Emerald Mutual Fund Advisers Trust Sells 104,941 Shares of Utz Brands, Inc. (NYSE:UTZ)

Emerald Mutual Fund Advisers Trust cut its stake in shares of Utz Brands, Inc. (NYSE:UTZ - Free Report) by 32.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 217,010 shares of the company's stock after selling 104,941 shares during the period. Emerald Mutual Fund Advisers Trust owned 0.15% of Utz Brands worth $3,398,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of UTZ. Newton One Investments LLC acquired a new stake in shares of Utz Brands in the 4th quarter valued at approximately $26,000. Rhumbline Advisers lifted its stake in Utz Brands by 1.9% in the fourth quarter. Rhumbline Advisers now owns 95,103 shares of the company's stock valued at $1,489,000 after acquiring an additional 1,757 shares during the last quarter. LPL Financial LLC increased its stake in shares of Utz Brands by 4.7% during the 4th quarter. LPL Financial LLC now owns 39,879 shares of the company's stock worth $624,000 after purchasing an additional 1,789 shares during the last quarter. M&T Bank Corp increased its stake in shares of Utz Brands by 18.9% during the 4th quarter. M&T Bank Corp now owns 12,678 shares of the company's stock worth $198,000 after purchasing an additional 2,011 shares during the last quarter. Finally, Swiss National Bank raised its holdings in shares of Utz Brands by 1.5% in the 4th quarter. Swiss National Bank now owns 138,000 shares of the company's stock valued at $2,161,000 after purchasing an additional 2,100 shares during the period. 95.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. TD Cowen downgraded Utz Brands from a "buy" rating to a "hold" rating and lowered their price target for the stock from $17.00 to $15.00 in a research report on Tuesday, April 22nd. Royal Bank of Canada decreased their target price on Utz Brands from $23.00 to $20.00 and set an "outperform" rating on the stock in a report on Monday, February 24th. DA Davidson raised Utz Brands from a "neutral" rating to a "buy" rating and set a $16.00 price target for the company in a report on Thursday, April 24th. Piper Sandler decreased their price objective on shares of Utz Brands from $24.00 to $20.00 and set an "overweight" rating on the stock in a report on Thursday, January 16th. Finally, Barclays cut their target price on shares of Utz Brands from $19.00 to $17.00 and set an "overweight" rating for the company in a research note on Friday, January 17th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $18.39.

Utz Brands Stock Performance

NYSE:UTZ traded down $0.23 during mid-day trading on Friday, reaching $11.91. 2,899,680 shares of the company's stock were exchanged, compared to its average volume of 893,468. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.85 and a current ratio of 1.21. The firm has a market capitalization of $1.68 billion, a PE ratio of 66.17, a price-to-earnings-growth ratio of 0.86 and a beta of 1.10. Utz Brands, Inc. has a one year low of $11.71 and a one year high of $19.95. The business's fifty day simple moving average is $13.54 and its two-hundred day simple moving average is $14.87.

Utz Brands (NYSE:UTZ - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.16. Utz Brands had a return on equity of 7.92% and a net margin of 1.13%. The business had revenue of $352.08 million during the quarter, compared to analysts' expectations of $345.44 million. During the same period in the previous year, the company posted $0.14 earnings per share. The firm's revenue for the quarter was up 1.6% compared to the same quarter last year. Analysts anticipate that Utz Brands, Inc. will post 0.85 earnings per share for the current fiscal year.

Utz Brands Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Monday, April 7th were given a $0.011 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date of this dividend was Monday, April 7th. Utz Brands's payout ratio is currently 133.33%.

Insider Activity at Utz Brands

In other Utz Brands news, insider Cc Collier Holdings, Llc sold 496,038 shares of the company's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $13.40, for a total transaction of $6,646,909.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Howard A. Friedman bought 3,525 shares of Utz Brands stock in a transaction on Monday, February 24th. The stock was acquired at an average cost of $14.16 per share, for a total transaction of $49,914.00. Following the acquisition, the chief executive officer now owns 265,729 shares in the company, valued at approximately $3,762,722.64. This represents a 1.34 % increase in their position. The disclosure for this purchase can be found here. 16.32% of the stock is owned by insiders.

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.