Utz Brands, Inc. (NYSE:UTZ) Receives $21.22 Consensus Price Target from Analysts

Shares of Utz Brands, Inc. (NYSE:UTZ) have received an average rating of “Moderate Buy” from the nine ratings firms that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $21.22.

Several brokerages recently weighed in on UTZ. Piper Sandler raised their target price on Utz Brands from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Mizuho reduced their price objective on shares of Utz Brands from $24.00 to $21.00 and set an “outperform” rating for the company in a research report on Monday, November 4th.

Insiders Place Their Bets

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

Institutional Trading of Utz Brands

A number of institutional investors have recently bought and sold shares of UTZ. State Street Corp grew its position in Utz Brands by 9.5% in the third quarter. State Street Corp now owns 1,758,961 shares of the company’s stock worth $31,256,000 after acquiring an additional 152,868 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Utz Brands by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,548,231 shares of the company’s stock valued at $27,409,000 after purchasing an additional 47,320 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Utz Brands by 19.0% in the third quarter. Victory Capital Management Inc. now owns 1,474,047 shares of the company’s stock worth $26,091,000 after purchasing an additional 235,622 shares in the last quarter. Envestnet Asset Management Inc. increased its position in Utz Brands by 2.1% during the second quarter. Envestnet Asset Management Inc. now owns 696,019 shares of the company’s stock worth $11,582,000 after buying an additional 14,647 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Utz Brands by 5.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 571,161 shares of the company’s stock valued at $10,110,000 after buying an additional 28,484 shares in the last quarter. Institutional investors and hedge funds own 95.97% of the company’s stock.

Utz Brands Trading Down 0.8 %

Shares of NYSE:UTZ opened at $15.57 on Wednesday. The company has a 50 day moving average of $16.83 and a 200-day moving average of $16.83. The company has a current ratio of 1.21, a quick ratio of 0.85 and a debt-to-equity ratio of 0.56. The firm has a market cap of $2.19 billion, a P/E ratio of -81.95, a P/E/G ratio of 1.18 and a beta of 1.01. Utz Brands has a twelve month low of $14.17 and a twelve month high of $20.04.

Utz Brands (NYSE:UTZ) last released its earnings results on Thursday, October 31st. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. Utz Brands had a positive return on equity of 7.25% and a negative net margin of 0.99%. The firm had revenue of $365.50 million during the quarter, compared to the consensus estimate of $363.98 million. During the same period in the prior year, the firm posted $0.17 earnings per share. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. As a group, analysts anticipate that Utz Brands will post 0.74 earnings per share for the current fiscal year.

Utz Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be paid a dividend of $0.061 per share. The ex-dividend date is Monday, December 16th. This is a positive change from Utz Brands’s previous quarterly dividend of $0.06. This represents a $0.24 dividend on an annualized basis and a yield of 1.57%. Utz Brands’s dividend payout ratio is currently -126.32%.

About Utz Brands

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.