NFJ Investment Group LLC Invests $1.65 Million in Utz Brands, Inc. (NYSE:UTZ)

NFJ Investment Group LLC bought a new position in shares of Utz Brands, Inc. (NYSE:UTZ) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 93,258 shares of the company’s stock, valued at approximately $1,651,000.

A number of other institutional investors also recently modified their holdings of UTZ. Fifth Third Bancorp purchased a new stake in shares of Utz Brands during the second quarter worth about $44,000. Canada Pension Plan Investment Board bought a new position in Utz Brands in the second quarter worth about $80,000. SG Americas Securities LLC bought a new position in Utz Brands in the second quarter worth about $103,000. nVerses Capital LLC bought a new position in Utz Brands in the third quarter worth about $142,000. Finally, XTX Topco Ltd bought a new position in Utz Brands in the second quarter worth about $185,000. 95.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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

Utz Brands Price Performance

Shares of NYSE UTZ opened at $17.23 on Thursday. Utz Brands, Inc. has a fifty-two week low of $13.20 and a fifty-two week high of $20.04. The company has a 50 day simple moving average of $17.10 and a two-hundred day simple moving average of $17.03. The company has a market capitalization of $2.43 billion, a price-to-earnings ratio of -90.68, a P/E/G ratio of 1.19 and a beta of 1.01. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.85 and a current ratio of 1.21.

Utz Brands (NYSE:UTZ) last announced its earnings results on Thursday, October 31st. The company reported $0.21 earnings per share 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 business had revenue of $365.50 million during the quarter, compared to the consensus estimate of $363.98 million. During the same quarter last year, the firm earned $0.17 earnings per share. The business’s revenue for the quarter was down 1.7% on a year-over-year basis. Analysts expect that Utz Brands, Inc. will post 0.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. 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. Piper Sandler increased their price target on shares of Utz Brands from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average 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.