Emerald Mutual Fund Advisers Trust Cuts Stock Position in Utz Brands, Inc. (NYSE:UTZ)

Emerald Mutual Fund Advisers Trust decreased its position in shares of Utz Brands, Inc. (NYSE:UTZ) by 49.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 321,951 shares of the company’s stock after selling 311,982 shares during the period. Emerald Mutual Fund Advisers Trust’s holdings in Utz Brands were worth $5,699,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Utz Brands by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 6,780,350 shares of the company’s stock worth $110,113,000 after purchasing an additional 22,908 shares in the last quarter. Norden Group LLC purchased a new stake in Utz Brands in the first quarter valued at about $620,000. Diversify Advisory Services LLC acquired a new stake in Utz Brands in the first quarter worth about $359,000. Jennison Associates LLC grew its stake in shares of Utz Brands by 15.2% during the first quarter. Jennison Associates LLC now owns 1,331,581 shares of the company’s stock worth $24,554,000 after acquiring an additional 175,956 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Utz Brands during the first quarter worth about $196,000. Hedge funds and other institutional investors own 95.97% of the company’s stock.

Wall Street Analyst Weigh In

UTZ has been the subject of a number of recent analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $22.00 target price on shares of Utz Brands in a research note on Friday, August 2nd. Barclays cut their target price on Utz Brands from $23.00 to $19.00 and set an “overweight” rating on the stock in a research report on Friday, July 19th. Finally, Piper Sandler lifted their price target on Utz Brands from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Friday. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $21.10.

Insider Activity at Utz Brands

In other news, Director Bruce John Lindeman bought 4,000 shares of the stock in a transaction dated Monday, August 5th. The shares were acquired at an average cost of $16.11 per share, with a total value of $64,440.00. Following the purchase, the director now directly owns 42,480 shares in the company, valued at $684,352.80. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 17.00% of the stock is owned by company insiders.

Utz Brands Price Performance

Shares of UTZ opened at $17.35 on Friday. The business’s 50-day moving average is $17.31 and its two-hundred day moving average is $17.24. The company has a market capitalization of $2.44 billion, a P/E ratio of -91.32, a P/E/G ratio of 1.11 and a beta of 1.01. Utz Brands, Inc. has a fifty-two week low of $11.67 and a fifty-two week high of $20.04. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.21 and a current ratio of 1.69.

Utz Brands (NYSE:UTZ) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.01. Utz Brands had a return on equity of 6.79% and a net margin of 0.29%. The company had revenue of $365.50 million during the quarter, compared to analysts’ expectations of $363.98 million. During the same period last year, the business earned $0.17 earnings per share. Utz Brands’s quarterly revenue was down 1.7% on a year-over-year basis. Research 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 announced a None dividend, which was paid on Thursday, October 3rd. Investors of record on Monday, September 16th were paid a $0.011 dividend. This represents a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, September 16th. Utz Brands’s dividend payout ratio is currently -121.05%.

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.