Quantinno Capital Management LP Grows Position in Utz Brands, Inc. $UTZ

Key Points

• Quantinno Capital Management increased its Utz Brands stake by 140.9% in the first quarter, bringing its holdings to 291,034 shares valued at approximately $2.3 million. Institutional investors collectively own 95.97% of the company.
• Utz reported quarterly earnings of $0.19 per share, topping estimates by $0.01, while revenue reached $371.8 million, up 1.4% year over year but below analyst expectations.
• Analyst sentiment remains cautious, with the stock carrying a consensus “Hold” rating and a $13.39 target price. Utz also pays a quarterly dividend of $0.063 per share, equivalent to an annualized yield of about 1.8%.

Quantinno Capital Management LP increased its stake in shares of Utz Brands, Inc. (NYSE:UTZ - Free Report) by 140.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 291,034 shares of the company's stock after acquiring an additional 170,211 shares during the quarter. Quantinno Capital Management LP owned about 0.20% of Utz Brands worth $2,305,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of UTZ. Alyeska Investment Group L.P. increased its holdings in Utz Brands by 105.2% in the 4th quarter. Alyeska Investment Group L.P. now owns 2,414,791 shares of the company's stock valued at $25,066,000 after acquiring an additional 1,238,180 shares during the last quarter. Marshall Wace LLP raised its holdings in Utz Brands by 249.9% during the fourth quarter. Marshall Wace LLP now owns 1,658,502 shares of the company's stock worth $17,215,000 after purchasing an additional 1,184,571 shares during the last quarter. Balyasny Asset Management L.P. boosted its position in Utz Brands by 42.3% during the second quarter. Balyasny Asset Management L.P. now owns 2,946,512 shares of the company's stock worth $36,979,000 after purchasing an additional 875,847 shares in the last quarter. Squarepoint Ops LLC grew its holdings in Utz Brands by 261.5% in the fourth quarter. Squarepoint Ops LLC now owns 994,418 shares of the company's stock valued at $10,322,000 after purchasing an additional 719,361 shares during the last quarter. Finally, Copeland Capital Management LLC increased its position in shares of Utz Brands by 17.8% in the first quarter. Copeland Capital Management LLC now owns 4,063,561 shares of the company's stock valued at $32,183,000 after buying an additional 613,699 shares in the last quarter. 95.97% of the stock is owned by hedge funds and other institutional investors.

Utz Brands Stock Performance

Shares of NYSE:UTZ opened at $14.11 on Tuesday. The business has a 50-day moving average of $9.43 and a two-hundred day moving average of $8.77. The firm has a market capitalization of $2.03 billion, a PE ratio of -42.76 and a beta of 0.73. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.06 and a quick ratio of 0.69. Utz Brands, Inc. has a 12 month low of $6.78 and a 12 month high of $14.19.

Utz Brands (NYSE:UTZ - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.01. The business had revenue of $371.80 million for the quarter, compared to analyst estimates of $374.18 million. Utz Brands had a positive return on equity of 8.97% and a negative net margin of 2.00%.The company's revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.17 EPS. As a group, research analysts forecast that Utz Brands, Inc. will post 0.79 earnings per share for the current year.

Utz Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Monday, June 22nd were given a dividend of $0.063 per share. This represents a $0.25 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Monday, June 22nd. Utz Brands's payout ratio is -75.76%.

Wall Street Analyst Weigh In

UTZ has been the subject of a number of research reports. BTIG Research cut shares of Utz Brands from a "buy" rating to a "hold" rating in a research report on Monday, July 27th. UBS Group reaffirmed a "neutral" rating and set a $14.25 price objective on shares of Utz Brands in a research note on Wednesday, July 22nd. Zacks Research raised shares of Utz Brands from a "strong sell" rating to a "hold" rating in a research note on Monday, April 20th. Wall Street Zen lowered shares of Utz Brands from a "hold" rating to a "sell" rating in a report on Saturday, July 25th. Finally, TD Cowen reduced their price objective on shares of Utz Brands from $11.00 to $9.00 and set a "hold" rating on the stock in a research note on Monday, April 20th. One investment analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $13.39.

About Utz Brands

Utz Brands, Inc is a leading U.S. manufacturer and distributor of salty snack foods, offering a wide range of products including potato chips, pretzels, cheese snacks, popcorn and tortilla chips. Headquartered in Hanover, Pennsylvania, the company markets its snacks under several well-known brands and serves grocery, mass merchandise, club, convenience and online retailers throughout the United States.

Founded in 1921 by Bill and Salie Utz as a small country store operation, the business expanded gradually through direct delivery to local customers and sales to regional grocers.

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