Envestnet Asset Management Inc. Purchases 14,647 Shares of Utz Brands, Inc. (NYSE:UTZ)

Envestnet Asset Management Inc. grew its stake in Utz Brands, Inc. (NYSE:UTZ) by 2.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 696,019 shares of the company’s stock after purchasing an additional 14,647 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.49% of Utz Brands worth $11,582,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in UTZ. Charles Schwab Investment Management Inc. boosted its position in shares of Utz Brands by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 545,867 shares of the company’s stock worth $8,865,000 after acquiring an additional 12,232 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Utz Brands by 26.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,212,493 shares of the company’s stock worth $19,691,000 after buying an additional 250,557 shares during the period. UBS Group AG grew its position in shares of Utz Brands by 1.5% in the 4th quarter. UBS Group AG now owns 603,579 shares of the company’s stock valued at $9,802,000 after buying an additional 8,936 shares during the last quarter. Trexquant Investment LP acquired a new stake in shares of Utz Brands in the fourth quarter valued at about $1,345,000. Finally, Parallel Advisors LLC increased its stake in shares of Utz Brands by 11.6% in the fourth quarter. Parallel Advisors LLC now owns 9,924 shares of the company’s stock valued at $161,000 after buying an additional 1,033 shares during the period. Institutional investors own 95.97% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on UTZ. Piper Sandler reaffirmed an “overweight” rating and issued a $22.00 price objective on shares of Utz Brands in a research note on Wednesday, August 21st. Barclays dropped their price target on shares of Utz Brands from $23.00 to $19.00 and set an “overweight” rating on the stock in a research report on Friday, July 19th. Finally, Needham & Company LLC reissued a “buy” rating and set a $22.00 price objective on shares of Utz Brands in a report on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $20.36.

Insider Activity

In related news, Director Bruce John Lindeman acquired 4,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average price of $16.11 per share, for a total transaction of $64,440.00. Following the acquisition, the director now directly owns 42,480 shares of the company’s stock, valued at approximately $684,352.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 17.00% of the company’s stock.

Utz Brands Price Performance

NYSE UTZ opened at $17.65 on Thursday. Utz Brands, Inc. has a one year low of $11.17 and a one year high of $20.04. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.21 and a current ratio of 1.69. The stock has a 50-day moving average of $16.71 and a 200 day moving average of $17.38. The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of -70.60, a PEG ratio of 1.18 and a beta of 1.01.

Utz Brands (NYSE:UTZ) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. Utz Brands had a return on equity of 6.79% and a net margin of 0.29%. The company had revenue of $356.20 million during the quarter, compared to the consensus estimate of $356.23 million. During the same period in the previous year, the company posted $0.13 EPS. The firm’s revenue was down 1.8% on a year-over-year basis. On average, sell-side analysts forecast that Utz Brands, Inc. will post 0.74 EPS for the current year.

Utz Brands Announces Dividend

The business also recently announced a None dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th will be given a dividend of $0.011 per share. This represents a dividend yield of 1.3%. The ex-dividend date of this dividend is Monday, September 16th. Utz Brands’s dividend payout ratio is currently -96.00%.

About Utz Brands

Utz Brands, Inc engages in manufacture, marketing, and distribution of snack foods. It offers a range of salty snacks, including salty snacks, including potato chips, tortilla chips, pretzels, cheese snacks, pork skins, veggie snacks, pub/party mixes, tortilla chips, salsa and dips, ready-to-eat popcorn, and other snacks under the Utz, Zapp's, ON THE BORDER, Golden Flake, Boulder Canyon, Hawaiian, TORTIYAHS!, etc.