Bahl & Gaynor Inc. Reduces Stock Holdings in Utz Brands, Inc. (NYSE:UTZ)

Bahl & Gaynor Inc. lessened its position in shares of Utz Brands, Inc. (NYSE:UTZ - Free Report) by 6.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 284,176 shares of the company's stock after selling 19,404 shares during the quarter. Bahl & Gaynor Inc. owned 0.20% of Utz Brands worth $4,450,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its holdings in Utz Brands by 1.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 576,730 shares of the company's stock valued at $9,032,000 after acquiring an additional 5,569 shares during the period. Hussman Strategic Advisors Inc. lifted its holdings in Utz Brands by 33.3% in the fourth quarter. Hussman Strategic Advisors Inc. now owns 84,000 shares of the company's stock valued at $1,315,000 after acquiring an additional 21,000 shares during the period. Handelsbanken Fonder AB lifted its holdings in Utz Brands by 18.0% in the fourth quarter. Handelsbanken Fonder AB now owns 22,300 shares of the company's stock valued at $349,000 after acquiring an additional 3,400 shares during the period. Venturi Wealth Management LLC bought a new position in Utz Brands in the fourth quarter valued at about $54,000. Finally, Truist Financial Corp lifted its holdings in Utz Brands by 11.0% in the fourth quarter. Truist Financial Corp now owns 26,917 shares of the company's stock valued at $422,000 after acquiring an additional 2,667 shares during the period. Institutional investors own 95.97% of the company's stock.

Analyst Upgrades and Downgrades

UTZ has been the topic of a number of recent research reports. Mizuho lowered their target price on Utz Brands from $21.00 to $19.00 and set an "outperform" rating on the stock in a report on Monday, February 10th. Royal Bank of Canada lowered their target price on Utz Brands from $23.00 to $20.00 and set an "outperform" rating on the stock in a report on Monday, February 24th. Piper Sandler decreased their price objective on Utz Brands from $24.00 to $20.00 and set an "overweight" rating on the stock in a research note on Thursday, January 16th. Barclays decreased their price objective on Utz Brands from $19.00 to $17.00 and set an "overweight" rating on the stock in a research note on Friday, January 17th. Finally, DA Davidson decreased their price objective on Utz Brands from $18.00 to $16.00 and set a "neutral" rating on the stock in a research note on Monday, February 24th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $19.56.

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Utz Brands Price Performance

UTZ traded up $0.25 on Friday, hitting $14.03. 3,299,740 shares of the company's stock traded hands, compared to its average volume of 1,226,580. The company's 50 day simple moving average is $13.90 and its 200-day simple moving average is $15.99. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of 77.92, a P/E/G ratio of 0.86 and a beta of 1.05. Utz Brands, Inc. has a one year low of $12.71 and a one year high of $20.04. The company has a current ratio of 1.21, a quick ratio of 0.85 and a debt-to-equity ratio of 0.56.

Utz Brands (NYSE:UTZ - Get Free Report) last issued its earnings results on Thursday, February 20th. The company reported $0.22 earnings per share (EPS) for the quarter, beating 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 return on equity of 7.92% and a net margin of 1.13%. During the same quarter last year, the company earned $0.16 EPS. As a group, research analysts anticipate that Utz Brands, Inc. will post 0.85 EPS for the current year.

Insider Activity at Utz Brands

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

About Utz Brands

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.