NFJ Investment Group LLC Purchases Shares of 93,258 Utz Brands, Inc. (NYSE:UTZ)

NFJ Investment Group LLC bought a new stake in Utz Brands, Inc. (NYSE:UTZ - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 93,258 shares of the company's stock, valued at approximately $1,651,000. NFJ Investment Group LLC owned approximately 0.07% of Utz Brands as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of UTZ. Picton Mahoney Asset Management bought a new stake in Utz Brands in the 2nd quarter worth about $5,422,000. Victory Capital Management Inc. grew its holdings in shares of Utz Brands by 19.0% in the third quarter. Victory Capital Management Inc. now owns 1,474,047 shares of the company's stock valued at $26,091,000 after acquiring an additional 235,622 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Utz Brands during the second quarter valued at approximately $1,981,000. GSA Capital Partners LLP lifted its holdings in Utz Brands by 100.0% during the third quarter. GSA Capital Partners LLP now owns 165,896 shares of the company's stock worth $2,936,000 after acquiring an additional 82,935 shares during the period. Finally, Bahl & Gaynor Inc. boosted its position in Utz Brands by 45.1% in 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 during the last quarter. Hedge funds and other institutional investors own 95.97% of the company's stock.

Utz Brands Stock Performance

Utz Brands stock traded down $0.41 during midday trading on Thursday, reaching $16.82. The stock had a trading volume of 531,280 shares, compared to its average volume of 752,203. The firm has a market capitalization of $2.37 billion, a PE ratio of -88.53, a P/E/G ratio of 1.18 and a beta of 1.01. Utz Brands, Inc. has a 12 month low of $13.29 and a 12 month high of $20.04. The company has a quick ratio of 0.85, a current ratio of 1.21 and a debt-to-equity ratio of 0.56. The firm's 50-day moving average price is $17.09 and its 200 day moving average price is $17.03.

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

Insiders Place Their Bets

In related news, EVP Cary Devore sold 30,000 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president now owns 451,117 shares of the company's stock, valued at approximately $7,813,346.44. This represents a 6.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Cc Collier Holdings, Llc sold 2,815,404 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider now owns 496,038 shares in the company, valued at $8,576,497.02. This represents a 85.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 17.00% of the company's stock.

Analysts Set New Price Targets

UTZ has been the topic of a number of recent analyst reports. Piper Sandler lifted their target price on Utz Brands from $22.00 to $24.00 and gave the stock an "overweight" rating in a research note on Friday, November 1st. Mizuho decreased their price objective on shares of Utz Brands from $24.00 to $21.00 and set an "outperform" rating for the company in a report on Monday, November 4th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $21.22.

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.