Ameritas Investment Partners Inc. bought a new stake in Utz Brands, Inc. (NYSE:UTZ) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 4,623 shares of the company’s stock, valued at approximately $101,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. KB Financial Partners LLC purchased a new stake in Utz Brands in the first quarter valued at approximately $34,000. IFP Advisors Inc raised its position in Utz Brands by 41.0% in the second quarter. IFP Advisors Inc now owns 1,720 shares of the company’s stock valued at $38,000 after purchasing an additional 500 shares during the period. Captrust Financial Advisors raised its position in Utz Brands by 359.1% in the first quarter. Captrust Financial Advisors now owns 4,591 shares of the company’s stock valued at $114,000 after purchasing an additional 3,591 shares during the period. Wolverine Asset Management LLC acquired a new position in shares of Utz Brands in the first quarter worth $196,000. Finally, Royal Bank of Canada grew its stake in shares of Utz Brands by 36.4% in the first quarter. Royal Bank of Canada now owns 9,041 shares of the company’s stock worth $225,000 after acquiring an additional 2,415 shares in the last quarter. 41.21% of the stock is currently owned by institutional investors.
In related news, Director John W. Altmeyer purchased 5,000 shares of Utz Brands stock in a transaction that occurred on Monday, August 16th. The stock was purchased at an average cost of $18.67 per share, with a total value of $93,350.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 17.32% of the stock is owned by insiders.
Utz Brands (NYSE:UTZ) last announced its quarterly earnings results on Wednesday, August 11th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). Utz Brands had a negative net margin of 1.68% and a positive return on equity of 3.55%. As a group, equities analysts expect that Utz Brands, Inc. will post 0.6 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 11th. Investors of record on Monday, September 20th will be given a $0.05 dividend. The ex-dividend date of this dividend is Friday, September 17th. This represents a $0.20 dividend on an annualized basis and a yield of 1.08%.
Several equities analysts have commented on the stock. Stephens dropped their price target on shares of Utz Brands from $27.00 to $23.00 and set an “overweight” rating for the company in a research note on Friday, August 13th. Zacks Investment Research downgraded shares of Utz Brands from a “hold” rating to a “sell” rating in a research note on Wednesday, June 30th. Finally, The Goldman Sachs Group dropped their price target on shares of Utz Brands from $25.00 to $20.50 and set a “neutral” rating for the company in a research note on Tuesday, August 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $25.96.
Utz Brands Profile
UTZ Brands, Inc manufactures, markets, and distributes branded snacking products. It offers a broad range of salty snacks, including potato chips, pretzels, cheese snacks, veggie snacks, pork skins and other snacks. The firm’s brands include Utz, Zapp’s, Golden Flake, Good Health, Boulder Canyon and Hawaiian.
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