Utz Brands, Inc. (NYSE:UTZ) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its position in Utz Brands, Inc. (NYSE:UTZ - Free Report) by 5.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 365,026 shares of the company's stock after selling 22,833 shares during the period. Bank of New York Mellon Corp owned about 0.26% of Utz Brands worth $5,716,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of UTZ. Newton One Investments LLC purchased a new stake in shares of Utz Brands in the fourth quarter valued at $26,000. Venturi Wealth Management LLC purchased a new stake in Utz Brands in the 4th quarter valued at about $54,000. Moody National Bank Trust Division purchased a new position in shares of Utz Brands during the 4th quarter worth about $169,000. Ballentine Partners LLC acquired a new stake in shares of Utz Brands in the fourth quarter worth approximately $220,000. Finally, Neo Ivy Capital Management acquired a new stake in shares of Utz Brands in the third quarter worth approximately $282,000. 95.97% of the stock is owned by institutional investors and hedge funds.

Utz Brands Stock Up 0.8 %

NYSE:UTZ traded up $0.11 during trading hours on Thursday, hitting $13.66. The stock had a trading volume of 812,419 shares, compared to its average volume of 783,177. The business has a 50 day simple moving average of $13.67 and a two-hundred day simple moving average of $15.79. Utz Brands, Inc. has a 1-year low of $12.71 and a 1-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. The company has a market cap of $1.93 billion, a PE ratio of 75.75, a price-to-earnings-growth ratio of 0.86 and a beta of 1.05.

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Utz Brands (NYSE:UTZ - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.03. The firm had revenue of $341.05 million for the quarter, compared to the consensus estimate of $349.93 million. Utz Brands had a net margin of 1.13% and a return on equity of 7.92%. During the same quarter in the previous year, the firm posted $0.16 EPS. Analysts predict that Utz Brands, Inc. will post 0.85 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on UTZ. Barclays decreased their price target on shares of Utz Brands from $19.00 to $17.00 and set an "overweight" rating on the stock in a report on Friday, January 17th. Mizuho dropped their price target on Utz Brands from $21.00 to $19.00 and set an "outperform" rating for the company in a research note on Monday, February 10th. Royal Bank of Canada cut their price objective on Utz Brands from $23.00 to $20.00 and set an "outperform" rating on the stock in a report on Monday, February 24th. DA Davidson decreased their target price on Utz Brands from $18.00 to $16.00 and set a "neutral" rating for the company in a report on Monday, February 24th. Finally, TD Cowen cut their price target on shares of Utz Brands from $21.00 to $17.00 and set a "buy" rating on the stock in a report on Wednesday, January 8th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $19.25.

Insider Buying and Selling

In other news, CEO Howard A. Friedman acquired 3,525 shares of Utz Brands stock in a transaction that occurred on Monday, February 24th. The shares were purchased at an average cost of $14.16 per share, for a total transaction of $49,914.00. Following the completion of the purchase, the chief executive officer now directly owns 265,729 shares of the company's stock, valued at $3,762,722.64. This trade represents a 1.34 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Cc Collier Holdings, Llc sold 496,038 shares of the business's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $13.40, for a total transaction of $6,646,909.20. The disclosure for this sale can be found here. Insiders own 17.00% of the company's stock.

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.