Neuberger Berman Group LLC Boosts Stock Position in Utz Brands, Inc. (NYSE:UTZ)

Neuberger Berman Group LLC increased its stake in Utz Brands, Inc. (NYSE:UTZ) by 4.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,370,865 shares of the company’s stock after acquiring an additional 248,266 shares during the period. Neuberger Berman Group LLC owned about 3.92% of Utz Brands worth $116,987,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Blueshift Asset Management LLC bought a new stake in shares of Utz Brands in the 2nd quarter valued at about $230,000. Ensign Peak Advisors Inc lifted its stake in shares of Utz Brands by 79.7% in the 2nd quarter. Ensign Peak Advisors Inc now owns 18,664 shares of the company’s stock valued at $407,000 after acquiring an additional 8,277 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Utz Brands by 119.0% in the 2nd quarter. Geode Capital Management LLC now owns 894,702 shares of the company’s stock valued at $19,495,000 after acquiring an additional 486,172 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Utz Brands by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 5,725,225 shares of the company’s stock valued at $124,753,000 after acquiring an additional 119,065 shares during the last quarter. Finally, ProShare Advisors LLC bought a new stake in shares of Utz Brands in the 2nd quarter valued at about $333,000. 41.21% of the stock is owned by institutional investors.

Shares of NYSE:UTZ opened at $15.93 on Thursday. Utz Brands, Inc. has a 52-week low of $15.05 and a 52-week high of $30.09. The stock has a 50 day moving average price of $18.39 and a 200-day moving average price of $22.25. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.71 and a quick ratio of 1.26.

Utz Brands (NYSE:UTZ) last announced its earnings results on Wednesday, August 11th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.01). Utz Brands had a positive return on equity of 3.55% and a negative net margin of 1.68%. The firm had revenue of $297.92 million during the quarter, compared to the consensus estimate of $286.69 million. On average, equities analysts anticipate that Utz Brands, Inc. will post 0.6 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, October 11th. Stockholders of record on Monday, September 20th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend was Friday, September 17th.

In related news, Director Jason K. Giordano sold 4,056 shares of the company’s stock in a transaction that occurred on Monday, October 4th. The stock was sold at an average price of $16.13, for a total value of $65,423.28. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John W. Altmeyer bought 5,000 shares of the business’s stock in a transaction on Monday, August 16th. The shares were acquired at an average price of $18.67 per share, for a total transaction of $93,350.00. The disclosure for this purchase can be found here. Insiders sold a total of 187,500 shares of company stock worth $3,120,150 in the last 90 days. 17.32% of the stock is currently owned by company insiders.

A number of research firms have recently weighed in on UTZ. The Goldman Sachs Group lowered their target price on Utz Brands from $25.00 to $20.50 and set a “neutral” rating for the company in a research note on Tuesday, August 24th. Zacks Investment Research lowered Utz Brands from a “hold” rating to a “sell” rating in a research report on Wednesday, June 30th. Finally, Stephens lowered their price target on Utz Brands from $27.00 to $23.00 and set an “overweight” rating for the company in a research report on Friday, August 13th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Utz Brands presently has a consensus rating of “Buy” and a consensus target price of $25.96.

Utz Brands Company Profile

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

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

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