Renaissance Technologies LLC Buys Shares of 53,500 Utz Brands, Inc. (NYSE:UTZ)

Renaissance Technologies LLC purchased a new position in shares of Utz Brands, Inc. (NYSE:UTZ) in the 2nd quarter, Holdings Channel reports. The firm purchased 53,500 shares of the company’s stock, valued at approximately $890,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in UTZ. Fifth Third Bancorp acquired a new position in Utz Brands in the second quarter valued at $44,000. SG Americas Securities LLC acquired a new position in Utz Brands in the second quarter valued at approximately $103,000. Waterloo Capital L.P. bought a new position in shares of Utz Brands during the 4th quarter worth approximately $169,000. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Utz Brands in the 1st quarter valued at $196,000. Finally, Choreo LLC bought a new position in Utz Brands during the second quarter worth $195,000. 95.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Bruce John Lindeman purchased 4,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were purchased at an average price of $16.11 per share, with a total value of $64,440.00. Following the completion of the acquisition, the director now owns 42,480 shares in the company, valued at $684,352.80. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 17.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on UTZ shares. 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. Piper Sandler reissued an “overweight” rating and issued a $22.00 price objective on shares of Utz Brands in a research note on Wednesday, August 21st. Finally, Barclays decreased their price objective on Utz Brands from $23.00 to $19.00 and set an “overweight” rating for the company in a report on Friday, July 19th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $20.36.

Utz Brands Stock Performance

Shares of UTZ stock opened at $16.90 on Tuesday. The firm’s 50 day moving average is $17.10 and its 200 day moving average is $17.35. The stock has a market capitalization of $2.38 billion, a P/E ratio of -67.60, a PEG ratio of 1.18 and a beta of 1.01. Utz Brands, Inc. has a 12 month low of $11.17 and a 12 month high of $20.04. The company has a current ratio of 1.69, a quick ratio of 1.21 and a debt-to-equity ratio of 0.57.

Utz Brands (NYSE:UTZ) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. Utz Brands had a return on equity of 6.79% and a net margin of 0.29%. The firm had revenue of $356.20 million during the quarter, compared to analyst estimates of $356.23 million. During the same period last year, the company earned $0.13 earnings per share. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. On average, sell-side analysts anticipate that Utz Brands, Inc. will post 0.74 earnings per share for the current year.

Utz Brands Announces Dividend

The company also recently disclosed a None dividend, which was paid on Thursday, October 3rd. Investors of record on Monday, September 16th were paid a dividend of $0.011 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a yield of 1.3%. Utz Brands’s dividend payout ratio is currently -92.00%.

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.