Envestnet Asset Management Inc. Raises Stock Position in Utz Brands, Inc. (NYSE:UTZ)

Envestnet Asset Management Inc. boosted its position in shares of Utz Brands, Inc. (NYSE:UTZ) by 27.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 850,210 shares of the company’s stock after acquiring an additional 183,159 shares during the period. Envestnet Asset Management Inc. owned 0.60% of Utz Brands worth $11,971,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. First Horizon Advisors Inc. grew its stake in Utz Brands by 44.8% during the 1st quarter. First Horizon Advisors Inc. now owns 7,887 shares of the company’s stock valued at $111,000 after purchasing an additional 2,441 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Utz Brands by 112.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,697 shares of the company’s stock worth $121,000 after purchasing an additional 4,078 shares during the period. Teacher Retirement System of Texas purchased a new stake in Utz Brands in the first quarter valued at approximately $144,000. Parallel Advisors LLC increased its holdings in Utz Brands by 38.9% in the 1st quarter. Parallel Advisors LLC now owns 12,904 shares of the company’s stock worth $182,000 after buying an additional 3,616 shares during the period. Finally, Freestone Grove Partners LP purchased a new position in Utz Brands during the 4th quarter worth approximately $183,000. 95.97% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Utz Brands news, Director William Jr. Werzyn acquired 8,000 shares of the firm’s stock in a transaction on Wednesday, May 7th. The stock was bought at an average cost of $11.81 per share, for a total transaction of $94,480.00. Following the completion of the purchase, the director directly owned 22,970 shares in the company, valued at $271,275.70. This represents a 53.44% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Timothy Brown acquired 5,000 shares of the company’s stock in a transaction dated Monday, May 5th. The shares were purchased at an average price of $11.96 per share, for a total transaction of $59,800.00. Following the purchase, the director directly owned 67,573 shares of the company’s stock, valued at approximately $808,173.08. This trade represents a 7.99% increase in their ownership of the stock. The disclosure for this purchase can be found here. 16.32% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

UTZ has been the subject of a number of recent analyst reports. Barclays cut their price objective on shares of Utz Brands from $17.00 to $16.00 and set an “overweight” rating for the company in a report on Friday, June 27th. DA Davidson raised Utz Brands from a “neutral” rating to a “buy” rating and set a $16.00 price objective on the stock in a report on Thursday, April 24th. TD Cowen cut Utz Brands from a “buy” rating to a “hold” rating and cut their price objective for the company from $17.00 to $15.00 in a research report on Tuesday, April 22nd. Finally, UBS Group upped their target price on Utz Brands from $13.50 to $15.00 and gave the stock a “neutral” rating in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $17.88.

Utz Brands Stock Down 0.3%

UTZ opened at $14.07 on Friday. Utz Brands, Inc. has a 52 week low of $11.53 and a 52 week high of $18.89. The business has a 50 day moving average price of $13.14 and a two-hundred day moving average price of $13.42. The company has a quick ratio of 0.91, a current ratio of 1.32 and a debt-to-equity ratio of 0.61. The company has a market cap of $1.99 billion, a PE ratio of 43.97, a P/E/G ratio of 1.62 and a beta of 1.14.

Utz Brands (NYSE:UTZ) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.16 EPS for the quarter, meeting the consensus estimate of $0.16. The firm had revenue of $352.08 million during the quarter, compared to analysts’ expectations of $345.44 million. Utz Brands had a net margin of 1.94% and a return on equity of 8.05%. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.14 earnings per share. As a group, research analysts anticipate that Utz Brands, Inc. will post 0.85 EPS for the current year.

Utz Brands Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Monday, June 16th were paid a dividend of $0.061 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $0.24 dividend on an annualized basis and a yield of 1.73%. This is an increase from Utz Brands’s previous quarterly dividend of $0.01. Utz Brands’s dividend payout ratio (DPR) is currently 75.00%.

Utz Brands Company Profile

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.