Squarepoint Ops LLC Sells 37,785 Shares of Utz Brands, Inc. (NYSE:UTZ)

Squarepoint Ops LLC reduced its holdings in shares of Utz Brands, Inc. (NYSE:UTZ - Free Report) by 54.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,983 shares of the company's stock after selling 37,785 shares during the quarter. Squarepoint Ops LLC's holdings in Utz Brands were worth $532,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Sei Investments Co. grew its holdings in Utz Brands by 9.5% during the second quarter. Sei Investments Co. now owns 205,751 shares of the company's stock worth $3,424,000 after buying an additional 17,811 shares in the last quarter. King Luther Capital Management Corp boosted its holdings in Utz Brands by 4.8% during the 2nd quarter. King Luther Capital Management Corp now owns 170,390 shares of the company's stock worth $2,835,000 after acquiring an additional 7,877 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of Utz Brands in the 2nd quarter worth $80,000. MQS Management LLC purchased a new stake in shares of Utz Brands in the second quarter valued at about $187,000. Finally, XTX Topco Ltd bought a new position in shares of Utz Brands during the second quarter valued at about $185,000. 95.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

UTZ has been the subject of a number of recent analyst reports. Barclays reduced their price objective on shares of Utz Brands from $23.00 to $19.00 and set an "overweight" rating for the company in a research report on Friday, July 19th. Piper Sandler reaffirmed an "overweight" rating and set a $22.00 price target on shares of Utz Brands in a research report on Wednesday, August 21st. Finally, Needham & Company LLC reiterated a "buy" rating and set a $22.00 price target on shares of Utz Brands in a report on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Utz Brands presently has a consensus rating of "Moderate Buy" and a consensus target price of $20.36.

Insider Buying and Selling

In other Utz Brands news, Director Bruce John Lindeman bought 4,000 shares of Utz Brands stock in a transaction that occurred on Monday, August 5th. The stock was acquired 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 directly owns 42,480 shares in the company, valued at $684,352.80. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 17.00% of the stock is currently owned by company insiders.

Utz Brands Price Performance

UTZ traded up $0.27 during trading on Thursday, reaching $16.94. 396,478 shares of the company were exchanged, compared to its average volume of 774,842. Utz Brands, Inc. has a 12-month low of $11.17 and a 12-month high of $20.04. The company's 50-day moving average is $17.23 and its two-hundred day moving average is $17.33. The company has a quick ratio of 1.21, a current ratio of 1.69 and a debt-to-equity ratio of 0.57. The company has a market cap of $2.39 billion, a price-to-earnings ratio of -67.12, a P/E/G ratio of 1.18 and a beta of 1.01.

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

Utz Brands Dividend Announcement

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