Utz Brands, Inc. (NYSE:UTZ) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. grew its stake in Utz Brands, Inc. (NYSE:UTZ) by 2.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 696,019 shares of the company’s stock after buying an additional 14,647 shares during the period. Envestnet Asset Management Inc.’s holdings in Utz Brands were worth $11,582,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Fifth Third Bancorp purchased a new position in Utz Brands in the second quarter valued at $44,000. SG Americas Securities LLC acquired a new position in shares of Utz Brands during the 2nd quarter worth approximately $103,000. Parallel Advisors LLC lifted its position in shares of Utz Brands by 11.6% during the 4th 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 in the last quarter. Waterloo Capital L.P. purchased a new position in shares of Utz Brands during the 4th quarter valued at approximately $169,000. Finally, Choreo LLC acquired a new stake in Utz Brands in the 2nd quarter valued at $195,000. 95.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Utz Brands

In other Utz Brands news, Director Bruce John Lindeman acquired 4,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was acquired at an average price of $16.11 per share, with a total value of $64,440.00. Following the transaction, the director now directly owns 42,480 shares in the company, valued at $684,352.80. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 17.00% of the stock is owned by insiders.

Utz Brands Price Performance

Utz Brands stock opened at $17.65 on Thursday. The firm’s 50-day moving average is $16.71 and its two-hundred day moving average is $17.38. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.69 and a quick ratio of 1.21. The stock has a market capitalization of $2.49 billion, a P/E ratio of -70.60, a P/E/G ratio of 1.18 and a beta of 1.01. Utz Brands, Inc. has a 12-month low of $11.17 and a 12-month high of $20.04.

Utz Brands (NYSE:UTZ) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.19 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $356.23 million. During the same period last year, the company posted $0.13 earnings per share. The firm’s revenue was down 1.8% compared to the same quarter last year. Equities analysts predict that Utz Brands, Inc. will post 0.74 earnings per share for the current year.

Utz Brands Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages recently commented on UTZ. Needham & Company LLC reiterated a “buy” rating and set a $22.00 price target on shares of Utz Brands in a research report on Friday, August 2nd. Barclays cut their target price on Utz Brands from $23.00 to $19.00 and set an “overweight” rating for the company in a research note on Friday, July 19th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $22.00 price target on shares of Utz Brands in a research note on Wednesday, August 21st. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.36.

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.