MQS Management LLC Acquires New Shares in Utz Brands, Inc. (NYSE:UTZ)

MQS Management LLC bought a new position in shares of Utz Brands, Inc. (NYSE:UTZ) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 11,249 shares of the company’s stock, valued at approximately $187,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fifth Third Bancorp acquired a new stake in shares of Utz Brands during the 2nd quarter worth about $44,000. SG Americas Securities LLC acquired a new stake in shares of Utz Brands during the second quarter valued at about $103,000. Parallel Advisors LLC raised its stake in shares of Utz Brands by 11.6% in the 4th quarter. Parallel Advisors LLC now owns 9,924 shares of the company’s stock valued at $161,000 after acquiring an additional 1,033 shares during the period. Waterloo Capital L.P. purchased a new stake in shares of Utz Brands in the 4th quarter valued at approximately $169,000. Finally, XTX Topco Ltd acquired a new position in shares of Utz Brands in the 2nd quarter worth approximately $185,000. Hedge funds and other institutional investors own 95.97% of the company’s stock.

Utz Brands Price Performance

Shares of NYSE UTZ opened at $17.64 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.69 and a quick ratio of 1.21. The company has a market cap of $2.48 billion, a price-to-earnings ratio of -70.56, a price-to-earnings-growth ratio of 1.18 and a beta of 1.01. The stock’s 50-day moving average is $16.63 and its two-hundred day moving average is $17.39. Utz Brands, Inc. has a 1-year low of $11.17 and a 1-year high of $20.04.

Utz Brands (NYSE:UTZ) last released its earnings results on Thursday, August 1st. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. Utz Brands had a net margin of 0.29% and a return on equity of 6.79%. The firm had revenue of $356.20 million for the quarter, compared to analyst estimates of $356.23 million. During the same period in the prior year, the firm earned $0.13 earnings per share. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. Analysts forecast that Utz Brands, Inc. will post 0.74 EPS for the current fiscal year.

Utz Brands Announces Dividend

The company also recently disclosed a None dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th will be given a dividend of $0.011 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a dividend yield of 1.3%. Utz Brands’s dividend payout ratio (DPR) is currently -92.00%.

Insider Transactions at Utz Brands

In other Utz Brands news, Director Bruce John Lindeman bought 4,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average price of $16.11 per share, with a total value of $64,440.00. Following the completion of the acquisition, the director now directly owns 42,480 shares of the company’s stock, valued at approximately $684,352.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 17.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Piper Sandler reissued an “overweight” rating and issued a $22.00 target price on shares of Utz Brands in a research report on Wednesday, August 21st. Needham & Company LLC reiterated a “buy” rating and issued a $22.00 price objective on shares of Utz Brands in a report on Friday, August 2nd. Finally, Barclays lowered their target price on Utz Brands from $23.00 to $19.00 and set an “overweight” rating for the company in a report on Friday, July 19th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $20.36.

Utz Brands 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.