Utz Brands, Inc. (NYSE:UTZ) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lessened its stake in Utz Brands, Inc. (NYSE:UTZ) by 14.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 32,604 shares of the company’s stock after selling 5,698 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Utz Brands were worth $577,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Victory Capital Management Inc. raised its position in Utz Brands by 19.0% during the third quarter. Victory Capital Management Inc. now owns 1,474,047 shares of the company’s stock valued at $26,091,000 after acquiring an additional 235,622 shares in the last quarter. GSA Capital Partners LLP increased its holdings in shares of Utz Brands by 100.0% during the 3rd quarter. GSA Capital Partners LLP now owns 165,896 shares of the company’s stock valued at $2,936,000 after purchasing an additional 82,935 shares in the last quarter. State of New Jersey Common Pension Fund D increased its holdings in shares of Utz Brands by 16.1% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 116,544 shares of the company’s stock valued at $2,063,000 after purchasing an additional 16,201 shares in the last quarter. Smith Group Asset Management LLC lifted its stake in shares of Utz Brands by 24.2% in the 3rd quarter. Smith Group Asset Management LLC now owns 27,093 shares of the company’s stock valued at $480,000 after purchasing an additional 5,278 shares during the period. Finally, Legacy Wealth Asset Management LLC boosted its holdings in Utz Brands by 11.6% during the third quarter. Legacy Wealth Asset Management LLC now owns 40,176 shares of the company’s stock worth $711,000 after buying an additional 4,182 shares in the last quarter. Hedge funds and other institutional investors own 95.97% of the company’s stock.

Utz Brands Stock Performance

Shares of NYSE:UTZ opened at $16.60 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.21 and a quick ratio of 0.85. Utz Brands, Inc. has a 1 year low of $12.81 and a 1 year high of $20.04. The firm has a market capitalization of $2.34 billion, a PE ratio of -87.37, a P/E/G ratio of 1.12 and a beta of 1.01. The business’s 50 day moving average price is $17.25 and its 200-day moving average price is $17.13.

Utz Brands (NYSE:UTZ) last released its earnings results on Thursday, October 31st. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. The business had revenue of $365.50 million during the quarter, compared to analyst estimates of $363.98 million. Utz Brands had a negative net margin of 0.99% and a positive return on equity of 7.25%. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.17 earnings per share. As a group, equities research analysts expect that Utz Brands, Inc. will post 0.73 earnings per share for the current fiscal year.

Utz Brands Dividend Announcement

The business also recently announced a None dividend, which was paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th were issued a dividend of $0.011 per share. This represents a dividend yield of 1.3%. The ex-dividend date was Monday, September 16th. Utz Brands’s dividend payout ratio is currently -126.32%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Mizuho lowered their target price on shares of Utz Brands from $24.00 to $21.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. Piper Sandler raised their price objective on Utz Brands from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $22.00 target price on shares of Utz Brands in a research note on Friday, August 2nd. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $21.22.

Insider Activity

In related news, insider Cc Collier Holdings, Llc sold 2,815,404 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $17.29, for a total value of $48,678,335.16. Following the completion of the sale, the insider now owns 496,038 shares of the company’s stock, valued at approximately $8,576,497.02. This represents a 85.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Cary Devore sold 30,000 shares of Utz Brands stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $17.32, for a total transaction of $519,600.00. Following the transaction, the executive vice president now directly owns 451,117 shares in the company, valued at $7,813,346.44. This trade represents a 6.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 17.00% 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.