Cresset Asset Management LLC Has $169,000 Position in Utz Brands, Inc. (NYSE:UTZ)

Cresset Asset Management LLC reduced its stake in Utz Brands, Inc. (NYSE:UTZ) by 70.8% in the 4th quarter, according to the company in its most recent filing with the SEC. 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 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in UTZ. JPMorgan Chase & Co. increased its position in Utz Brands by 14.9% in the 4th quarter. JPMorgan Chase & Co. now owns 7,923,292 shares of the company’s stock worth $124,079,000 after buying an additional 1,025,656 shares during the period. Champlain Investment Partners LLC increased its position in Utz Brands by 13.5% in the 4th 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. increased its position in Utz Brands by 20.5% in the 4th 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 increased its position in Utz Brands by 1.9% in the 4th 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 increased its position in Utz Brands by 0.9% in the 4th 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 currently owned by institutional investors and hedge funds.

Utz Brands Price Performance

Shares of UTZ stock opened at $12.96 on Monday. The stock’s fifty day simple moving average is $13.27 and its 200 day simple moving average is $14.53. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.21 and a quick ratio of 0.85. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of 72.02, a P/E/G ratio of 0.86 and a beta of 1.20. Utz Brands, Inc. has a one year low of $11.53 and a one year high of $18.89.

Utz Brands (NYSE:UTZ) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.16 EPS for the quarter, meeting the consensus estimate of $0.16. The business had revenue of $352.08 million for the quarter, compared to analyst estimates of $345.44 million. Utz Brands had a return on equity of 7.92% and a net margin of 1.13%. Utz Brands’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.14 EPS. On average, analysts expect that Utz Brands, Inc. will post 0.85 earnings per share for the current fiscal year.

Utz Brands Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Monday, April 7th were paid a $0.011 dividend. This represents a $0.04 annualized dividend and a yield of 0.34%. The ex-dividend date was Monday, April 7th. Utz Brands’s dividend payout ratio is 75.00%.

Analysts Set New Price Targets

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

Insider Activity at Utz Brands

In other Utz Brands news, Director William Jr. Werzyn acquired 8,000 shares of Utz Brands stock in a transaction on Wednesday, May 7th. The shares were bought 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 in the company, valued at $271,275.70. This trade represents a 53.44% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Cc Collier Holdings, Llc sold 496,038 shares of the business’s stock in a transaction 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 disclosure for this sale can be found here. Insiders have purchased a total of 17,920 shares of company stock valued at $224,156 in the last 90 days. 16.32% of the stock is owned by corporate insiders.

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.