16,987 Shares in Utz Brands, Inc. (NYSE:UTZ) Bought by Intech Investment Management LLC

Intech Investment Management LLC acquired a new position in shares of Utz Brands, Inc. (NYSE:UTZ) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,987 shares of the company’s stock, valued at approximately $301,000.

Several other hedge funds have also recently bought and sold shares of the stock. Victory Capital Management Inc. raised its stake in Utz Brands by 19.0% during the third quarter. Victory Capital Management Inc. now owns 1,474,047 shares of the company’s stock worth $26,091,000 after acquiring an additional 235,622 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in Utz Brands by 2.1% during the second quarter. Envestnet Asset Management Inc. now owns 696,019 shares of the company’s stock worth $11,582,000 after acquiring an additional 14,647 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Utz Brands by 2.6% during the second quarter. Bank of New York Mellon Corp now owns 446,918 shares of the company’s stock worth $7,437,000 after acquiring an additional 11,492 shares in the last quarter. First Eagle Investment Management LLC raised its stake in Utz Brands by 1.0% during the second quarter. First Eagle Investment Management LLC now owns 441,396 shares of the company’s stock worth $7,345,000 after acquiring an additional 4,550 shares in the last quarter. Finally, Picton Mahoney Asset Management acquired a new position in Utz Brands during the second quarter worth $5,422,000. 95.97% of the stock is currently owned by institutional investors and hedge funds.

Utz Brands Price Performance

Shares of UTZ stock opened at $17.23 on Thursday. The stock has a 50-day moving average price of $17.10 and a 200 day moving average price of $17.03. The company has a quick ratio of 0.85, a current ratio of 1.21 and a debt-to-equity ratio of 0.56. The firm has a market cap of $2.43 billion, a price-to-earnings ratio of -90.68, a PEG ratio of 1.19 and a beta of 1.01. Utz Brands, Inc. has a 12 month low of $13.20 and a 12 month high of $20.04.

Utz Brands (NYSE:UTZ) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. The firm had revenue of $365.50 million during the quarter, compared to analyst estimates of $363.98 million. Utz Brands had a positive return on equity of 7.25% and a negative net margin of 0.99%. The company’s revenue was down 1.7% on a year-over-year basis. During the same period last year, the company earned $0.17 earnings per share. Research analysts expect that Utz Brands, Inc. will post 0.73 EPS for the current year.

Insider Buying and Selling

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

Analyst Ratings Changes

UTZ has been the subject of several recent analyst reports. 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 note on Monday, November 4th. Piper Sandler raised their target price on Utz Brands from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $21.22.

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.