Dark Forest Capital Management LP Purchases New Shares in Utz Brands, Inc. (NYSE:UTZ)

Dark Forest Capital Management LP purchased a new stake in shares of Utz Brands, Inc. (NYSE:UTZ) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 22,754 shares of the company’s stock, valued at approximately $379,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its stake in Utz Brands by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 545,867 shares of the company’s stock worth $8,865,000 after purchasing an additional 12,232 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Utz Brands by 26.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,212,493 shares of the company’s stock worth $19,691,000 after buying an additional 250,557 shares during the period. UBS Group AG lifted its stake in shares of Utz Brands by 1.5% during the 4th quarter. UBS Group AG now owns 603,579 shares of the company’s stock worth $9,802,000 after acquiring an additional 8,936 shares during the last quarter. Parallel Advisors LLC boosted its holdings in Utz Brands by 11.6% during the 4th quarter. Parallel Advisors LLC now owns 9,924 shares of the company’s stock valued at $161,000 after acquiring an additional 1,033 shares during the period. Finally, Waterloo Capital L.P. bought a new position in Utz Brands in the 4th quarter valued at $169,000. Hedge funds and other institutional investors own 95.97% of the company’s stock.

Utz Brands Stock Performance

Shares of UTZ stock opened at $17.89 on Friday. The company’s 50 day moving average is $16.82 and its 200 day moving average is $17.38. The company has a quick ratio of 1.21, a current ratio of 1.69 and a debt-to-equity ratio of 0.57. The firm has a market cap of $2.52 billion, a price-to-earnings ratio of -71.56, a PEG ratio of 1.18 and a beta of 1.01. Utz Brands, Inc. has a 52-week low of $11.17 and a 52-week high of $20.04.

Utz Brands (NYSE:UTZ) last released its quarterly 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 return on equity of 6.79% and a net margin of 0.29%. The firm had revenue of $356.20 million during the quarter, compared to analyst estimates of $356.23 million. During the same period in the previous year, the company posted $0.13 EPS. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Utz Brands, Inc. will post 0.74 EPS for the current fiscal year.

Utz Brands Announces Dividend

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

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other news, Director Bruce John Lindeman bought 4,000 shares of the stock in a transaction on Monday, August 5th. The stock was bought at an average cost of $16.11 per share, for a total transaction of $64,440.00. Following the completion of the purchase, the director now directly owns 42,480 shares in the company, valued at $684,352.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 17.00% of the stock is currently owned by company insiders.

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.