King Luther Capital Management Corp Buys 72,756 Shares of Utz Brands, Inc. (NYSE:UTZ)

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

Several other institutional investors and hedge funds also recently made changes to their positions in UTZ. Victory Capital Management Inc. grew its holdings in Utz Brands by 19.0% during 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. Envestnet Asset Management Inc. lifted its holdings in shares of Utz Brands by 2.1% during the second quarter. Envestnet Asset Management Inc. now owns 696,019 shares of the company's stock worth $11,582,000 after purchasing an additional 14,647 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Utz Brands by 2.6% in the second quarter. Bank of New York Mellon Corp now owns 446,918 shares of the company's stock worth $7,437,000 after purchasing an additional 11,492 shares during the last quarter. First Eagle Investment Management LLC increased its holdings in Utz Brands by 1.0% in the second quarter. First Eagle Investment Management LLC now owns 441,396 shares of the company's stock valued at $7,345,000 after purchasing an additional 4,550 shares during the period. Finally, Picton Mahoney Asset Management bought a new position in Utz Brands during the 2nd quarter worth $5,422,000. Institutional investors and hedge funds own 95.97% of the company's stock.

Analyst Upgrades and Downgrades

UTZ has been the topic of a number of analyst reports. Mizuho reduced their price target on Utz Brands from $24.00 to $21.00 and set an "outperform" rating on the stock in a research report on Monday, November 4th. Piper Sandler increased their target price on shares of Utz Brands from $22.00 to $24.00 and gave the company an "overweight" rating in a research report on Friday, November 1st. Finally, Needham & Company LLC restated a "buy" rating and set a $22.00 price target on shares of Utz Brands in a report on Friday, August 2nd. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Utz Brands has a consensus rating of "Moderate Buy" and a consensus price target of $21.22.

Utz Brands Trading Up 1.1 %

Shares of Utz Brands stock traded up $0.19 on Friday, reaching $17.10. 534,144 shares of the company's stock were exchanged, compared to its average volume of 785,600. The company has a market capitalization of $2.41 billion, a P/E ratio of -90.00, a price-to-earnings-growth ratio of 1.16 and a beta of 1.01. Utz Brands, Inc. has a 52 week low of $12.99 and a 52 week high of $20.04. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.85 and a current ratio of 1.21. The firm's 50-day moving average is $17.21 and its two-hundred day moving average is $17.09.

Utz Brands (NYSE:UTZ - Get Free Report) last issued its earnings results on Thursday, October 31st. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.01. Utz Brands had a negative net margin of 0.99% and a positive return on equity of 7.25%. The business had revenue of $365.50 million for the quarter, compared to analyst estimates of $363.98 million. During the same period in the prior year, the firm earned $0.17 earnings per share. Utz Brands's revenue was down 1.7% on a year-over-year basis. Sell-side analysts predict that Utz Brands, Inc. will post 0.73 EPS for the current fiscal year.

Utz Brands Dividend Announcement

The company also recently announced a None dividend, which was paid on Thursday, October 3rd. Investors of record on Monday, September 16th were given a $0.011 dividend. This represents a yield of 1.3%. The ex-dividend date was Monday, September 16th. Utz Brands's payout ratio is -126.32%.

Insider Buying and Selling

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