Utz Brands, Inc. (NYSE:UTZ - Get Free Report)'s stock price hit a new 52-week low during trading on Tuesday . The stock traded as low as $13.37 and last traded at $13.94, with a volume of 1296538 shares. The stock had previously closed at $13.44.
Wall Street Analyst Weigh In
A number of research firms have weighed in on UTZ. Piper Sandler raised their price target on Utz Brands from $22.00 to $24.00 and gave the company an "overweight" rating in a research note on Friday, November 1st. TD Cowen reduced 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. Finally, Mizuho lowered their target price on Utz Brands from $24.00 to $21.00 and set an "outperform" rating on the stock in a research note on Monday, November 4th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $20.80.
Check Out Our Latest Research Report on UTZ
Utz Brands Stock Down 2.6 %
The company has a current ratio of 1.21, a quick ratio of 0.85 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of -71.42, a PEG ratio of 1.18 and a beta of 1.03. The firm's 50-day moving average price is $16.37 and its 200 day moving average price is $16.61.
Utz Brands (NYSE:UTZ - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.01. The firm had revenue of $365.50 million during the quarter, compared to the consensus estimate of $363.98 million. Utz Brands had a negative net margin of 0.99% and a positive return on equity of 7.25%. The company's revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.17 earnings per share. On average, sell-side analysts forecast that Utz Brands, Inc. will post 0.74 EPS for the current fiscal year.
Utz Brands Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 16th were issued a dividend of $0.061 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $0.24 annualized dividend and a yield of 1.80%. This is an increase from Utz Brands's previous quarterly dividend of $0.06. Utz Brands's dividend payout ratio is -126.32%.
Insiders Place Their Bets
In other news, insider Cc Collier Holdings, Llc sold 2,815,404 shares of Utz Brands stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $17.29, for a total transaction of $48,678,335.16. Following the completion of the sale, the insider now directly owns 496,038 shares of the company's stock, valued at approximately $8,576,497.02. The trade was a 85.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Cary Devore sold 30,000 shares of Utz Brands stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $17.32, for a total transaction of $519,600.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 17.00% of the company's stock.
Hedge Funds Weigh In On Utz Brands
A number of hedge funds and other institutional investors have recently made changes to their positions in UTZ. State Street Corp grew its stake in shares of Utz Brands by 9.5% in the 3rd quarter. State Street Corp now owns 1,758,961 shares of the company's stock worth $31,256,000 after buying an additional 152,868 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Utz Brands by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,548,231 shares of the company's stock worth $27,409,000 after purchasing an additional 47,320 shares during the last quarter. Victory Capital Management Inc. grew its position in Utz Brands by 19.0% during the 3rd quarter. Victory Capital Management Inc. now owns 1,474,047 shares of the company's stock valued at $26,091,000 after purchasing an additional 235,622 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in Utz Brands by 2.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 696,019 shares of the company's stock valued at $11,582,000 after purchasing an additional 14,647 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Utz Brands by 5.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 571,161 shares of the company's stock worth $10,110,000 after buying an additional 28,484 shares in the last quarter. Institutional investors own 95.97% of the company's stock.
About Utz Brands
(
Get Free Report)
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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