PNC Financial Services Group Inc. Sells 1,302 Shares of Utz Brands, Inc. (NYSE:UTZ)

PNC Financial Services Group Inc. trimmed its position in Utz Brands, Inc. (NYSE:UTZ) by 13.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,355 shares of the company’s stock after selling 1,302 shares during the period. PNC Financial Services Group Inc.’s holdings in Utz Brands were worth $131,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Copeland Capital Management LLC grew 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 worth $48,820,000 after purchasing an additional 59,429 shares in the last quarter. State Street Corp grew its stake 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 buying an additional 152,868 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of 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 buying an additional 47,320 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Utz Brands by 2.5% during the 4th quarter. Victory Capital Management Inc. now owns 1,510,472 shares of the company’s stock valued at $23,654,000 after buying an additional 36,425 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Utz Brands by 1.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 576,730 shares of the company’s stock worth $9,032,000 after acquiring an additional 5,569 shares during the last quarter. 95.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Howard A. Friedman purchased 3,525 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were acquired at an average price of $14.16 per share, for a total transaction of $49,914.00. Following the completion of the acquisition, the chief executive officer now directly owns 265,729 shares in the company, valued at approximately $3,762,722.64. The trade was a 1.34 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Cc Collier Holdings, Llc sold 496,038 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $13.40, for a total transaction of $6,646,909.20. The disclosure for this sale can be found here. Insiders own 17.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on UTZ. TD Cowen reduced their target price on Utz Brands from $21.00 to $17.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Royal Bank of Canada reduced their price objective on Utz Brands from $23.00 to $20.00 and set an “outperform” rating on the stock in a research report on Monday, February 24th. Piper Sandler dropped their target price on Utz Brands from $24.00 to $20.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. DA Davidson cut their target price on Utz Brands from $18.00 to $16.00 and set a “neutral” rating for the company in a research note on Monday, February 24th. Finally, Mizuho decreased their price target on shares of Utz Brands from $21.00 to $19.00 and set an “outperform” rating on the stock in a research note on Monday, February 10th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.25.

Utz Brands Price Performance

Shares of Utz Brands stock opened at $13.68 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.21 and a quick ratio of 0.85. Utz Brands, Inc. has a one year low of $12.71 and a one year high of $20.04. The business’s 50 day simple moving average is $13.66 and its two-hundred day simple moving average is $15.70. The stock has a market capitalization of $1.93 billion, a P/E ratio of 75.99, a price-to-earnings-growth 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 EPS for the quarter, topping the consensus estimate of $0.19 by $0.03. The company had revenue of $341.05 million for the quarter, compared to the consensus estimate of $349.93 million. Utz Brands had a net margin of 1.13% and a return on equity of 7.92%. During the same period in the previous year, the firm earned $0.16 earnings per share. Analysts forecast that Utz Brands, Inc. will post 0.85 EPS for the current year.

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.