Utz Brands (NYSE:UTZ) Sets New 1-Year Low - What's Next?

Utz Brands, Inc. (NYSE:UTZ - Get Free Report)'s stock price reached a new 52-week low on Monday . The stock traded as low as $13.00 and last traded at $13.03, with a volume of 30915 shares trading hands. The stock had previously closed at $13.36.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Piper Sandler lowered their target price on Utz Brands from $24.00 to $20.00 and set an "overweight" rating for the company in a research note on Thursday, January 16th. TD Cowen lowered their price objective on shares of Utz Brands from $21.00 to $17.00 and set a "buy" rating for the company in a research report on Wednesday, January 8th. Mizuho cut their price objective on shares of Utz Brands from $24.00 to $21.00 and set an "outperform" rating on the stock in a research report on Monday, November 4th. Finally, Barclays lowered their target price on Utz Brands from $19.00 to $17.00 and set an "overweight" rating for the company in a report on Friday, January 17th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $20.20.

Utz Brands Trading Up 1.4 %

The firm has a market cap of $1.91 billion, a price-to-earnings ratio of -71.24, a P/E/G ratio of 0.85 and a beta of 1.02. 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 moving average of $15.22 and a 200-day moving average of $16.33.

Utz Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th were paid a dividend of $0.061 per share. 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 1.80%. This is a boost from Utz Brands's previous quarterly dividend of $0.06. Utz Brands's dividend payout ratio is currently -126.32%.

Hedge Funds Weigh In On Utz Brands

Institutional investors have recently added to or reduced their stakes in the company. Creative Planning grew its position in shares of Utz Brands by 8.2% in the 2nd quarter. Creative Planning now owns 37,155 shares of the company's stock valued at $618,000 after acquiring an additional 2,802 shares during the period. Truist Financial Corp grew its holdings in Utz Brands by 20.8% during the second quarter. Truist Financial Corp now owns 24,209 shares of the company's stock worth $403,000 after purchasing an additional 4,176 shares during the period. SG Americas Securities LLC increased its position in Utz Brands by 279.2% during the third quarter. SG Americas Securities LLC now owns 23,510 shares of the company's stock worth $416,000 after buying an additional 17,310 shares during the last quarter. nVerses Capital LLC acquired a new position in Utz Brands during the third quarter worth approximately $142,000. Finally, Legacy Wealth Asset Management LLC raised its stake in Utz Brands by 11.6% in the third quarter. Legacy Wealth Asset Management LLC now owns 40,176 shares of the company's stock valued at $711,000 after buying an additional 4,182 shares during the period. 95.97% of the stock is currently owned by institutional investors and hedge funds.

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.