Envestnet Portfolio Solutions Inc. Sells 1,110 Shares of Utz Brands, Inc. $UTZ

Envestnet Portfolio Solutions Inc. cut its stake in shares of Utz Brands, Inc. (NYSE:UTZ) by 7.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,266 shares of the company’s stock after selling 1,110 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Utz Brands were worth $166,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. SPC Financial Inc. purchased a new stake in Utz Brands during the 2nd quarter valued at $149,000. Sageworth Trust Co purchased a new stake in Utz Brands during the 2nd quarter valued at $221,000. Truist Financial Corp increased its stake in shares of Utz Brands by 6.3% in the 2nd quarter. Truist Financial Corp now owns 50,338 shares of the company’s stock worth $632,000 after purchasing an additional 3,001 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Utz Brands by 97.3% in the 2nd quarter. Janney Montgomery Scott LLC now owns 27,436 shares of the company’s stock worth $344,000 after purchasing an additional 13,533 shares in the last quarter. Finally, Ballentine Partners LLC purchased a new stake in shares of Utz Brands in the 2nd quarter worth $169,000. 95.97% of the stock is currently owned by hedge funds and other institutional investors.

Utz Brands Stock Up 0.6%

UTZ opened at $12.44 on Friday. The firm has a 50-day simple moving average of $12.71 and a two-hundred day simple moving average of $13.03. Utz Brands, Inc. has a 52 week low of $11.53 and a 52 week high of $18.29. The company has a market capitalization of $1.76 billion, a PE ratio of 59.23, a price-to-earnings-growth ratio of 1.68 and a beta of 1.02. The company has a quick ratio of 0.87, a current ratio of 1.29 and a debt-to-equity ratio of 0.62.

Utz Brands (NYSE:UTZ) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.02). Utz Brands had a net margin of 1.27% and a return on equity of 7.81%. The company had revenue of $366.70 million for the quarter, compared to the consensus estimate of $360.55 million. During the same period last year, the company earned $0.19 EPS. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. Utz Brands has set its FY 2025 guidance at 0.820-0.850 EPS. Analysts forecast that Utz Brands, Inc. will post 0.85 earnings per share for the current fiscal year.

Utz Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Monday, September 15th were issued a dividend of $0.061 per share. This represents a $0.24 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Monday, September 15th. Utz Brands’s dividend payout ratio is 114.29%.

Insider Activity at Utz Brands

In other Utz Brands news, Director Christina Choi sold 5,703 shares of the stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $13.63, for a total transaction of $77,731.89. Following the completion of the transaction, the director owned 33,710 shares of the company’s stock, valued at $459,467.30. This represents a 14.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 16.32% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. UBS Group reduced their price objective on Utz Brands from $15.00 to $13.50 and set a “neutral” rating for the company in a research note on Wednesday, October 8th. Weiss Ratings restated a “sell (d+)” rating on shares of Utz Brands in a research note on Friday. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $17.07.

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.