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

Victory Capital Management Inc. raised its position in Utz Brands, Inc. (NYSE:UTZ) by 22.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,238,425 shares of the company’s stock after purchasing an additional 223,462 shares during the period. Victory Capital Management Inc.’s holdings in Utz Brands were worth $20,607,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Russell Investments Group Ltd. boosted its holdings in shares of Utz Brands by 20.9% during the fourth quarter. Russell Investments Group Ltd. now owns 59,263 shares of the company’s stock worth $962,000 after purchasing an additional 10,236 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Utz Brands by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 545,867 shares of the company’s stock worth $8,865,000 after buying an additional 12,232 shares during the period. Dimensional Fund Advisors LP boosted its stake in Utz Brands by 26.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,212,493 shares of the company’s stock worth $19,691,000 after buying an additional 250,557 shares during the last quarter. First Eagle Investment Management LLC grew its holdings in Utz Brands by 11.5% in the 4th quarter. First Eagle Investment Management LLC now owns 455,946 shares of the company’s stock valued at $7,405,000 after buying an additional 46,919 shares during the period. Finally, UBS Group AG grew its holdings in Utz Brands by 1.5% in the 4th quarter. UBS Group AG now owns 603,579 shares of the company’s stock valued at $9,802,000 after buying an additional 8,936 shares during the period. 95.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on UTZ. Barclays lowered their price target on Utz Brands from $23.00 to $19.00 and set an “overweight” rating for the company in a report on Friday, July 19th. Piper Sandler restated an “overweight” rating and issued a $22.00 price target on shares of Utz Brands in a report on Wednesday, August 21st. Finally, Needham & Company LLC restated a “buy” rating and issued a $22.00 price target on shares of Utz Brands in a report on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $20.17.

Insiders Place Their Bets

In other news, Director Bruce John Lindeman purchased 4,000 shares of Utz Brands stock in a transaction dated Monday, August 5th. The stock was bought 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 approximately $684,352.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 17.00% of the stock is currently owned by corporate insiders.

Utz Brands Stock Up 1.3 %

Shares of NYSE:UTZ opened at $17.52 on Friday. The company has a current ratio of 1.69, a quick ratio of 1.21 and a debt-to-equity ratio of 0.57. The company has a fifty day simple moving average of $16.34 and a 200 day simple moving average of $17.40. The firm has a market cap of $2.47 billion, a PE ratio of -70.08, a price-to-earnings-growth ratio of 1.22 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.

Utz Brands (NYSE:UTZ) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. The business had revenue of $356.20 million during the quarter, compared to analyst estimates of $356.23 million. Utz Brands had a net margin of 0.29% and a return on equity of 6.79%. The business’s revenue was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.13 earnings per share. On average, equities research analysts anticipate that Utz Brands, Inc. will post 0.73 EPS for the current fiscal year.

Utz Brands Announces Dividend

The firm also recently disclosed a None dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th will be issued a $0.011 dividend. This represents a yield of 1.3%. The ex-dividend date of this dividend is Monday, September 16th. Utz Brands’s dividend payout ratio is presently -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.