Renaissance Technologies LLC Buys Shares of 53,500 Utz Brands, Inc. (NYSE:UTZ)

Renaissance Technologies LLC bought a new position in Utz Brands, Inc. (NYSE:UTZ - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 53,500 shares of the company's stock, valued at approximately $890,000.

Other institutional investors also recently added to or reduced their stakes in the company. Orion Portfolio Solutions LLC lifted its holdings in shares of Utz Brands by 64.5% in the first quarter. Orion Portfolio Solutions LLC now owns 96,992 shares of the company's stock worth $1,789,000 after buying an additional 38,047 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Utz Brands by 4.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 57,879 shares of the company's stock worth $1,068,000 after acquiring an additional 2,540 shares during the period. Principal Financial Group Inc. purchased a new stake in Utz Brands in the second quarter worth $914,000. Bahl & Gaynor Inc. lifted its position in Utz Brands by 45.1% during the second quarter. Bahl & Gaynor Inc. now owns 239,961 shares of the company's stock valued at $3,993,000 after buying an additional 74,633 shares during the period. Finally, Victory Capital Management Inc. lifted its position in Utz Brands by 22.0% during the second quarter. Victory Capital Management Inc. now owns 1,238,425 shares of the company's stock valued at $20,607,000 after buying an additional 223,462 shares during the period. Institutional investors own 95.97% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on UTZ shares. Barclays lowered their price target on Utz Brands from $23.00 to $19.00 and set an "overweight" rating for the company in a research report on Friday, July 19th. Needham & Company LLC reiterated a "buy" rating and set a $22.00 price objective on shares of Utz Brands in a research note on Friday, August 2nd. Finally, Piper Sandler reiterated an "overweight" rating and set a $22.00 price objective on shares of Utz Brands in a research note on Wednesday, August 21st. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, Utz Brands has an average rating of "Moderate Buy" and an average target price of $20.36.

Insiders Place Their Bets

In other Utz Brands news, Director Bruce John Lindeman purchased 4,000 shares of the company's stock in a transaction on Monday, August 5th. The shares were purchased at an average cost of $16.11 per share, for a total transaction of $64,440.00. Following the completion of the transaction, the director now owns 42,480 shares in the company, valued at $684,352.80. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 17.00% of the stock is currently owned by corporate insiders.

Utz Brands Price Performance

Shares of UTZ traded up $0.30 during mid-day trading on Tuesday, hitting $17.20. The company's stock had a trading volume of 499,343 shares, compared to its average volume of 776,990. The company has a current ratio of 1.69, a quick ratio of 1.21 and a debt-to-equity ratio of 0.57. The firm has a 50-day simple moving average of $17.15 and a 200 day simple moving average of $17.34. The firm has a market capitalization of $2.42 billion, a P/E ratio of -68.36, a P/E/G ratio of 1.18 and a beta of 1.01. Utz Brands, Inc. has a 1-year low of $11.17 and a 1-year high of $20.04.

Utz Brands (NYSE:UTZ - Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.03. The company had revenue of $356.20 million during the quarter, compared to the consensus estimate of $356.23 million. Utz Brands had a return on equity of 6.79% and a net margin of 0.29%. Utz Brands's revenue was down 1.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.13 earnings per share. Analysts predict that Utz Brands, Inc. will post 0.74 EPS for the current fiscal year.

Utz Brands Announces Dividend

The business also recently declared a None dividend, which was paid on Thursday, October 3rd. Investors of record on Monday, September 16th were paid a $0.011 dividend. The ex-dividend date was Monday, September 16th. This represents a dividend yield of 1.3%. Utz Brands's dividend payout ratio (DPR) is presently -92.00%.

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.