Utz Brands, Inc. (NYSE:UTZ) to Issue Quarterly Dividend of $0.01

Utz Brands, Inc. (NYSE:UTZ) announced a quarterly dividend on Thursday, March 27th, RTT News reports. Investors of record on Monday, April 7th will be paid a dividend of 0.011 per share on Thursday, April 24th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.31%.

Utz Brands has increased its dividend by an average of 5.3% annually over the last three years. Utz Brands has a dividend payout ratio of 25.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Utz Brands to earn $0.92 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 26.1%.

Utz Brands Price Performance

Utz Brands stock traded up $0.33 during midday trading on Thursday, hitting $14.12. 791,028 shares of the company’s stock were exchanged, compared to its average volume of 793,976. The company has a market cap of $2.00 billion, a P/E ratio of 78.47, a PEG ratio of 0.86 and a beta of 1.05. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.85 and a current ratio of 1.21. The stock has a 50-day moving average price of $13.66 and a two-hundred day moving average price of $15.66. Utz Brands has a 52-week low of $12.71 and a 52-week high of $20.04.

Utz Brands (NYSE:UTZ) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.03. Utz Brands had a net margin of 1.13% and a return on equity of 7.92%. The firm had revenue of $341.05 million for the quarter, compared to analysts’ expectations of $349.93 million. During the same quarter last year, the company posted $0.16 EPS. On average, equities research analysts forecast that Utz Brands will post 0.85 earnings per share for the current year.

Insider Buying and Selling at Utz Brands

In other Utz Brands news, insider Cc Collier Holdings, Llc sold 496,038 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $13.40, for a total value of $6,646,909.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Howard A. Friedman bought 3,525 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were bought at an average cost of $14.16 per share, for a total transaction of $49,914.00. Following the purchase, the chief executive officer now directly owns 265,729 shares in the company, valued at approximately $3,762,722.64. This represents a 1.34 % increase in their position. The disclosure for this purchase can be found here. 17.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

UTZ has been the subject of a number of recent research reports. Piper Sandler dropped their target price on Utz Brands from $24.00 to $20.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Barclays cut their price objective on shares of Utz Brands from $19.00 to $17.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. TD Cowen decreased their target price on shares of Utz Brands from $21.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Royal Bank of Canada cut their price target on shares of Utz Brands from $23.00 to $20.00 and set an “outperform” rating for the company in a research report on Monday, February 24th. Finally, DA Davidson decreased their price objective on Utz Brands from $18.00 to $16.00 and set a “neutral” rating on the stock in a report on Monday, February 24th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $19.25.

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.