Piper Sandler Cuts Utz Brands (NYSE:UTZ) Price Target to $20.00

Utz Brands (NYSE:UTZ) had its price objective reduced by Piper Sandler from $24.00 to $20.00 in a report released on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other research analysts have also issued reports about the company. Mizuho cut their target price on Utz Brands from $24.00 to $21.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. TD Cowen reduced their price objective on Utz Brands from $21.00 to $17.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $20.20.

Utz Brands Stock Up 2.5 %

Shares of NYSE:UTZ opened at $14.26 on Thursday. 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 $2.01 billion, a price-to-earnings ratio of -75.07, a PEG ratio of 0.86 and a beta of 1.03. The stock’s 50-day moving average price is $16.09 and its two-hundred day moving average price is $16.53. Utz Brands has a 12-month low of $13.36 and a 12-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 (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.01. The business 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 company’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period last year, the company earned $0.17 earnings per share. On average, research analysts forecast that Utz Brands will post 0.74 EPS for the current year.

Utz Brands Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th were given a dividend of $0.061 per share. This is a boost from Utz Brands’s previous quarterly dividend of $0.06. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date was Monday, December 16th. Utz Brands’s payout ratio is presently -126.32%.

Insider Activity at Utz Brands

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. State Street Corp raised its stake in shares of Utz Brands by 9.5% in the 3rd quarter. State Street Corp now owns 1,758,961 shares of the company’s stock valued at $31,256,000 after purchasing an additional 152,868 shares in the last quarter. Vestcor Inc increased its holdings in Utz Brands by 11.4% in the third quarter. Vestcor Inc now owns 296,100 shares of the company’s stock valued at $5,241,000 after buying an additional 30,400 shares during the last quarter. Geode Capital Management LLC raised its stake in Utz Brands by 3.2% during the third quarter. Geode Capital Management LLC now owns 1,548,231 shares of the company’s stock valued at $27,409,000 after buying an additional 47,320 shares in the last quarter. Kimelman & Baird LLC bought a new position in Utz Brands during the 2nd quarter worth approximately $907,000. Finally, Barclays PLC grew its position in shares of Utz Brands by 21.4% in the 3rd quarter. Barclays PLC now owns 555,477 shares of the company’s stock worth $9,831,000 after acquiring an additional 97,767 shares in the last quarter. 95.97% of the stock is currently owned by institutional investors.

Utz Brands Company 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.