Oppenheimer Asset Management Inc. Sells 868 Shares of Utz Brands, Inc. (NYSE:UTZ)

Oppenheimer Asset Management Inc. reduced its stake in Utz Brands, Inc. (NYSE:UTZ) by 2.2% during the second quarter, according to its most recent Form 13F 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 the stock. Fifth Third Bancorp purchased a new stake in shares of Utz Brands during the 2nd quarter valued at $44,000. SG Americas Securities LLC bought a new position in Utz Brands in the second quarter valued at $103,000. Parallel Advisors LLC raised its position in Utz Brands by 11.6% during the fourth quarter. Parallel Advisors LLC now owns 9,924 shares of the company’s stock valued at $161,000 after purchasing an additional 1,033 shares in the last quarter. Waterloo Capital L.P. bought a new stake in Utz Brands during the fourth quarter worth about $169,000. Finally, Envestnet Portfolio Solutions Inc. purchased a new position in shares of Utz Brands in the 1st quarter worth about $196,000. 95.97% of the stock is currently owned by institutional investors.

Utz Brands Stock Performance

Shares of NYSE:UTZ 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. The company has a 50-day moving average price of $16.63 and a 200-day moving average price of $17.39. The company has a market cap of $2.48 billion, a price-to-earnings ratio of -70.56, a price-to-earnings-growth ratio of 1.18 and a beta of 1.01. Utz Brands, Inc. has a 12 month low of $11.17 and a 12 month high of $20.04.

Utz Brands (NYSE:UTZ) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. The business had revenue of $356.20 million during the quarter, compared to analyst estimates of $356.23 million. Utz Brands had a return on equity of 6.79% and a net margin of 0.29%. Utz Brands’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.13 EPS. As a group, equities analysts anticipate that Utz Brands, Inc. will post 0.74 EPS for the current year.

Utz Brands Dividend Announcement

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

Insider Buying and Selling at Utz Brands

In related news, Director Bruce John Lindeman bought 4,000 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was purchased at an average cost of $16.11 per share, with a total value of $64,440.00. Following the transaction, the director now owns 42,480 shares in the company, valued at approximately $684,352.80. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 17.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Needham & Company LLC restated a “buy” rating and issued a $22.00 target price on shares of Utz Brands in a research report on Friday, August 2nd. Piper Sandler restated an “overweight” rating and issued a $22.00 price objective on shares of Utz Brands in a report on Wednesday, August 21st. Finally, Barclays reduced their target price on shares of Utz Brands from $23.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday, July 19th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $20.36.

Utz Brands 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.