King Luther Capital Management Corp Increases Stock Holdings in Utz Brands, Inc. (NYSE:UTZ)

King Luther Capital Management Corp boosted its position in shares of Utz Brands, Inc. (NYSE:UTZ) by 42.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 243,146 shares of the company’s stock after acquiring an additional 72,756 shares during the period. King Luther Capital Management Corp owned 0.17% of Utz Brands worth $4,304,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of UTZ. Picton Mahoney Asset Management bought a new position in shares of Utz Brands in the second quarter worth $5,422,000. Victory Capital Management Inc. increased 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 worth $26,091,000 after acquiring an additional 235,622 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Utz Brands in the 2nd quarter valued at about $1,981,000. GSA Capital Partners LLP boosted its position in shares of Utz Brands by 100.0% during the 3rd quarter. GSA Capital Partners LLP now owns 165,896 shares of the company’s stock valued at $2,936,000 after acquiring an additional 82,935 shares during the last quarter. Finally, Bahl & Gaynor Inc. grew its holdings in shares of Utz Brands by 45.1% during the second quarter. Bahl & Gaynor Inc. now owns 239,961 shares of the company’s stock worth $3,993,000 after purchasing an additional 74,633 shares in the last quarter. 95.97% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Cc Collier Holdings, Llc sold 2,815,404 shares of Utz Brands stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $17.29, for a total value of $48,678,335.16. Following the sale, the insider now owns 496,038 shares in the company, valued at $8,576,497.02. The trade was a 85.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Cary Devore sold 30,000 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $17.32, for a total transaction of $519,600.00. Following the transaction, the executive vice president now directly owns 451,117 shares in the company, valued at approximately $7,813,346.44. The trade was a 6.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 17.00% of the company’s stock.

Analyst Upgrades and Downgrades

UTZ has been the topic of a number of recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $22.00 target price on shares of Utz Brands in a research note on Friday, August 2nd. Mizuho lowered their price objective on shares of Utz Brands from $24.00 to $21.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Finally, Piper Sandler upped their target price on shares of Utz Brands from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Utz Brands presently has an average rating of “Moderate Buy” and an average price target of $21.22.

Utz Brands Stock Performance

Utz Brands stock opened at $17.10 on Friday. The firm has a fifty day simple moving average of $17.21 and a two-hundred day simple moving average of $17.11. Utz Brands, Inc. has a twelve month low of $12.99 and a twelve month high of $20.04. The company has a market capitalization of $2.41 billion, a PE ratio of -90.00, a P/E/G ratio of 1.14 and a beta of 1.01. The company has a quick ratio of 0.85, a current ratio of 1.21 and a debt-to-equity ratio of 0.56.

Utz Brands (NYSE:UTZ) last issued its earnings results on Thursday, October 31st. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.01. Utz Brands had a positive return on equity of 7.25% and a negative net margin of 0.99%. The company had revenue of $365.50 million during the quarter, compared to analysts’ expectations of $363.98 million. During the same period in the prior year, the business posted $0.17 EPS. Utz Brands’s quarterly revenue was down 1.7% compared to the same quarter last year. Research analysts expect that Utz Brands, Inc. will post 0.73 EPS for the current year.

Utz Brands Dividend Announcement

The company also recently declared a None dividend, which was paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th were given a dividend of $0.011 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a yield of 1.3%. Utz Brands’s payout ratio is currently -121.05%.

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.