Victory Capital Management Inc. Raises Stock Position in Utz Brands, Inc. (NYSE:UTZ)

Victory Capital Management Inc. increased its holdings in shares of Utz Brands, Inc. (NYSE:UTZ - Free Report) by 2.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,510,472 shares of the company's stock after purchasing an additional 36,425 shares during the quarter. Victory Capital Management Inc. owned 1.07% of Utz Brands worth $23,654,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of UTZ. State Street Corp lifted its stake in Utz Brands by 9.5% during the 3rd quarter. State Street Corp now owns 1,758,961 shares of the company's stock valued at $31,256,000 after acquiring an additional 152,868 shares during the period. Barclays PLC lifted its position in Utz Brands by 21.4% during the third quarter. Barclays PLC now owns 555,477 shares of the company's stock valued at $9,831,000 after purchasing an additional 97,767 shares during the period. NFJ Investment Group LLC bought a new position in shares of Utz Brands during the 3rd quarter valued at $1,651,000. GSA Capital Partners LLP boosted its stake in shares of Utz Brands by 100.0% in the 3rd quarter. GSA Capital Partners LLP now owns 165,896 shares of the company's stock worth $2,936,000 after buying an additional 82,935 shares during the last quarter. Finally, King Luther Capital Management Corp grew its holdings in shares of Utz Brands by 42.7% in the third quarter. King Luther Capital Management Corp now owns 243,146 shares of the company's stock worth $4,304,000 after acquiring an additional 72,756 shares during the period. 95.97% of the stock is owned by hedge funds and other institutional investors.

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Insider Buying and Selling

In other news, CEO Howard A. Friedman acquired 3,525 shares of the firm's stock in a transaction on Monday, February 24th. The stock was acquired at an average price of $14.16 per share, with a total value of $49,914.00. Following the completion of the purchase, the chief executive officer now directly owns 265,729 shares in the company, valued at approximately $3,762,722.64. This trade represents a 1.34 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Cc Collier Holdings, Llc sold 496,038 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $13.40, for a total value of $6,646,909.20. The disclosure for this sale can be found here. 17.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Piper Sandler reduced their target price on shares of Utz Brands from $24.00 to $20.00 and set an "overweight" rating for the company in a report on Thursday, January 16th. Mizuho reduced their price objective on Utz Brands from $21.00 to $19.00 and set an "outperform" rating for the company in a research note on Monday, February 10th. Royal Bank of Canada lowered their target price on Utz Brands from $23.00 to $20.00 and set an "outperform" rating on the stock in a research report on Monday, February 24th. Barclays decreased their price objective on Utz Brands from $19.00 to $17.00 and set an "overweight" rating on the stock in a research note on Friday, January 17th. Finally, DA Davidson reduced their target price on shares of Utz Brands from $18.00 to $16.00 and set a "neutral" rating for the company in a report on Monday, February 24th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Utz Brands currently has an average rating of "Moderate Buy" and a consensus price target of $19.56.

Utz Brands Price Performance

Utz Brands stock traded down $0.24 during midday trading on Wednesday, reaching $13.59. 468,805 shares of the stock traded hands, compared to its average volume of 782,767. The company has a quick ratio of 0.85, a current ratio of 1.21 and a debt-to-equity ratio of 0.56. Utz Brands, Inc. has a 12 month low of $12.71 and a 12 month high of $20.04. The stock's fifty day moving average is $13.83 and its 200-day moving average is $15.93. The stock has a market cap of $1.92 billion, a P/E ratio of 75.36, a PEG ratio of 0.86 and a beta of 1.05.

Utz Brands (NYSE:UTZ - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.03. Utz Brands had a net margin of 1.13% and a return on equity of 7.92%. The company had revenue of $341.05 million for the quarter, compared to analysts' expectations of $349.93 million. During the same quarter in the previous year, the business posted $0.16 earnings per share. As a group, equities research analysts anticipate that Utz Brands, Inc. will post 0.85 EPS for the current year.

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.