Choreo LLC Invests $195,000 in Utz Brands, Inc. (NYSE:UTZ)

Choreo LLC bought a new stake in Utz Brands, Inc. (NYSE:UTZ) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 11,724 shares of the company’s stock, valued at approximately $195,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in UTZ. King Luther Capital Management Corp increased its stake in Utz Brands by 175.1% during the 4th quarter. King Luther Capital Management Corp now owns 162,513 shares of the company’s stock valued at $2,639,000 after purchasing an additional 103,448 shares in the last quarter. Trexquant Investment LP acquired a new position in shares of Utz Brands during the fourth quarter valued at about $1,345,000. Orion Portfolio Solutions LLC increased its position 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 acquiring an additional 38,047 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Utz Brands by 4.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 57,879 shares of the company’s stock worth $1,068,000 after acquiring an additional 2,540 shares during the last quarter. Finally, Principal Financial Group Inc. bought a new position in Utz Brands in the 2nd quarter valued at about $914,000. 95.97% of the stock is owned by institutional investors.

Utz Brands Stock Down 2.8 %

UTZ stock opened at $17.64 on Friday. The stock has a market cap of $2.48 billion, a P/E ratio of -70.56, a P/E/G ratio of 1.18 and a beta of 1.01. The company has a current ratio of 1.69, a quick ratio of 1.21 and a debt-to-equity ratio of 0.57. The stock’s fifty day simple moving average is $16.63 and its two-hundred day simple moving average is $17.39. Utz Brands, Inc. has a 1-year low of $11.17 and a 1-year high of $20.04.

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

Utz Brands Announces Dividend

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

Insider Activity

In related news, Director Bruce John Lindeman purchased 4,000 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average price of $16.11 per share, with a total value of $64,440.00. Following the acquisition, the director now owns 42,480 shares of the company’s stock, valued at approximately $684,352.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 17.00% of the company’s stock.

Wall Street Analysts Forecast Growth

UTZ has been the subject of a number of recent research reports. Piper Sandler reissued an “overweight” rating and set a $22.00 price objective on shares of Utz Brands in a report on Wednesday, August 21st. Needham & Company LLC reiterated a “buy” rating and set a $22.00 price target on shares of Utz Brands in a report on Friday, August 2nd. Finally, Barclays lowered their price target on Utz Brands from $23.00 to $19.00 and set an “overweight” rating for the company in a research report on Friday, July 19th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Utz Brands has an average rating of “Moderate Buy” and an average target price of $20.36.

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.