SCHEDULE 13G: Millennium Entities Disclose Passive 4.0% Stake in Utz Brands, Inc. Class A Common Stock

Millennium Management LLC, Millennium Group Management LLC, and Israel A. Englander have filed a Schedule 13G disclosing beneficial ownership of 4.0% of Utz Brands, Inc.'s Class A Common Stock, noting they briefly exceeded 5% before the filing date.

Summary

• Millennium Management LLC, Millennium Group Management LLC, and Israel A. Englander collectively reported beneficial ownership of 3,323,679 shares of Utz Brands, Inc.'s Class A Common Stock.
• This aggregate amount represents 4.0% of the outstanding Class A Common Stock of Utz Brands, Inc.
• The reporting persons acquired beneficial ownership of more than 5% of the outstanding Class A Common Stock on January 16, 2025.
• However, by the date of this filing (January 22, 2025), the reporting persons ceased to be beneficial owners of more than 5% of the outstanding Class A Common Stock.
• The filing explicitly states that the securities were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of Utz Brands, Inc.

Sentiment

Score: 5

Explanation: The document is a neutral, factual disclosure of beneficial ownership, indicating a passive investment without intent to influence control. It provides no positive or negative operational or financial news for the issuer.

Positives

• The filing indicates institutional interest in Utz Brands, Inc. stock from Millennium Management, a prominent investment firm.
• The disclosure confirms the investment is passive and not intended to influence or change control of the issuer, which can reduce concerns about activist investor pressure.

Negatives

• The filing itself does not present any inherent negatives for Utz Brands, Inc., as it is a standard disclosure of a passive investment.

Risks

• The document does not identify specific risks to Utz Brands, Inc. beyond the general market risks associated with any publicly traded company. The investment is stated to be passive and not for control purposes.

Future Outlook

The document is a beneficial ownership report and does not provide any forward-looking statements or guidance regarding Utz Brands, Inc.'s future performance or the reporting persons' future investment intentions beyond the passive nature of the current holding.

Management Comments

• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11."

Industry Context

This filing is a routine disclosure of a passive investment stake by an institutional investor in a consumer packaged goods company. It does not provide specific insights into broader industry trends or competitive dynamics within the snack food sector.

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant institutional investor's passive stake in the company.
• Management: Confirms that the investment is not intended to influence or change control, potentially reducing concerns about activist pressure.

Next Steps

• No specific future actions or milestones for Utz Brands, Inc. or the reporting persons are mentioned in this filing.

Key Dates

Keywords

Utz Brands, Millennium Management, Schedule 13G, beneficial ownership, Class A Common Stock, passive investment, equity stake, SEC filing