Neuberger Berman Group LLC Reduces Stake in Utz Brands, Inc. (NYSE:UTZ)

Neuberger Berman Group LLC trimmed its stake in Utz Brands, Inc. (NYSE:UTZGet Rating) by 8.1% during the first quarter, Holdings Channel reports. The fund owned 4,026,676 shares of the company’s stock after selling 356,093 shares during the period. Neuberger Berman Group LLC’s holdings in Utz Brands were worth $59,515,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in UTZ. HighTower Advisors LLC boosted its stake in Utz Brands by 418.3% in the fourth quarter. HighTower Advisors LLC now owns 133,525 shares of the company’s stock valued at $2,121,000 after acquiring an additional 107,761 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in shares of Utz Brands in the fourth quarter valued at approximately $189,000. TD Asset Management Inc. raised its position in shares of Utz Brands by 105.9% in the fourth quarter. TD Asset Management Inc. now owns 168,276 shares of the company’s stock valued at $2,684,000 after purchasing an additional 86,550 shares during the period. JPMorgan Chase & Co. raised its position in shares of Utz Brands by 35.8% in the fourth quarter. JPMorgan Chase & Co. now owns 5,033,386 shares of the company’s stock valued at $80,283,000 after purchasing an additional 1,326,565 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of Utz Brands by 206.7% in the fourth quarter. Renaissance Technologies LLC now owns 228,500 shares of the company’s stock valued at $3,645,000 after purchasing an additional 154,000 shares during the period. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on UTZ. The Goldman Sachs Group lowered shares of Utz Brands from a “buy” rating to a “neutral” rating and boosted their price target for the company from $16.00 to $21.00 in a research report on Friday, August 12th. Credit Suisse Group boosted their price target on shares of Utz Brands to $19.00 in a research report on Monday, August 15th. Finally, Stephens upped their target price on shares of Utz Brands from $16.00 to $19.00 and gave the stock an “equal weight” rating in a report on Friday, August 12th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $19.83.

Utz Brands Stock Performance

Utz Brands stock opened at $16.06 on Monday. The firm’s 50 day simple moving average is $16.50 and its 200 day simple moving average is $14.96. The company has a current ratio of 1.58, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $2.25 billion, a PE ratio of 133.83, a price-to-earnings-growth ratio of 3.55 and a beta of 0.70. Utz Brands, Inc. has a 1-year low of $12.06 and a 1-year high of $19.98.

Utz Brands (NYSE:UTZGet Rating) last posted its quarterly earnings data on Thursday, August 11th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.01. Utz Brands had a net margin of 0.85% and a return on equity of 5.19%. The firm had revenue of $350.10 million for the quarter, compared to analysts’ expectations of $335.39 million. During the same quarter last year, the company posted $0.13 EPS. The business’s quarterly revenue was up 17.0% on a year-over-year basis. As a group, analysts expect that Utz Brands, Inc. will post 0.49 earnings per share for the current fiscal year.

Utz Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 6th. Stockholders of record on Monday, September 19th will be issued a $0.054 dividend. This represents a $0.22 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend is Friday, September 16th. Utz Brands’s payout ratio is currently 183.33%.

Insider Activity

In related news, Director Roger K. Deromedi sold 15,678 shares of the business’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $19.64, for a total value of $307,915.92. Following the completion of the sale, the director now owns 3,277,988 shares in the company, valued at approximately $64,379,684.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 17.32% of the company’s stock.

Utz Brands Profile

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Utz Brands, Inc operates as a snack food manufacturing company. It offers a range of salty snacks, including potato chips, kettle chips, tortilla chips, pretzels, cheese snacks, veggie snacks, pork skins, pub/party mixes, salsa and queso, ready-to-eat popcorn, and other snacks under the Utz, Zapp's, ON THE BORDER, Golden Flake, Good Health, Boulder Canyon, Hawaiian, TGIF, TORTIYAHS!, and other brand names.

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Institutional Ownership by Quarter for Utz Brands (NYSE:UTZ)

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