Legacy Wealth Asset Management LLC Buys 2,949 Shares of Utz Brands, Inc. (NYSE:UTZ)

Legacy Wealth Asset Management LLC lifted its stake in Utz Brands, Inc. (NYSE:UTZ) by 12.8% in the 1st quarter, Holdings Channel reports. The institutional investor owned 25,914 shares of the company’s stock after acquiring an additional 2,949 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Utz Brands were worth $478,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. SRS Capital Advisors Inc. lifted its stake in shares of Utz Brands by 120.2% in the fourth quarter. SRS Capital Advisors Inc. now owns 3,464 shares of the company’s stock valued at $56,000 after buying an additional 1,891 shares during the period. Delta Asset Management LLC TN lifted its stake in Utz Brands by 100.0% during the fourth quarter. Delta Asset Management LLC TN now owns 5,000 shares of the company’s stock worth $81,000 after purchasing an additional 2,500 shares during the period. International Assets Investment Management LLC lifted its stake in Utz Brands by 1,428.8% during the fourth quarter. International Assets Investment Management LLC now owns 5,473 shares of the company’s stock worth $89,000 after purchasing an additional 5,115 shares during the period. Parallel Advisors LLC lifted its stake in Utz Brands by 11.6% during the fourth quarter. Parallel Advisors LLC now owns 9,924 shares of the company’s stock worth $161,000 after purchasing an additional 1,033 shares during the period. Finally, Cerity Partners LLC bought a new position in Utz Brands during the fourth quarter worth about $167,000. Institutional investors own 95.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Barclays raised their price objective on shares of Utz Brands from $20.00 to $23.00 and gave the stock an “overweight” rating in a report on Monday, May 6th. Needham & Company LLC raised their price objective on shares of Utz Brands from $20.50 to $22.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Bank of America raised shares of Utz Brands from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $19.00 to $22.00 in a report on Thursday, March 14th. Stephens raised their price objective on shares of Utz Brands from $21.00 to $23.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Finally, Royal Bank of Canada raised their price target on shares of Utz Brands from $19.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.42.

Insider Activity at Utz Brands

In related news, major shareholder Series U. Of Um Partners, Llc sold 397,885 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $18.76, for a total value of $7,464,322.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Utz Brands news, major shareholder Series U. Of Um Partners, Llc sold 397,885 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $18.76, for a total transaction of $7,464,322.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Christina Choi sold 3,160 shares of the business’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $17.98, for a total transaction of $56,816.80. Following the sale, the director now directly owns 29,740 shares in the company, valued at $534,725.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 497,178 shares of company stock valued at $9,387,927. 17.00% of the stock is owned by corporate insiders.

Utz Brands Price Performance

Shares of NYSE UTZ opened at $16.39 on Friday. The company’s fifty day moving average is $17.98 and its 200-day moving average is $17.69. Utz Brands, Inc. has a twelve month low of $11.17 and a twelve month high of $20.04. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.40 and a quick ratio of 0.95.

Utz Brands (NYSE:UTZ) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. The company had revenue of $346.50 million for the quarter, compared to analysts’ expectations of $346.99 million. Utz Brands had a negative net margin of 1.38% and a positive return on equity of 6.16%. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period last year, the firm posted $0.11 earnings per share. On average, equities analysts predict that Utz Brands, Inc. will post 0.72 earnings per share for the current year.

Utz Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 3rd. Investors of record on Monday, June 17th were given a $0.059 dividend. The ex-dividend date was Monday, June 17th. This represents a $0.24 annualized dividend and a yield of 1.44%. 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.