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Utz Brands director sells over $56k in company stock

Published 05/25/2024, 04:36 AM
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UTZ
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Utz Brands, Inc. (NYSE:UTZ) director Christina Choi has sold a portion of her shares in the company, according to the latest SEC filings. The transaction, which took place on May 23, involved the sale of 3,160 shares of Class A Common Stock at a price of $17.98 per share, resulting in a total sale value of $56,816.

This move by Choi comes as part of a financial strategy to satisfy tax liabilities associated with the settlement of a restricted stock unit award. Following the sale, Choi retains ownership of 29,740 shares in the company, which is known for its range of snack products.

Investors often keep an eye on insider transactions as they can provide insights into the company's financial health and the confidence levels of its top executives. The sale by Choi might be interpreted in various ways, but it is not uncommon for executives to sell shares for personal financial planning, including tax obligations.

Utz Brands, with its headquarters in Hanover, Pennsylvania, has a rich history dating back to 1921 and has grown to become a major player in the snack food industry. The company, formerly known as Collier Creek Holdings, has a diverse portfolio of products that are distributed across the United States.

As with all insider transactions, the sale has been publicly disclosed in accordance with SEC regulations to ensure transparency and maintain fair trading practices. Investors and analysts will continue to monitor such activities within Utz Brands as they assess the company's performance and stock potential.

InvestingPro Insights

Amidst insider transactions, Utz Brands, Inc. (NYSE:UTZ) continues to present a mixed financial landscape. The company's market capitalization stands at a robust $2.55 billion, reflecting investor confidence in its market position. Despite a challenging P/E ratio, currently at -44.0 for the last twelve months as of Q1 2024, the company's revenue shows modest growth at 1.0% for the same period. This data suggests a stable revenue stream, albeit with room for improvement.

InvestingPro Tips indicate that Utz Brands has a history of rewarding its shareholders, having raised its dividend for four consecutive years, with a current dividend yield of 1.31%. This commitment to shareholder returns is complemented by the expectation of net income growth in the current year. Furthermore, with four analysts having revised their earnings estimates upwards for the upcoming period, there is an anticipation of positive financial developments for Utz Brands.

For investors seeking additional insights, there are 11 more InvestingPro Tips available for Utz Brands, which can be accessed at https://www.investing.com/pro/UTZ. These tips provide a deeper understanding of the company's financial health and future prospects. To enhance your investment research, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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