Intech Investment Management LLC Takes $301,000 Position in Utz Brands, Inc. (NYSE:UTZ)

Intech Investment Management LLC acquired a new stake in shares of Utz Brands, Inc. (NYSE:UTZ) during the 3rd quarter, Holdings Channel.com reports. The firm acquired 16,987 shares of the company’s stock, valued at approximately $301,000.

Other institutional investors have also modified their holdings of the company. Fifth Third Bancorp bought a new position in shares of Utz Brands during the 2nd quarter valued at about $44,000. Canada Pension Plan Investment Board bought a new position in shares of Utz Brands during the 2nd quarter valued at about $80,000. SG Americas Securities LLC bought a new position in shares of Utz Brands during the 2nd quarter valued at about $103,000. nVerses Capital LLC bought a new position in shares of Utz Brands during the 3rd quarter valued at about $142,000. Finally, XTX Topco Ltd bought a new position in shares of Utz Brands during the 2nd quarter valued at about $185,000. Institutional investors own 95.97% of the company’s stock.

Utz Brands Stock Up 0.1 %

Shares of Utz Brands stock opened at $17.23 on Thursday. The firm has a market cap of $2.43 billion, a PE ratio of -90.68, a P/E/G ratio of 1.19 and a beta of 1.01. Utz Brands, Inc. has a 52-week low of $13.20 and a 52-week high of $20.04. The business’s 50 day simple moving average is $17.10 and its 200 day simple moving average is $17.03. 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 posted its quarterly earnings results on Thursday, October 31st. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.01. The firm had revenue of $365.50 million for the quarter, compared to analyst estimates of $363.98 million. Utz Brands had a positive return on equity of 7.25% and a negative net margin of 0.99%. The business’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.17 EPS. On average, analysts predict that Utz Brands, Inc. will post 0.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In related news, insider Cc Collier Holdings, Llc sold 2,815,404 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was 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 of the company’s stock, valued at approximately $8,576,497.02. The trade was a 85.02 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Cary Devore sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $17.32, for a total value of $519,600.00. Following the transaction, the executive vice president now directly owns 451,117 shares in the company, valued at $7,813,346.44. The trade was a 6.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 17.00% of the company’s stock.

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.