Oppenheimer Asset Management Inc. Trims Holdings in Utz Brands, Inc. (NYSE:UTZ)

Oppenheimer Asset Management Inc. trimmed its holdings in Utz Brands, Inc. (NYSE:UTZ) by 2.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,302 shares of the company’s stock after selling 868 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Utz Brands were worth $637,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of UTZ. Vanguard Group Inc. increased its stake 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 valued at $110,113,000 after purchasing an additional 22,908 shares in the last quarter. Jennison Associates LLC increased its position in Utz Brands by 15.2% during the 1st quarter. Jennison Associates LLC now owns 1,331,581 shares of the company’s stock valued at $24,554,000 after buying an additional 175,956 shares in the last quarter. Victory Capital Management Inc. increased its position in Utz Brands by 22.0% during the 2nd quarter. Victory Capital Management Inc. now owns 1,238,425 shares of the company’s stock valued at $20,607,000 after buying an additional 223,462 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Utz Brands by 26.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,212,493 shares of the company’s stock valued at $19,691,000 after buying an additional 250,557 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in Utz Brands by 2.2% in the first quarter. Clearbridge Investments LLC now owns 874,124 shares of the company’s stock worth $16,119,000 after acquiring an additional 18,786 shares in the last quarter. Institutional investors own 95.97% of the company’s stock.

Utz Brands Trading Down 2.8 %

Shares of UTZ stock opened at $17.64 on Friday. The company has a current ratio of 1.69, a quick ratio of 1.21 and a debt-to-equity ratio of 0.57. Utz Brands, Inc. has a 12-month low of $11.17 and a 12-month high of $20.04. The stock has a market capitalization of $2.48 billion, a P/E ratio of -70.56, a P/E/G ratio of 1.18 and a beta of 1.01. The firm’s 50 day moving average is $16.63 and its 200 day moving average is $17.39.

Utz Brands (NYSE:UTZ) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. The firm had revenue of $356.20 million for the quarter, compared to the consensus estimate of $356.23 million. Utz Brands had a return on equity of 6.79% and a net margin of 0.29%. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period last year, the business posted $0.13 EPS. Research analysts expect that Utz Brands, Inc. will post 0.74 earnings per share for the current year.

Utz Brands Announces Dividend

The firm also recently disclosed a None dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th will be paid a $0.011 dividend. This represents a dividend yield of 1.3%. The ex-dividend date is Monday, September 16th. Utz Brands’s dividend payout ratio (DPR) is presently -92.00%.

Analyst Ratings Changes

Several research firms have recently issued reports on UTZ. Piper Sandler reaffirmed an “overweight” rating and issued a $22.00 price target on shares of Utz Brands in a research report on Wednesday, August 21st. Barclays reduced their price objective on shares of Utz Brands from $23.00 to $19.00 and set an “overweight” rating for the company in a research note on Friday, July 19th. Finally, 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. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $20.36.

Insider Buying and Selling

In other Utz Brands news, Director Bruce John Lindeman bought 4,000 shares of Utz Brands stock in a transaction on Monday, August 5th. The stock was acquired at an average cost of $16.11 per share, with a total value of $64,440.00. Following the completion of the acquisition, the director now owns 42,480 shares in the company, valued at $684,352.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 17.00% of the stock is currently 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.