Utz Brands, Inc. (NYSE:UTZ) Major Shareholder Chinh Chu Sells 1,500,000 Shares

Utz Brands, Inc. (NYSE:UTZ – Get Rating) major shareholder Chinh Chu sold 1,500,000 shares of the company’s stock in a transaction that occurred on Friday, March 17th. The stock was sold at an average price of $16.66, for a total value of $24,990,000.00. Following the sale, the insider now owns 3,648,380 shares of the company’s stock, valued at approximately $60,782,010.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Utz Brands Trading Down 8.1 %

NYSE:UTZ opened at $16.12 on Friday. The stock has a fifty day moving average price of $16.56 and a two-hundred day moving average price of $16.46. The company has a current ratio of 1.57, a quick ratio of 1.07 and a debt-to-equity ratio of 0.63. Utz Brands, Inc. has a 1 year low of $12.06 and a 1 year high of $19.98.

Utz Brands (NYSE:UTZ – Get Rating) last released its quarterly earnings data on Thursday, March 2nd. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.03. The firm had revenue of $354.70 million during the quarter, compared to analysts’ expectations of $336.71 million. Utz Brands had a positive return on equity of 5.37% and a negative net margin of 0.03%. Utz Brands’s revenue was up 17.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.11 earnings per share. As a group, equities research analysts forecast that Utz Brands, Inc. will post 0.54 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Legal & General Group Plc increased its position in shares of Utz Brands by 2.6% in the fourth quarter. Legal & General Group Plc now owns 25,214 shares of the company’s stock valued at $400,000 after buying an additional 638 shares in the last quarter. Arizona State Retirement System increased its position in shares of Utz Brands by 3.9% in the fourth quarter. Arizona State Retirement System now owns 18,242 shares of the company’s stock valued at $289,000 after buying an additional 692 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Utz Brands by 7.7% in the first quarter. Principal Financial Group Inc. now owns 10,808 shares of the company’s stock valued at $160,000 after buying an additional 769 shares in the last quarter. Outfitter Financial LLC increased its position in shares of Utz Brands by 1.7% in the third quarter. Outfitter Financial LLC now owns 47,245 shares of the company’s stock valued at $713,000 after buying an additional 805 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. increased its position in shares of Utz Brands by 2.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 34,189 shares of the company’s stock valued at $472,000 after buying an additional 830 shares in the last quarter. Hedge funds and other institutional investors own 46.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group upped their price target on Utz Brands from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, March 3rd.

About Utz Brands

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UTZ Brands, Inc manufactures, markets, and distributes branded snacking products. It offers a broad range of salty snacks, including potato chips, pretzels, cheese, veggie, other snacks and pork skins. The firm’s brands include Utz, Zapp’s, Golden Flake, Good Health, Boulder Canyon and Hawaiian. The company was founded in 1921 and is headquartered in Hanover, PA.