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In a recent transaction, CC Collier Holdings, LLC, a majority shareholder in Utz Brands, Inc. (NYSE:UTZ), sold a significant amount of its stock. The transactions, which took place on March 13 and March 14, resulted in the sale of a total of 337,938 shares of Utz Brands' common stock and provided the selling company with gross proceeds of $6,080,698.
The shares were sold at a weighted average price, with the sale of 92,226 shares on March 13th at an average price of $17.80 per share and the sale of 244,712 shares on March 14th at an average price of $18.14 per share. The prices of the shares sold on March 13th ranged from $17.55 to $18.32, while the prices on March 14th ranged from $17.89 to $18.44.
Following these transactions, CC Collier Holdings, LLC will own 3,311,442 shares of Utz Brands common stock. It is noteworthy that Mr. Chinh E. Chu, who has voting and dispositional rights to the securities held by CC Collier Holdings, separately reports beneficial ownership of the securities involved in these transactions.
The sale was disclosed in a filing with the Securities and Exchange Commission, which provides transparency into the trading activity of company insiders. Investors often monitor these sales as they can give an insider's view of a company's current valuation and future prospects.
Utz Brands, Inc., headquartered in Hanover, Pennsylvania, is known for its portfolio of snack brands, including potato chips, pretzels, and other snack foods. The company is a major player in the snack food industry and continues to grow its presence in the national market.
Investment Pro Insights
Following recent insider transactions in Utz Brands, Inc. (NYSE:UTZ), investors are keen to understand the company's financial health and future prospects. According to data from InvestingPro, Utz Brands has a market capitalization of $2.58 billion, which is quite large within the snack food industry. Nevertheless, the company's P/E ratio is -58.73, reflecting investors' concerns about profitability, as Utz has not made a profit in the past 12 months as of Q4 2023. consistent with the facts.
However, InvestingPro Tip highlights that Utz has increased its dividend for four consecutive years and currently has a dividend yield of 1.25%, suggesting a commitment to returning value to shareholders. Additionally, the company's current assets exceed its short-term debt, which may provide some reassurance about its ability to repay its immediate financial obligations.
From a growth perspective, as of Q4 2023, Utz's revenue grew slightly at 2.12% over the past 12 months, while its gross margin was solid at 31.62%. This financial stability is also reflected in the company's solid returns over the past three months, with a total price return of 24.71%. Analysts expect the company to be profitable this year, which could explain the large price increase over the past six months (equivalent to a return of 27.65%).
Investors looking for more detailed analysis and additional tips from InvestingPro, such as the company trading at high EBIT and EBITDA valuation multiples, can explore Utz Brands' detailed financial metrics at Investing.com/pro/UTZ can. InvestingPro has 9 additional tips available that may further clarify your company's valuation and performance. To access these insights, readers can use a coupon code. pro news 24 Get an extra 10% off annual or biennial Pro and Pro+ subscriptions.
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