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

Shares of Utz Brands, Inc. (NYSE:UTZ - Get Free Report) have earned an average recommendation of "Moderate Buy" from the ten analysts that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $20.20.

UTZ has been the subject of several research reports. Piper Sandler cut 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. TD Cowen cut their price objective on Utz Brands from $21.00 to $17.00 and set a "buy" rating for the company in a report on Wednesday, January 8th. 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. Finally, Barclays dropped their target price on Utz Brands from $19.00 to $17.00 and set an "overweight" rating for the company in a research report on Friday.

Utz Brands Price Performance

NYSE UTZ traded up $0.34 during trading on Friday, reaching $14.26. The company's stock had a trading volume of 806,378 shares, compared to its average volume of 682,476. The stock has a market capitalization of $2.01 billion, a PE ratio of -75.07, a P/E/G ratio of 0.86 and a beta of 1.03. 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 fifty day moving average of $16.09 and a 200 day moving average of $16.53. Utz Brands has a one year low of $13.36 and a one year high of $20.04.

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

Utz Brands Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th were issued a dividend of $0.061 per share. 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 1.71%. Utz Brands's dividend payout ratio is -126.32%.

Insider Activity

In other Utz Brands news, insider Cc Collier Holdings, Llc sold 2,815,404 shares of the company's 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 sale, the insider now owns 496,038 shares in the company, valued at $8,576,497.02. This represents a 85.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Cary Devore sold 30,000 shares of the firm's stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $17.32, for a total value of $519,600.00. Following the completion of the transaction, the executive vice president now directly owns 451,117 shares in the company, valued at $7,813,346.44. This trade represents a 6.24 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 17.00% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Rhumbline Advisers raised its stake in Utz Brands by 3.6% during the 2nd quarter. Rhumbline Advisers now owns 99,286 shares of the company's stock valued at $1,652,000 after purchasing an additional 3,466 shares during the period. Choreo LLC bought a new stake in shares of Utz Brands during the second quarter valued at approximately $195,000. American Century Companies Inc. lifted its holdings in shares of Utz Brands by 10.9% in the second quarter. American Century Companies Inc. now owns 81,441 shares of the company's stock worth $1,355,000 after buying an additional 7,981 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Utz Brands by 2.1% in the second quarter. Envestnet Asset Management Inc. now owns 696,019 shares of the company's stock worth $11,582,000 after buying an additional 14,647 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of Utz Brands during the second quarter worth $890,000. Institutional investors own 95.97% of the company's stock.

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.