Bank of New York Mellon Corp Lowers Position in Utz Brands, Inc. (NYSE:UTZ)

Bank of New York Mellon Corp cut its holdings in Utz Brands, Inc. (NYSE:UTZ) by 5.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 365,026 shares of the company’s stock after selling 22,833 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.26% of Utz Brands worth $5,716,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Copeland Capital Management LLC increased its holdings in shares of Utz Brands by 1.9% during the fourth quarter. Copeland Capital Management LLC now owns 3,117,478 shares of the company’s stock valued at $48,820,000 after acquiring an additional 59,429 shares in the last quarter. State Street Corp boosted its position in Utz Brands by 9.5% in the 3rd quarter. State Street Corp now owns 1,758,961 shares of the company’s stock worth $31,256,000 after purchasing an additional 152,868 shares in the last quarter. Geode Capital Management LLC boosted its position in Utz Brands by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,548,231 shares of the company’s stock worth $27,409,000 after purchasing an additional 47,320 shares in the last quarter. Victory Capital Management Inc. grew its stake in Utz Brands by 19.0% in the 3rd quarter. Victory Capital Management Inc. now owns 1,474,047 shares of the company’s stock valued at $26,091,000 after acquiring an additional 235,622 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Utz Brands by 5.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 571,161 shares of the company’s stock valued at $10,110,000 after acquiring an additional 28,484 shares during the period. 95.97% of the stock is owned by hedge funds and other institutional investors.

Utz Brands Trading Down 1.0 %

NYSE:UTZ opened at $13.29 on Monday. The stock has a fifty day moving average price of $13.72 and a two-hundred day moving average price of $15.86. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of 73.82, a PEG ratio of 0.86 and a beta of 1.05. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.85 and a current ratio of 1.21. Utz Brands, Inc. has a 1 year low of $12.71 and a 1 year high of $20.04.

Utz Brands (NYSE:UTZ) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.22 earnings per share for the quarter, beating 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 business had revenue of $341.05 million during the quarter, compared to analysts’ expectations of $349.93 million. During the same quarter last year, the business posted $0.16 earnings per share. As a group, sell-side analysts anticipate that Utz Brands, Inc. will post 0.85 earnings per share for the current fiscal year.

Insider Activity at Utz Brands

In other Utz Brands news, CEO Howard A. Friedman purchased 3,525 shares of the stock in a transaction on Monday, February 24th. The stock was bought at an average price of $14.16 per share, for a total transaction of $49,914.00. Following the acquisition, the chief executive officer now directly owns 265,729 shares of the company’s stock, valued at $3,762,722.64. This represents a 1.34 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, insider Cc Collier Holdings, Llc sold 496,038 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was 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. Corporate insiders own 17.00% of the company’s stock.

Analyst Upgrades and Downgrades

UTZ has been the topic of several recent research reports. TD Cowen lowered their price target on shares of Utz Brands from $21.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. DA Davidson lowered their price objective on Utz Brands from $18.00 to $16.00 and set a “neutral” rating for the company in a research report on Monday, February 24th. Piper Sandler lowered their price target on Utz Brands from $24.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Barclays decreased their price objective on Utz Brands from $19.00 to $17.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Finally, Mizuho decreased their price objective on Utz Brands from $21.00 to $19.00 and set an “outperform” rating for the company in a report on Monday, February 10th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $19.25.

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.