Emerald Advisers LLC Sells 312,861 Shares of Utz Brands, Inc. (NYSE:UTZ)

Emerald Advisers LLC trimmed its holdings in shares of Utz Brands, Inc. (NYSE:UTZ) by 41.6% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 440,096 shares of the company’s stock after selling 312,861 shares during the quarter. Emerald Advisers LLC owned 0.31% of Utz Brands worth $7,790,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Fifth Third Bancorp bought a new stake in Utz Brands during the 2nd quarter worth approximately $44,000. Canada Pension Plan Investment Board acquired a new position in Utz Brands during the 2nd quarter worth approximately $80,000. SG Americas Securities LLC acquired a new position in Utz Brands during the 2nd quarter worth approximately $103,000. nVerses Capital LLC acquired a new position in Utz Brands during the 3rd quarter worth approximately $142,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in Utz Brands during the 1st quarter worth approximately $196,000. 95.97% of the stock is owned by institutional investors.

Utz Brands Stock Up 0.8 %

Shares of NYSE UTZ traded up $0.13 during trading hours on Friday, hitting $17.35. The company had a trading volume of 1,094,157 shares, compared to its average volume of 759,776. The stock has a market capitalization of $2.44 billion, a P/E ratio of -91.32, a price-to-earnings-growth ratio of 1.11 and a beta of 1.01. The company has a quick ratio of 1.21, a current ratio of 1.69 and a debt-to-equity ratio of 0.57. Utz Brands, Inc. has a 1-year low of $11.67 and a 1-year high of $20.04. The firm’s 50 day moving average is $17.31 and its 200-day moving average is $17.24.

Utz Brands (NYSE:UTZ) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.21 earnings per share (EPS) 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 business had revenue of $365.50 million during the quarter, compared to the consensus estimate of $363.98 million. During the same quarter last year, the firm posted $0.17 EPS. The company’s quarterly revenue was down 1.7% on a year-over-year basis. On average, analysts expect that Utz Brands, Inc. will post 0.74 earnings per share for the current fiscal year.

Utz Brands Announces Dividend

The firm also recently declared a None dividend, which was paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th were issued a dividend of $0.011 per share. This represents a yield of 1.3%. The ex-dividend date of this dividend was Monday, September 16th. Utz Brands’s dividend payout ratio is -121.05%.

Analyst Ratings Changes

A number of equities analysts have weighed in on UTZ shares. Needham & Company LLC reaffirmed a “buy” rating and set a $22.00 price target on shares of Utz Brands in a research report on Friday, August 2nd. Barclays reduced their price target on Utz Brands from $23.00 to $19.00 and set an “overweight” rating for the company in a research report on Friday, July 19th. Finally, Piper Sandler upped 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 stock currently has an average rating of “Moderate Buy” and a consensus target price of $21.10.

Insider Buying and Selling at Utz Brands

In other Utz Brands news, Director Bruce John Lindeman purchased 4,000 shares of the business’s stock in a transaction on Monday, August 5th. The stock was acquired at an average price of $16.11 per share, with a total value of $64,440.00. Following the acquisition, the director now directly owns 42,480 shares of the company’s stock, valued at $684,352.80. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 17.00% of the company’s stock.

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.