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

Envestnet Asset Management Inc. boosted its stake in Utz Brands, Inc. (NYSE:UTZ - Free Report) by 27.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 850,210 shares of the company's stock after purchasing an additional 183,159 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.60% of Utz Brands worth $11,971,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in UTZ. Tower Research Capital LLC TRC raised its holdings in shares of Utz Brands by 112.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,697 shares of the company's stock valued at $121,000 after acquiring an additional 4,078 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in shares of 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 buying an additional 2,441 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in shares of Utz Brands during the 1st quarter valued at about $144,000. Freestone Grove Partners LP purchased a new position in shares of Utz Brands during the 4th quarter valued at about $183,000. Finally, BNP Paribas Financial Markets purchased a new position in shares of Utz Brands during the 4th quarter valued at about $196,000. Institutional investors own 95.97% of the company's stock.

Analysts Set New Price Targets

UTZ has been the topic of a number of research reports. TD Cowen cut Utz Brands from a "buy" rating to a "hold" rating and decreased their price objective for the company from $17.00 to $15.00 in a report on Tuesday, April 22nd. DA Davidson raised Utz Brands from a "neutral" rating to a "buy" rating and set a $16.00 price target on the stock in a research note on Thursday, April 24th. UBS Group boosted their target price on Utz Brands from $13.50 to $15.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Finally, Barclays reduced their target price on Utz Brands from $17.00 to $16.00 and set an "overweight" rating on the stock in a research note on Friday, June 27th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $17.88.

Utz Brands Stock Up 2.1%

Utz Brands stock traded up $0.29 during mid-day trading on Tuesday, hitting $14.32. The company had a trading volume of 384,957 shares, compared to its average volume of 985,741. The company has a current ratio of 1.32, a quick ratio of 0.91 and a debt-to-equity ratio of 0.61. The stock's 50 day moving average price is $13.14 and its two-hundred day moving average price is $13.41. Utz Brands, Inc. has a 12 month low of $11.53 and a 12 month high of $18.89. The company has a market capitalization of $2.02 billion, a PE ratio of 44.70, a price-to-earnings-growth ratio of 1.62 and a beta of 1.14.

Utz Brands (NYSE:UTZ - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. Utz Brands had a return on equity of 8.05% and a net margin of 1.94%. The business had revenue of $352.08 million for the quarter, compared to the consensus estimate of $345.44 million. During the same period in the previous year, the company posted $0.14 earnings per share. The company's revenue for the quarter was up 1.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Utz Brands, Inc. will post 0.85 earnings per share for the current fiscal year.

Utz Brands Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Monday, June 16th were paid a $0.061 dividend. The ex-dividend date was Monday, June 16th. This represents a $0.24 annualized dividend and a dividend yield of 1.70%. This is a boost from Utz Brands's previous quarterly dividend of $0.01. Utz Brands's payout ratio is currently 75.00%.

Insider Buying and Selling at Utz Brands

In other Utz Brands news, Director William Jr. Werzyn purchased 8,000 shares of the firm's stock in a transaction dated Wednesday, May 7th. The stock was purchased at an average price 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 of the company's stock, valued at $271,275.70. This trade represents a 53.44% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Timothy Brown acquired 5,000 shares of Utz Brands stock in a transaction that occurred on Monday, May 5th. The shares were purchased at an average price of $11.96 per share, with a total value of $59,800.00. Following the transaction, the director owned 67,573 shares of the company's stock, valued at $808,173.08. The trade was a 7.99% increase in their position. The disclosure for this purchase can be found here. 16.32% of the stock is owned by insiders.

Utz Brands 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.