M&T Bank Corp Acquires 2,011 Shares of Utz Brands, Inc. (NYSE:UTZ)

M&T Bank Corp raised its stake in shares of Utz Brands, Inc. (NYSE:UTZ) by 18.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,678 shares of the company’s stock after purchasing an additional 2,011 shares during the period. M&T Bank Corp’s holdings in Utz Brands were worth $198,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of UTZ. Newton One Investments LLC bought a new position in shares of Utz Brands during the fourth quarter worth about $26,000. Venturi Wealth Management LLC acquired a new stake in Utz Brands during the 4th quarter valued at approximately $54,000. Moody National Bank Trust Division acquired a new stake in Utz Brands during the 4th quarter valued at approximately $169,000. Ballentine Partners LLC acquired a new stake in Utz Brands during the 4th quarter valued at approximately $220,000. Finally, Neo Ivy Capital Management acquired a new stake in Utz Brands during the 3rd quarter valued at approximately $282,000. 95.97% of the stock is owned by institutional investors and hedge funds.

Utz Brands Price Performance

Shares of UTZ opened at $13.29 on Friday. Utz Brands, Inc. has a 12-month low of $12.71 and a 12-month high of $20.04. The business’s fifty day moving average is $13.72 and its 200 day moving average is $15.86. 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 stock has a market cap of $1.88 billion, a P/E ratio of 73.82, a P/E/G ratio of 0.86 and a beta of 1.05.

Utz Brands (NYSE:UTZ) last issued its earnings results on Thursday, February 20th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.03. Utz Brands had a return on equity of 7.92% and a net margin of 1.13%. The company had revenue of $341.05 million for the quarter, compared to analysts’ expectations of $349.93 million. During the same period last year, the business earned $0.16 EPS. Sell-side analysts anticipate that Utz Brands, Inc. will post 0.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Howard A. Friedman acquired 3,525 shares of the company’s stock in a transaction on Monday, February 24th. The shares were acquired at an average cost of $14.16 per share, for a total transaction of $49,914.00. Following the purchase, the chief executive officer now owns 265,729 shares in the company, valued at approximately $3,762,722.64. The trade was a 1.34 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Cc Collier Holdings, Llc sold 496,038 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $13.40, for a total value of $6,646,909.20. The disclosure for this sale can be found here. 17.00% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Royal Bank of Canada decreased their target price on shares of Utz Brands from $23.00 to $20.00 and set an “outperform” rating for the company in a research report on Monday, February 24th. DA Davidson decreased their target price on shares of Utz Brands from $18.00 to $16.00 and set a “neutral” rating for the company in a research report on Monday, February 24th. Barclays decreased their target price on shares of Utz Brands from $19.00 to $17.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Piper Sandler cut their price target on Utz Brands from $24.00 to $20.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Finally, Mizuho cut their price target on Utz Brands from $21.00 to $19.00 and set an “outperform” rating on the stock in a report on Monday, February 10th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Utz Brands has an average rating of “Moderate Buy” and a consensus price target of $19.25.

About Utz Brands

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.