Utz Brands
UTZ on NYSE. Utz Brands sells snacks to grocery stores and other retailers. Market value $912m.
Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.
Recent profit includes a one-time gain, so we price the company excluding that gain.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
See Everyday goods stocks that passed both tests
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $4.08 of spare cash in the past 12 months. A savings account pays about $4.
The filings do not give us enough to work this out.
Each dollar kept in the business earns 1 cents a year. Above 10 is good.
Quality score: 56 of 100. Price score: 22 of 100. Our list needs 70 on quality and 60 on price.
$14.27 a share, 110% above its 1-year low
Over the past year the price has ranged from $6.78 to $14.33.
Dividend: 1.8% a year
Paid every year for at least 5 years
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
Spare cash swings from quarter to quarter here: $51 million in the past 12 months, $9 million in the year to December 2025.
| Revenue | |||||
| Revenue | $1.2bn | $1.4bn | $1.4bn | $1.4bn | $1.4bn |
| Operating margin | |||||
| Operating margin | 0.9% | 0.4% | 1.1% | 4.2% | 1.4% |
| Debt to equity | |||||
| Debt to equity | 1.25 | 1.31 | 1.36 | 1.12 | 1.20 |
| Shares outstanding | |||||
| Shares outstanding | 0.08bn | 0.08bn | 0.08bn | 0.09bn | 0.09bn |
Health checks
- Free cash flow positive4 of 5 years
- Accounting looks honest (Beneish)Nothing unusual
- Financial strength (Piotroski)5 of 8 checks we could run
- Profit backed by cash (accruals)Yes
- Debt1.20× equity
- Revenue growth, five yearsSlow, 5.1% a year
- Buying back its own sharesNo, 8% more shares since 2021
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $372 million last quarter, up 1% on a year ago.
- A loss of $10 million, after a profit of $11 million a year ago.
- It keeps 1 cents of each $1 of sales as operating profit, down from 3 cents a year earlier.
- Spare cash over the past 12 months: $51 million. A year earlier it spent $24 million more than it brought in.
- 1% more shares than a year ago. Each share owns a bit less of the company.
- Debt is $787 million more than cash, down from $821 million a year ago.
- Sales grew on a year ago in each of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $366m |
| December 2024 | $341m |
| March 2025 | $352m |
| June 2025 | $367m |
| September 2025 | $378m |
| December 2025 | $342m |
| March 2026 | $361m |
| June 2026 | $372m |
| Quarter to | Amount |
|---|---|
| September 2024 | -$2m |
| December 2024 | $2m |
| March 2025 | $8m |
| June 2025 | $11m |
| September 2025 | -$15m |
| December 2025 | -$3m |
| March 2026 | -$2m |
| June 2026 | -$10m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 12 February 2026
- Next quarterly (estimated, 10-Q)
- 4 November 2026
Who owns it
3 long-term investors we follow own it, up from 2 last quarter. 234 funds in all.
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| First Eagle Investment ManagementMatthew McLennan | $20m | <0.1% | Added |
| Diamond Hill Capital ManagementRic Dillon (founder) | $14m | 0.1% | Added |
| Gotham Asset ManagementJoel Greenblatt | $161,022 | <0.1% | New |
Largest holders overall
- BlackRock$47mAdded
- Vanguard Portfolio Management$31m
- Copeland Capital Management$30mCut
- JPMorgan Chase$27mCut
- Vanguard Capital Management$25mAdded
- First Eagle Investment Management$20mAdded
- TWO Sigma Investments, LP$19mAdded
- Focus Partners Wealth$18mAdded
- Goldman Sachs Group$16mAdded
- Geode Capital Management$15mAdded
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
6 investors own more than 5%.
- Series U of UM Partners, LLCat least 37.3%(filed with 4 related holders)Since 20 July 2026
What they said
Item 4 of the Schedule 13D is hereby amended and restated in its entirety as follows: Merger Agreement; Merger Consideration and Treatment of Equity Awards As summarized under Item 3 above, on July 20, 2026, the Issuer, Acquiror, Merger Sub and Parent entered into the Merger…
Read the filing - TAM UK International Holdings LimitedPassive investorat least 6.2%(filed with 6 related holders)Since 31 March 2025
- BlackRock, Inc.Passive investor5.8%Since 31 March 2025
- Roger K. DeromediPassive investor5.5%Since 30 September 2025
- Jason K. GiordanoPassive investorat least 4.4%−1.7 pts(filed with 1 related holder)Since 30 September 2025
- Millennium Management LLCPassive investorat least 2.9%−2.4 pts(filed with 3 related holders)Since 31 December 2025
- Champlain Investment Partners, LLCPassive investorSold down below 5%Since 31 March 2025
- JPMORGAN CHASE & COPassive investorSold down below 5%Since 31 March 2026
- Ameriprise Financial, Inc.Passive investorSold down below 5%Since 31 March 2026
- T. Rowe Price Investment Management, Inc.Passive investorSold down below 5%Since 31 March 2025
- Millennium Management LLCPassive investorSold down below 5%Since 31 March 2025
- Neuberger Berman Group LLCPassive investorSold down below 5%Since 31 January 2025
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
Series U of UM Partners, LLC | at least 37.3% (filed with 4 related holders) | 20 July 2026 | What they saidItem 4 of the Schedule 13D is hereby amended and restated in its entirety as follows: Merger Agreement; Merger Consideration and Treatment of Equity Awards As summarized under Item 3 above, on July 20, 2026, the Issuer, Acquiror, Merger Sub and Parent entered into the Merger… Read the filing |
TAM UK International Holdings Limited Passive investor | at least 6.2% (filed with 6 related holders) | 31 March 2025 | |
BlackRock, Inc. Passive investor | 5.8% | 31 March 2025 | |
Roger K. Deromedi Passive investor | 5.5% | 30 September 2025 | |
Jason K. Giordano Passive investor | at least 4.4%−1.7 pts (filed with 1 related holder) | 30 September 2025 | |
Millennium Management LLC Passive investor | at least 2.9%−2.4 pts (filed with 3 related holders) | 31 December 2025 | |
Champlain Investment Partners, LLC Passive investor | Sold down below 5% | 31 March 2025 | |
JPMORGAN CHASE & CO Passive investor | Sold down below 5% | 31 March 2026 | |
Ameriprise Financial, Inc. Passive investor | Sold down below 5% | 31 March 2026 | |
T. Rowe Price Investment Management, Inc. Passive investor | Sold down below 5% | 31 March 2025 | |
Millennium Management LLC Passive investor | Sold down below 5% | 31 March 2025 | |
Neuberger Berman Group LLC Passive investor | Sold down below 5% | 31 January 2025 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
In the last 12 months, 5 insiders bought $589,650 of shares on the open market.
- Shea Theresa RobbinsEVP, Chief Legal OfficerBought
- Date
- 31 December 2025
- Shares
- 702
- Price
- $9.86
- Value
- $6,922
- Sponaugle JamesEVP & Chief People OfficerBought
- Date
- 31 December 2025
- Shares
- 679
- Price
- $9.86
- Value
- $6,695
- Lissette DylanDirectorBought
- Date
- 18 November 2025
- Shares
- 7,010
- Price
- $9.99
- Value
- $70,030
- Lissette DylanDirectorBought
- Date
- 7 November 2025
- Shares
- 7,901
- Price
- $9.99
- Value
- $78,931
- Friedman Howard ACEO, DirectorBought
- Date
- 3 November 2025
- Shares
- 7,200
- Price
- $10.58
- Value
- $76,176
- Kelley William J. JREVP, Chief Financial OfficerBought
- Date
- 3 November 2025
- Shares
- 477
- Price
- $10.47
- Value
- $4,994
- Shea Theresa RobbinsEVP, Chief Legal OfficerBought
- Date
- 3 November 2025
- Shares
- 965
- Price
- $10.35
- Value
- $9,988
- Lissette DylanDirectorBought
- Date
- 3 November 2025
- Shares
- 31,750
- Price
- $10.58
- Value
- $335,915
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 31 December 2025 | Shea Theresa Robbins EVP, Chief Legal Officer | Bought | 702 | $9.86 | $6,922 |
| 31 December 2025 | Sponaugle James EVP & Chief People Officer | Bought | 679 | $9.86 | $6,695 |
| 18 November 2025 | Lissette Dylan Director | Bought | 7,010 | $9.99 | $70,030 |
| 7 November 2025 | Lissette Dylan Director | Bought | 7,901 | $9.99 | $78,931 |
| 3 November 2025 | Friedman Howard A CEO, Director | Bought | 7,200 | $10.58 | $76,176 |
| 3 November 2025 | Kelley William J. JR EVP, Chief Financial Officer | Bought | 477 | $10.47 | $4,994 |
| 3 November 2025 | Shea Theresa Robbins EVP, Chief Legal Officer | Bought | 965 | $10.35 | $9,988 |
| 3 November 2025 | Lissette Dylan Director | Bought | 31,750 | $10.58 | $335,915 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
What could go wrong
Cheap for a reason is the question the numbers cannot answer.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.