King Luther Capital Management Corp Acquires 72,756 Shares of Utz Brands, Inc. (NYSE:UTZ)

King Luther Capital Management Corp increased its stake in Utz Brands, Inc. (NYSE:UTZ) by 42.7% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 243,146 shares of the company’s stock after buying an additional 72,756 shares during the quarter. King Luther Capital Management Corp’s holdings in Utz Brands were worth $4,304,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in UTZ. ProShare Advisors LLC boosted its stake in Utz Brands by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 12,944 shares of the company’s stock worth $239,000 after purchasing an additional 1,017 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Utz Brands by 4.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 57,879 shares of the company’s stock valued at $1,068,000 after acquiring an additional 2,540 shares in the last quarter. Comerica Bank increased its position in shares of Utz Brands by 5.4% during the first quarter. Comerica Bank now owns 16,491 shares of the company’s stock valued at $304,000 after acquiring an additional 848 shares in the last quarter. SG Americas Securities LLC purchased a new position in Utz Brands in the 2nd quarter worth approximately $103,000. Finally, Diversified Trust Co lifted its position in Utz Brands by 4.5% in the 2nd quarter. Diversified Trust Co now owns 44,870 shares of the company’s stock valued at $747,000 after acquiring an additional 1,925 shares in the last quarter. 95.97% of the stock is owned by institutional investors.

Insider Activity

In other Utz Brands news, EVP Cary Devore sold 30,000 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $17.32, for a total transaction of $519,600.00. Following the sale, the executive vice president now directly owns 451,117 shares of the company’s stock, valued at $7,813,346.44. This trade represents a 6.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Cc Collier Holdings, Llc sold 2,815,404 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $17.29, for a total value of $48,678,335.16. Following the completion of the transaction, the insider now directly owns 496,038 shares of the company’s stock, valued at approximately $8,576,497.02. This trade represents a 85.02 % decrease in their position. The disclosure for this sale can be found here. Insiders own 17.00% of the company’s stock.

Utz Brands Stock Performance

Shares of NYSE UTZ opened at $17.10 on Friday. Utz Brands, Inc. has a 12-month low of $12.99 and a 12-month high of $20.04. The firm has a market capitalization of $2.41 billion, a price-to-earnings ratio of -90.00, a price-to-earnings-growth ratio of 1.14 and a beta of 1.01. The company has a current ratio of 1.21, a quick ratio of 0.85 and a debt-to-equity ratio of 0.56. The firm has a 50 day moving average of $17.21 and a 200 day moving average of $17.11.

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

Utz Brands Dividend Announcement

The business also recently disclosed a None dividend, which was paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th were paid a $0.011 dividend. This represents a dividend yield of 1.3%. The ex-dividend date was Monday, September 16th. Utz Brands’s dividend payout ratio (DPR) is currently -121.05%.

Analysts Set New Price Targets

Several research firms have recently weighed in on UTZ. Mizuho decreased their price target on Utz Brands from $24.00 to $21.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. Needham & Company LLC reissued a “buy” rating and issued a $22.00 target price on shares of Utz Brands in a research report on Friday, August 2nd. Finally, Piper Sandler raised their price target on shares of Utz Brands from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Utz Brands presently has a consensus rating of “Moderate Buy” and an average target price of $21.22.

Utz Brands 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.