King Luther Capital Management Corp Increases Stake in Utz Brands, Inc. (NYSE:UTZ)

King Luther Capital Management Corp grew its holdings in Utz Brands, Inc. (NYSE:UTZ) by 12.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 272,706 shares of the company’s stock after buying an additional 29,560 shares during the quarter. King Luther Capital Management Corp’s holdings in Utz Brands were worth $4,271,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp increased its position in shares of Utz Brands by 9.5% in the third quarter. State Street Corp now owns 1,758,961 shares of the company’s stock valued at $31,256,000 after buying an additional 152,868 shares in the last quarter. Vestcor Inc increased its position in shares of Utz Brands by 11.4% in the third quarter. Vestcor Inc now owns 296,100 shares of the company’s stock valued at $5,241,000 after buying an additional 30,400 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Utz Brands by 3.2% in the third quarter. Geode Capital Management LLC now owns 1,548,231 shares of the company’s stock valued at $27,409,000 after buying an additional 47,320 shares in the last quarter. Barclays PLC boosted its stake in shares of Utz Brands by 21.4% in the third quarter. Barclays PLC now owns 555,477 shares of the company’s stock worth $9,831,000 after acquiring an additional 97,767 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of Utz Brands by 2.5% in the fourth quarter. Victory Capital Management Inc. now owns 1,510,472 shares of the company’s stock worth $23,654,000 after acquiring an additional 36,425 shares during the last quarter. 95.97% of the stock is currently owned by hedge funds and other institutional investors.

Utz Brands Price Performance

NYSE:UTZ opened at $13.64 on Thursday. Utz Brands, Inc. has a 52 week low of $12.71 and a 52 week high of $20.04. The company has a quick ratio of 0.85, a current ratio of 1.21 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $1.93 billion, a P/E ratio of 75.75, a P/E/G ratio of 0.86 and a beta of 1.05. The stock’s fifty day moving average is $13.79 and its two-hundred day moving average is $15.91.

Utz Brands (NYSE:UTZ) last posted its earnings results on Thursday, February 20th. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.03. Utz Brands had a return on equity of 7.92% and a net margin of 1.13%. The company had revenue of $341.05 million for the quarter, compared to the consensus estimate of $349.93 million. During the same quarter in the previous year, the business earned $0.16 earnings per share. Equities analysts expect that Utz Brands, Inc. will post 0.85 EPS for the current year.

Analyst Ratings Changes

UTZ has been the topic of a number of research analyst reports. TD Cowen lowered their price target on Utz Brands from $21.00 to $17.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Piper Sandler lowered their price objective on Utz Brands from $24.00 to $20.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. Mizuho lowered their price objective on Utz Brands from $21.00 to $19.00 and set an “outperform” rating on the stock in a research note on Monday, February 10th. Barclays lowered 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, Royal Bank of Canada lowered their price objective on Utz Brands from $23.00 to $20.00 and set an “outperform” rating on the stock in a research note on Monday, February 24th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Utz Brands has an average rating of “Moderate Buy” and a consensus target price of $19.56.

Insider Buying and Selling at Utz Brands

In other news, CEO Howard A. Friedman acquired 3,525 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were purchased at an average price of $14.16 per share, for a total transaction of $49,914.00. Following the acquisition, the chief executive officer now owns 265,729 shares of the company’s stock, valued at $3,762,722.64. This represents a 1.34 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Cc Collier Holdings, Llc sold 496,038 shares of the business’s stock in a transaction 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. Company insiders own 17.00% of the company’s stock.

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.