Cresset Asset Management LLC Sells 26,238 Shares of Utz Brands, Inc. (NYSE:UTZ)

Cresset Asset Management LLC lessened its stake in Utz Brands, Inc. (NYSE:UTZ - Free Report) by 70.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund 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.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its stake in Utz Brands by 14.9% in the fourth quarter. JPMorgan Chase & Co. now owns 7,923,292 shares of the company's stock valued at $124,079,000 after acquiring an additional 1,025,656 shares during the period. Champlain Investment Partners LLC boosted its position in shares of Utz Brands by 13.5% during the fourth quarter. Champlain Investment Partners LLC now owns 5,208,402 shares of the company's stock worth $81,564,000 after buying an additional 620,196 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Utz Brands by 20.5% during the fourth quarter. Ameriprise Financial Inc. now owns 4,110,873 shares of the company's stock worth $64,376,000 after buying an additional 698,589 shares during the period. Copeland Capital Management LLC boosted its position in shares of Utz Brands by 1.9% during the fourth quarter. Copeland Capital Management LLC now owns 3,117,478 shares of the company's stock worth $48,820,000 after buying an additional 59,429 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Utz Brands by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 1,561,986 shares of the company's stock worth $24,467,000 after buying an additional 13,755 shares during the period. 95.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Utz Brands Stock Down 1.3%

UTZ traded down $0.16 on Thursday, hitting $12.14. 1,360,437 shares of the company were exchanged, compared to its average volume of 924,608. Utz Brands, Inc. has a 12 month low of $11.53 and a 12 month high of $18.89. The company has a market cap of $1.72 billion, a PE ratio of 67.42, a PEG ratio of 0.86 and a beta of 1.20. 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's fifty day moving average is $13.21 and its 200-day moving average is $14.47.

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

Utz Brands Cuts Dividend

The firm also recently disclosed 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 annualized dividend and a yield of 0.36%. Utz Brands's dividend payout ratio is 75.00%.

Insider Buying and Selling 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 that occurred on Thursday, March 6th. The stock was sold at an average price of $13.40, for a total value of $6,646,909.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Howard A. Friedman acquired 3,525 shares of the company's stock in a transaction on Monday, February 24th. The stock was acquired at an average price of $14.16 per share, for a total transaction of $49,914.00. Following the purchase, the chief executive officer now directly owns 265,729 shares of the company's stock, valued at approximately $3,762,722.64. This trade represents a 1.34% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 17,920 shares of company stock worth $224,156 over the last 90 days. Company insiders own 16.32% of the company's stock.

Utz Brands Company 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.