Brokerages Set Utz Brands, Inc. (NYSE:UTZ) Price Target at $21.22

Utz Brands, Inc. (NYSE:UTZ - Get Free Report) has been assigned an average rating of "Moderate Buy" from the nine ratings firms that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $21.22.

Several brokerages have recently weighed in on UTZ. Piper Sandler lifted their target price on shares of Utz Brands from $22.00 to $24.00 and gave the company an "overweight" rating in a research report on Friday, November 1st. Mizuho decreased their price objective on Utz Brands from $24.00 to $21.00 and set an "outperform" rating on the stock in a report on Monday, November 4th.

Utz Brands Stock Performance

Shares of UTZ stock traded up $0.12 during mid-day trading on Wednesday, reaching $15.66. The stock had a trading volume of 372,638 shares, compared to its average volume of 743,010. Utz Brands has a one year low of $14.17 and a one year high of $20.04. The firm has a market cap of $2.21 billion, a PE ratio of -82.42, a P/E/G ratio of 1.18 and a beta of 1.01. The firm's 50 day simple moving average is $16.94 and its 200 day simple moving average is $16.87. The company has a quick ratio of 0.85, a current ratio of 1.21 and a debt-to-equity ratio of 0.56.

Utz Brands (NYSE:UTZ - Get Free Report) last issued its earnings results on Thursday, October 31st. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.20 by $0.01. The firm had revenue of $365.50 million during the quarter, compared to analysts' expectations of $363.98 million. Utz Brands had a positive return on equity of 7.25% and a negative net margin of 0.99%. Utz Brands's quarterly revenue was down 1.7% compared to the same quarter last year. During the same period last year, the business earned $0.17 earnings per share. On average, analysts forecast that Utz Brands will post 0.74 EPS for the current year.

Utz Brands Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th will be issued a $0.061 dividend. This is an increase from Utz Brands's previous quarterly dividend of $0.06. This represents a $0.24 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend is Monday, December 16th. Utz Brands's payout ratio is presently -126.32%.

Insider Buying and Selling

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 value of $48,678,335.16. Following the transaction, the insider now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Cary Devore sold 30,000 shares of the business's 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 of the company's stock, valued at approximately $7,813,346.44. This represents a 6.24 % decrease in their position. The disclosure for this sale can be found here. 17.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Utz Brands

Several hedge funds have recently bought and sold shares of the company. Fifth Third Bancorp acquired a new position in shares of Utz Brands during the 2nd quarter worth $44,000. Canada Pension Plan Investment Board acquired a new position in Utz Brands during the second quarter worth about $80,000. SG Americas Securities LLC acquired a new stake in shares of Utz Brands in the 2nd quarter valued at approximately $103,000. nVerses Capital LLC bought a new stake in shares of Utz Brands during the 3rd quarter valued at approximately $142,000. Finally, XTX Topco Ltd acquired a new position in Utz Brands during the 2nd quarter worth approximately $185,000. 95.97% of the stock is owned by 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.