Quantbot Technologies LP Has $745,000 Position in Utz Brands, Inc. (NYSE:UTZ)

Quantbot Technologies LP lessened its holdings in Utz Brands, Inc. (NYSE:UTZ) by 36.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,082 shares of the company’s stock after selling 24,585 shares during the quarter. Quantbot Technologies LP’s holdings in Utz Brands were worth $745,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in UTZ. Victory Capital Management Inc. raised its stake in shares of Utz Brands by 19.0% during the third quarter. Victory Capital Management Inc. now owns 1,474,047 shares of the company’s stock valued at $26,091,000 after acquiring an additional 235,622 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of Utz Brands by 2.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 696,019 shares of the company’s stock valued at $11,582,000 after buying an additional 14,647 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Utz Brands by 5.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 571,161 shares of the company’s stock valued at $10,110,000 after buying an additional 28,484 shares during the period. Bank of New York Mellon Corp raised its position in shares of Utz Brands by 2.6% during the second quarter. Bank of New York Mellon Corp now owns 446,918 shares of the company’s stock worth $7,437,000 after acquiring an additional 11,492 shares during the last quarter. Finally, First Eagle Investment Management LLC lifted its stake in shares of Utz Brands by 1.0% in the second quarter. First Eagle Investment Management LLC now owns 441,396 shares of the company’s stock worth $7,345,000 after acquiring an additional 4,550 shares during the period. 95.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Utz Brands

In related news, insider Cc Collier Holdings, Llc sold 2,815,404 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 496,038 shares in the company, valued at approximately $8,576,497.02. The trade was a 85.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Cary Devore sold 30,000 shares of Utz Brands stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $17.32, for a total transaction of $519,600.00. Following the transaction, the executive vice president now directly owns 451,117 shares in the company, valued at approximately $7,813,346.44. This represents a 6.24 % decrease in their position. The disclosure for this sale can be found here. 17.00% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have issued reports on UTZ. Piper Sandler raised their price target on shares of Utz Brands from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Mizuho dropped their target price on shares of Utz Brands from $24.00 to $21.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $21.22.

Utz Brands Stock Performance

Shares of UTZ opened at $17.26 on Tuesday. The stock has a 50-day moving average of $17.12 and a 200-day moving average of $17.04. Utz Brands, Inc. has a one year low of $13.20 and a one year high of $20.04. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.21 and a quick ratio of 0.85. The company has a market cap of $2.43 billion, a PE ratio of -90.84, a P/E/G ratio of 1.20 and a beta of 1.01.

Utz Brands (NYSE:UTZ) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.20 by $0.01. Utz Brands had a positive return on equity of 7.25% and a negative net margin of 0.99%. 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 company posted $0.17 earnings per share. The company’s quarterly revenue was down 1.7% on a year-over-year basis. On average, equities research analysts predict that Utz Brands, Inc. will post 0.73 EPS for the current fiscal year.

Utz Brands Announces Dividend

The business also recently announced a None dividend, which was paid on Thursday, October 3rd. Investors of record on Monday, September 16th were given a dividend of $0.011 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a dividend yield of 1.3%. Utz Brands’s payout ratio is -121.05%.

About Utz Brands

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.