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

King Luther Capital Management Corp boosted its holdings in Utz Brands, Inc. (NYSE:UTZ - Free Report) by 12.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 272,706 shares of the company's stock after buying an additional 29,560 shares during the period. King Luther Capital Management Corp owned approximately 0.19% of Utz Brands worth $4,271,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Newton One Investments LLC purchased a new position in shares of Utz Brands during the 4th quarter valued at $26,000. Rhumbline Advisers grew its position in shares of Utz Brands by 1.9% during the 4th quarter. Rhumbline Advisers now owns 95,103 shares of the company's stock valued at $1,489,000 after purchasing an additional 1,757 shares in the last quarter. M&T Bank Corp grew its position in shares of Utz Brands by 18.9% during the 4th quarter. M&T Bank Corp now owns 12,678 shares of the company's stock valued at $198,000 after purchasing an additional 2,011 shares in the last quarter. Truist Financial Corp grew its position in shares of Utz Brands by 11.0% during the 4th quarter. Truist Financial Corp now owns 26,917 shares of the company's stock valued at $422,000 after purchasing an additional 2,667 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its position in shares of Utz Brands by 18.0% during the 4th quarter. Handelsbanken Fonder AB now owns 22,300 shares of the company's stock valued at $349,000 after purchasing an additional 3,400 shares in the last quarter. 95.97% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

A number of research firms have recently commented on UTZ. TD Cowen reduced their price target on shares of Utz Brands from $21.00 to $17.00 and set a "buy" rating for the company in a research report on Wednesday, January 8th. Barclays reduced their price target on shares of Utz Brands from $19.00 to $17.00 and set an "overweight" rating for the company in a research report on Friday, January 17th. Mizuho dropped their price objective on shares of Utz Brands from $21.00 to $19.00 and set an "outperform" rating for the company in a report on Monday, February 10th. Piper Sandler dropped their price objective on shares of Utz Brands from $24.00 to $20.00 and set an "overweight" rating for the company in a report on Thursday, January 16th. Finally, DA Davidson dropped their price objective on shares of Utz Brands from $18.00 to $16.00 and set a "neutral" rating for the company in a report on Monday, February 24th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, Utz Brands has a consensus rating of "Moderate Buy" and an average price target of $19.25.

Utz Brands Trading Down 1.0 %

Utz Brands stock traded down $0.13 during mid-day trading on Friday, hitting $13.29. The company's stock had a trading volume of 672,728 shares, compared to its average volume of 777,848. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.21 and a quick ratio of 0.85. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of 73.82, a price-to-earnings-growth ratio of 0.86 and a beta of 1.05. The business has a 50 day moving average price of $13.72 and a 200-day moving average price of $15.86. Utz Brands, Inc. has a 12 month low of $12.71 and a 12 month high of $20.04.

Utz Brands (NYSE:UTZ - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.03. The business had revenue of $341.05 million during 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 period in the previous year, the firm posted $0.16 earnings per share. As a group, analysts forecast that Utz Brands, Inc. will post 0.85 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Howard A. Friedman acquired 3,525 shares of the stock in a transaction dated Monday, February 24th. The stock was purchased at an average cost of $14.16 per share, with a total value of $49,914.00. Following the completion of the purchase, the chief executive officer now owns 265,729 shares in the company, valued at approximately $3,762,722.64. The trade was a 1.34 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Cc Collier Holdings, Llc sold 496,038 shares of the company's stock in a transaction dated 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. 17.00% of the stock is currently owned by insiders.

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.