TD Cowen Cuts Utz Brands (NYSE:UTZ) Price Target to $17.00

Utz Brands (NYSE:UTZ) had its price target lowered by TD Cowen from $21.00 to $17.00 in a research report released on Wednesday,Benzinga reports. TD Cowen currently has a buy rating on the stock.

Other equities research analysts also recently issued reports about the stock. Piper Sandler boosted their target price on shares of Utz Brands from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Mizuho dropped their target price on Utz Brands from $24.00 to $21.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $20.80.

Utz Brands Trading Down 4.9 %

NYSE:UTZ opened at $13.45 on Wednesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.85 and a current ratio of 1.21. Utz Brands has a 1 year low of $13.37 and a 1 year high of $20.04. The stock has a fifty day moving average price of $16.43 and a two-hundred day moving average price of $16.63. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of -70.79, a PEG ratio of 1.18 and a beta of 1.03.

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

Utz Brands Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th were issued a dividend of $0.061 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.81%. This is an increase from Utz Brands’s previous quarterly dividend of $0.06. Utz Brands’s dividend payout ratio (DPR) is currently -126.32%.

Insider Activity

In other Utz Brands news, insider Cc Collier Holdings, Llc sold 2,815,404 shares of the stock in a transaction dated 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 sale, the insider now owns 496,038 shares of the company’s stock, valued at $8,576,497.02. This represents a 85.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Cary Devore sold 30,000 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $17.32, for a total value of $519,600.00. Following the completion of the transaction, the executive vice president now owns 451,117 shares in the company, valued at $7,813,346.44. The trade was a 6.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Utz Brands

A number of institutional investors have recently made changes to their positions in UTZ. Victory Capital Management Inc. lifted its position in shares of 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. State Street Corp boosted its position in Utz Brands by 9.5% during the third quarter. State Street Corp now owns 1,758,961 shares of the company’s stock worth $31,256,000 after purchasing an additional 152,868 shares during the period. Mercer Global Advisors Inc. ADV bought a new stake in shares of Utz Brands during the 2nd quarter worth about $1,981,000. Barclays PLC grew its position in shares of Utz Brands by 21.4% in the third quarter. Barclays PLC now owns 555,477 shares of the company’s stock valued at $9,831,000 after purchasing an additional 97,767 shares during the last quarter. Finally, NFJ Investment Group LLC acquired a new position in Utz Brands in the 3rd quarter valued at $1,651,000. 95.97% of the stock is owned by institutional investors and hedge funds.

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.