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

Utz Brands, Inc. (NYSE:UTZ - Get Free Report) announced a quarterly dividend on Thursday, March 27th, RTT News reports. Stockholders 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%. The ex-dividend date of this dividend is Monday, April 7th.

Utz Brands has raised its dividend by an average of 5.3% annually over the last three years. Utz Brands has a payout ratio of 25.3% meaning 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 Stock Performance

NYSE:UTZ traded down $0.02 during mid-day trading on Monday, reaching $14.08. 1,087,246 shares of the company's stock were exchanged, compared to its average volume of 822,620. Utz Brands has a one year low of $12.71 and a one year high of $20.04. 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 business's fifty day simple moving average is $13.65 and its two-hundred day simple moving average is $15.57. The firm has a market capitalization of $1.99 billion, a PE ratio of 78.19, a price-to-earnings-growth ratio of 0.86 and a beta of 1.05.

Utz Brands (NYSE:UTZ - Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.19 by $0.03. The company had revenue of $341.05 million for the quarter, compared to analysts' expectations of $349.93 million. Utz Brands had a net margin of 1.13% and a return on equity of 7.92%. During the same period last year, the firm earned $0.16 earnings per share. Analysts anticipate that Utz Brands will post 0.85 earnings per share for the current fiscal year.

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Analyst Upgrades and Downgrades

Several research firms have recently issued reports on UTZ. TD Cowen reduced their target price on Utz Brands from $21.00 to $17.00 and set a "buy" rating on the stock in a report on Wednesday, January 8th. Barclays reduced their price objective on shares of Utz Brands from $19.00 to $17.00 and set an "overweight" rating on the stock in a research note on Friday, January 17th. Piper Sandler dropped their target price on shares of Utz Brands from $24.00 to $20.00 and set an "overweight" rating for the company in a research report on Thursday, January 16th. Mizuho cut their price target on shares of Utz Brands from $21.00 to $19.00 and set an "outperform" rating for the company in a report on Monday, February 10th. Finally, DA Davidson decreased their price objective on shares of Utz Brands from $18.00 to $16.00 and set a "neutral" rating on the stock in a research note on Monday, February 24th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $19.25.

Insider Activity at Utz Brands

In related news, insider Cc Collier Holdings, Llc sold 496,038 shares of the business's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $13.40, for a total transaction of $6,646,909.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Howard A. Friedman bought 3,525 shares of the stock in a transaction on Monday, February 24th. The stock was purchased at an average cost of $14.16 per share, with a total value of $49,914.00. Following the acquisition, the chief executive officer now owns 265,729 shares in the company, valued at approximately $3,762,722.64. This represents a 1.34 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 16.32% of the stock is currently owned by insiders.

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.