Victory Capital Management Inc. Buys 235,622 Shares of Utz Brands, Inc. (NYSE:UTZ)

Victory Capital Management Inc. lifted its holdings in shares of Utz Brands, Inc. (NYSE:UTZ - Free Report) by 19.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,474,047 shares of the company's stock after purchasing an additional 235,622 shares during the quarter. Victory Capital Management Inc. owned 1.05% of Utz Brands worth $26,091,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of UTZ. Picton Mahoney Asset Management acquired a new stake in Utz Brands during the 2nd quarter worth approximately $5,422,000. Mercer Global Advisors Inc. ADV acquired a new position in Utz Brands in the 2nd quarter worth $1,981,000. GSA Capital Partners LLP increased its holdings in Utz Brands by 100.0% during the 3rd quarter. GSA Capital Partners LLP now owns 165,896 shares of the company's stock worth $2,936,000 after purchasing an additional 82,935 shares in the last quarter. Bahl & Gaynor Inc. raised its stake in shares of Utz Brands by 45.1% in the 2nd quarter. Bahl & Gaynor Inc. now owns 239,961 shares of the company's stock valued at $3,993,000 after purchasing an additional 74,633 shares during the period. Finally, Principal Financial Group Inc. bought a new stake in shares of Utz Brands in the second quarter valued at about $914,000. Institutional investors own 95.97% of the company's stock.

Utz Brands Stock Performance

Utz Brands stock traded up $0.12 during mid-day trading on Monday, hitting $16.42. 603,652 shares of the company's stock traded hands, compared to its average volume of 763,632. The firm has a 50 day simple moving average of $17.27 and a two-hundred day simple moving average of $17.14. 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 $2.31 billion, a price-to-earnings ratio of -86.42, a P/E/G ratio of 1.12 and a beta of 1.01. Utz Brands, Inc. has a fifty-two week low of $12.81 and a fifty-two week high of $20.04.

Utz Brands (NYSE:UTZ - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $365.50 million during the quarter, compared to the consensus estimate of $363.98 million. Utz Brands had a negative net margin of 0.99% and a positive return on equity of 7.25%. The business's revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period last year, the business posted $0.17 earnings per share. On average, research analysts expect that Utz Brands, Inc. will post 0.73 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. This represents a yield of 1.3%. The ex-dividend date was Monday, September 16th. Utz Brands's dividend payout ratio (DPR) is presently -126.32%.

Insiders Place Their Bets

In other news, insider Cc Collier Holdings, Llc sold 2,815,404 shares of the firm'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 completion of the transaction, the insider now directly owns 496,038 shares in the company, valued at $8,576,497.02. This trade represents a 85.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $519,600.00. Following the completion of the sale, the executive vice president now owns 451,117 shares in the company, valued at $7,813,346.44. The trade was a 6.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 17.00% of the company's stock.

Analyst Upgrades and Downgrades

UTZ has been the subject of a number of research reports. Needham & Company LLC reiterated a "buy" rating and set a $22.00 price objective on shares of Utz Brands in a report on Friday, August 2nd. Mizuho decreased their price target on shares of Utz Brands from $24.00 to $21.00 and set an "outperform" rating for the company in a research note on Monday, November 4th. Finally, Piper Sandler boosted their price objective on shares of Utz Brands from $22.00 to $24.00 and gave the stock an "overweight" rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price 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.