4% during the 3rd quarter. Barclays PLC now owns 555,477 shares of the company’s stock worth $9,831,000 after acquiring an additional 97,767 shares during the period. Finally, Truist Financial Corp lifted its holdings in shares of Utz Brands by 20.8% during the 2nd quarter. Truist Financial Corp now owns 24,209 shares of the company’s stock worth $403,000 after acquiring an additional 4,176 shares during the period. Institutional investors own 95.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on UTZ shares. Piper Sandler lowered their price objective on shares of Utz Brands from $24.00 to $20.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Mizuho dropped their price objective 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. TD Cowen cut their target price on shares of Utz Brands from $21.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Finally, Barclays reduced their price target on Utz Brands from $19.00 to $17.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $20.20.

Utz Brands Stock Performance

UTZ opened at $13.37 on Thursday. Utz Brands, Inc. has a 1-year low of $12.71 and a 1-year high of $20.04. The company has a market cap of $1.88 billion, a price-to-earnings ratio of -70.34, a PEG ratio of 0.85 and a beta of 1.02. The company’s fifty day moving average price is $15.29 and its two-hundred day moving average price is $16.35. The company has a current ratio of 1.21, a quick ratio of 0.85 and a debt-to-equity ratio of 0.56.

Utz Brands Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th were paid a dividend of $0.061 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $0.24 dividend on an annualized basis and a yield of 1.83%. This is an increase from Utz Brands’s previous quarterly dividend of $0.06. Utz Brands’s payout ratio is -126.32%.

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.