Rhumbline Advisers Boosts Stock Position in Utz Brands, Inc. (NYSE:UTZ)

Rhumbline Advisers grew its holdings in shares of Utz Brands, Inc. (NYSE:UTZ) by 3.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 99,286 shares of the company’s stock after buying an additional 3,466 shares during the period. Rhumbline Advisers owned 0.07% of Utz Brands worth $1,652,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. King Luther Capital Management Corp boosted its holdings in shares of Utz Brands by 175.1% in the 4th quarter. King Luther Capital Management Corp now owns 162,513 shares of the company’s stock valued at $2,639,000 after buying an additional 103,448 shares in the last quarter. Trexquant Investment LP acquired a new position in Utz Brands in the fourth quarter valued at $1,345,000. Orion Portfolio Solutions LLC grew its holdings in shares of Utz Brands by 64.5% during the first quarter. Orion Portfolio Solutions LLC now owns 96,992 shares of the company’s stock worth $1,789,000 after purchasing an additional 38,047 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Utz Brands by 4.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 57,879 shares of the company’s stock worth $1,068,000 after purchasing an additional 2,540 shares in the last quarter. Finally, Principal Financial Group Inc. purchased a new stake in shares of Utz Brands in the 2nd quarter valued at about $914,000. 95.97% of the stock is owned by institutional investors and hedge funds.

Utz Brands Price Performance

Shares of NYSE UTZ opened at $17.64 on Friday. The stock has a fifty day moving average price of $16.63 and a 200 day moving average price of $17.39. Utz Brands, Inc. has a 1-year low of $11.17 and a 1-year high of $20.04. 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 PE ratio of -70.56, a P/E/G ratio of 1.18 and a beta of 1.01.

Utz Brands (NYSE:UTZ) last released its earnings results on Thursday, August 1st. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.16 by $0.03. Utz Brands had a net margin of 0.29% and a return on equity of 6.79%. The company had revenue of $356.20 million during the quarter, compared to analysts’ expectations of $356.23 million. During the same quarter last year, the business earned $0.13 EPS. The business’s revenue was down 1.8% on a year-over-year basis. Sell-side analysts forecast that Utz Brands, Inc. will post 0.74 EPS for the current year.

Utz Brands Dividend Announcement

The firm also recently disclosed a None dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th will be issued a $0.011 dividend. This represents a yield of 1.3%. The ex-dividend date of this dividend is Monday, September 16th. Utz Brands’s dividend payout ratio is presently -92.00%.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other Utz Brands news, Director Bruce John Lindeman bought 4,000 shares of Utz Brands stock in a transaction on Monday, August 5th. The stock was bought 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 owns 42,480 shares in the company, valued at $684,352.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 17.00% of the stock is currently owned by insiders.

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.