Utz Brands, Inc. (NYSE:UTZ) Receives $20.20 Consensus Target Price from Analysts

Utz Brands, Inc. (NYSE:UTZ) has been given an average recommendation of “Moderate Buy” by the ten analysts that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $20.20.

A number of equities research analysts have issued reports on UTZ shares. Piper Sandler cut their price target on Utz Brands from $24.00 to $20.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. Barclays dropped their price objective on shares of Utz Brands from $19.00 to $17.00 and set an “overweight” rating for the company in a report on Friday, January 17th. TD Cowen dropped their price objective on shares of Utz Brands from $21.00 to $17.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Finally, Mizuho dropped their price objective on shares of Utz Brands from $24.00 to $21.00 and set an “outperform” rating for the company in a report on Monday, November 4th.

Utz Brands Trading Down 2.2 %

NYSE:UTZ opened at $13.93 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.21 and a quick ratio of 0.85. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of -73.29, a price-to-earnings-growth ratio of 0.91 and a beta of 1.03. Utz Brands has a one year low of $13.36 and a one year high of $20.04. The business has a fifty day moving average price of $16.02 and a 200-day moving average price of $16.52.

Utz Brands (NYSE:UTZ) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.21 earnings per share (EPS) 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 business had revenue of $365.50 million during the quarter, compared to analyst estimates of $363.98 million. During the same quarter in the prior year, the business posted $0.17 EPS. Utz Brands’s revenue for the quarter was down 1.7% compared to the same quarter last year. Sell-side analysts forecast that Utz Brands will post 0.74 EPS for the current year.

Utz Brands Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 16th were issued a $0.061 dividend. This is an increase from Utz Brands’s previous quarterly dividend of $0.06. 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 1.75%. Utz Brands’s dividend payout ratio (DPR) is presently -126.32%.

Insider Activity at Utz Brands

In other news, EVP Cary Devore sold 30,000 shares of the firm’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 transaction, the executive vice president now directly owns 451,117 shares of the company’s stock, valued at approximately $7,813,346.44. This trade represents a 6.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 stock was sold at an average price of $17.29, for a total transaction of $48,678,335.16. Following the transaction, 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 disclosure for this sale can be found here. 17.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Utz Brands

A number of institutional investors have recently modified their holdings of the stock. Creative Planning boosted its holdings in Utz Brands by 8.2% during the second quarter. Creative Planning now owns 37,155 shares of the company’s stock worth $618,000 after buying an additional 2,802 shares in the last quarter. Rhumbline Advisers boosted its holdings in Utz Brands by 3.6% during the second quarter. Rhumbline Advisers now owns 99,286 shares of the company’s stock worth $1,652,000 after buying an additional 3,466 shares in the last quarter. Truist Financial Corp boosted its holdings in Utz Brands by 20.8% during the second quarter. Truist Financial Corp now owns 24,209 shares of the company’s stock worth $403,000 after buying an additional 4,176 shares in the last quarter. Legacy Wealth Asset Management LLC raised its position in Utz Brands by 11.6% during the third quarter. Legacy Wealth Asset Management LLC now owns 40,176 shares of the company’s stock worth $711,000 after acquiring an additional 4,182 shares during the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in Utz Brands during the second quarter worth about $80,000. 95.97% of the stock is owned by hedge funds and other institutional investors.

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.