Utz Brands, Inc. (NYSE:UTZ) to Issue Quarterly Dividend of $0.06

Utz Brands, Inc. (NYSE:UTZ - Get Free Report) announced a quarterly dividend on Friday, December 6th,Wall Street Journal reports. Shareholders of record on Monday, December 16th will be paid a dividend of 0.061 per share on Thursday, January 2nd. This represents a $0.24 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend is Monday, December 16th. This is a boost from Utz Brands's previous quarterly dividend of $0.06.

Utz Brands has raised its dividend payment by an average of 27.5% per year over the last three years. Utz Brands has a payout ratio of 28.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Utz Brands to earn $0.83 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 28.9%.

Utz Brands Trading Up 0.6 %

Shares of NYSE UTZ traded up $0.10 during midday trading on Friday, reaching $16.92. 358,669 shares of the stock were exchanged, compared to its average volume of 750,536. Utz Brands has a 12 month low of $13.29 and a 12 month high of $20.04. The company has a market capitalization of $2.38 billion, a price-to-earnings ratio of -88.95, a P/E/G ratio of 1.18 and a beta of 1.01. 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 business has a 50-day simple moving average of $17.09 and a two-hundred day simple moving average of $17.03.

Utz Brands (NYSE:UTZ - Get Free Report) last posted its earnings results on Thursday, October 31st. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.01. The firm had revenue of $365.50 million for the quarter, compared to analyst estimates of $363.98 million. Utz Brands had a positive return on equity of 7.25% and a negative net margin of 0.99%. The company's revenue for the quarter was down 1.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.17 earnings per share. As a group, equities research analysts expect that Utz Brands will post 0.73 EPS for the current year.

Insiders Place Their Bets

In related news, insider Cc Collier Holdings, Llc sold 2,815,404 shares of Utz Brands stock in a transaction dated 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 completion of the transaction, the insider now 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Cary Devore sold 30,000 shares of the company'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 value of $519,600.00. Following the completion of the sale, the executive vice president now owns 451,117 shares in the company, valued at $7,813,346.44. This represents a 6.24 % decrease in their position. The disclosure for this sale can be found here. Insiders own 17.00% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Piper Sandler increased their target price on Utz Brands from $22.00 to $24.00 and gave the stock an "overweight" rating in a report on Friday, November 1st. Mizuho decreased their price objective on Utz Brands from $24.00 to $21.00 and set an "outperform" rating for the company in a report on Monday, November 4th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Utz Brands presently has an average rating of "Moderate Buy" and an average target price of $21.22.

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.

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