Cresset Asset Management LLC Trims Stake in Utz Brands, Inc. (NYSE:UTZ)

Cresset Asset Management LLC trimmed its holdings in Utz Brands, Inc. (NYSE:UTZ - Free Report) by 70.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,814 shares of the company's stock after selling 26,238 shares during the quarter. Cresset Asset Management LLC's holdings in Utz Brands were worth $169,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Newton One Investments LLC purchased a new stake in shares of Utz Brands during the 4th quarter worth approximately $26,000. Venturi Wealth Management LLC purchased a new stake in shares of Utz Brands during the 4th quarter worth approximately $54,000. Tower Research Capital LLC TRC raised its holdings in shares of Utz Brands by 112.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,697 shares of the company's stock worth $121,000 after acquiring an additional 4,078 shares in the last quarter. Freestone Grove Partners LP purchased a new stake in shares of Utz Brands during the 4th quarter worth approximately $183,000. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Utz Brands during the 4th quarter worth approximately $196,000. 95.97% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Cc Collier Holdings, Llc sold 496,038 shares of the firm's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $13.40, for a total value of $6,646,909.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William Jr. Werzyn acquired 8,000 shares of Utz Brands stock in a transaction dated Wednesday, May 7th. The stock was purchased at an average price of $11.81 per share, with a total value of $94,480.00. Following the completion of the purchase, the director now owns 22,970 shares of the company's stock, valued at approximately $271,275.70. The trade was a 53.44% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 17,920 shares of company stock worth $224,156 over the last quarter. Company insiders own 16.32% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on UTZ shares. UBS Group decreased their price objective on Utz Brands from $15.00 to $13.50 and set a "neutral" rating on the stock in a report on Friday, May 2nd. DA Davidson raised Utz Brands from a "neutral" rating to a "buy" rating and set a $16.00 price objective on the stock in a report on Thursday, April 24th. TD Cowen lowered Utz Brands from a "buy" rating to a "hold" rating and decreased their price target for the company from $17.00 to $15.00 in a report on Tuesday, April 22nd. Mizuho decreased their price target on Utz Brands from $21.00 to $19.00 and set an "outperform" rating on the stock in a report on Monday, February 10th. Finally, Royal Bank of Canada decreased their price target on Utz Brands from $23.00 to $20.00 and set an "outperform" rating on the stock in a report on Monday, February 24th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Utz Brands currently has a consensus rating of "Moderate Buy" and an average target price of $17.81.

Utz Brands Trading Up 1.0%

UTZ stock traded up $0.12 during midday trading on Friday, reaching $12.27. The company's stock had a trading volume of 967,762 shares, compared to its average volume of 930,175. 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 stock has a fifty day simple moving average of $13.17 and a two-hundred day simple moving average of $14.37. Utz Brands, Inc. has a 1 year low of $11.53 and a 1 year high of $18.89. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of 68.15, a PEG ratio of 0.86 and a beta of 1.20.

Utz Brands (NYSE:UTZ - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.16 earnings per share for the quarter, hitting analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $345.44 million. During the same quarter last year, the firm posted $0.14 earnings per share. The business's revenue was up 1.6% compared to the same quarter last year. On average, equities research analysts predict that Utz Brands, Inc. will post 0.85 EPS for the current year.

Utz Brands Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Monday, April 7th were paid a $0.011 dividend. The ex-dividend date was Monday, April 7th. This represents a $0.04 dividend on an annualized basis and a yield of 0.36%. Utz Brands's payout ratio is 75.00%.

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.