Utz Brands (NYSE:UTZ) Sets New 52-Week Low - What's Next?

Utz Brands, Inc. (NYSE:UTZ - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $13.46 and last traded at $13.57, with a volume of 84318 shares traded. The stock had previously closed at $14.49.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on UTZ. Mizuho lowered their price objective on Utz Brands from $24.00 to $21.00 and set an "outperform" rating on the stock in a research report on Monday, November 4th. TD Cowen lowered their price target on shares of Utz Brands from $21.00 to $17.00 and set a "buy" rating on the stock in a report on Wednesday. Finally, Piper Sandler raised their price objective on shares of Utz Brands from $22.00 to $24.00 and gave the stock an "overweight" rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Utz Brands presently has a consensus rating of "Moderate Buy" and an average price target of $20.80.

Utz Brands Trading Down 2.3 %

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 stock has a market cap of $1.99 billion, a P/E ratio of -74.53, a price-to-earnings-growth ratio of 1.18 and a beta of 1.03. The business's fifty day simple moving average is $16.57 and its 200 day simple moving average is $16.68.

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

Utz Brands Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th were paid a $0.061 dividend. This is a positive change 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 annualized dividend and a yield of 1.72%. Utz Brands's dividend payout ratio is presently -126.32%.

Insider Transactions at Utz Brands

In other Utz Brands news, EVP Cary Devore sold 30,000 shares of Utz Brands stock in a transaction dated 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 approximately $7,813,346.44. The trade was a 6.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Cc Collier Holdings, Llc sold 2,815,404 shares of the 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 of the company's stock, valued at $8,576,497.02. This trade represents a 85.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 17.00% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Canada Pension Plan Investment Board acquired a new position in Utz Brands during the second quarter worth $80,000. nVerses Capital LLC bought a new position in Utz Brands in the third quarter valued at approximately $142,000. XTX Topco Ltd acquired a new position in shares of Utz Brands during the 2nd quarter worth approximately $185,000. MQS Management LLC bought a new stake in shares of Utz Brands during the 2nd quarter worth approximately $187,000. Finally, Choreo LLC acquired a new stake in shares of Utz Brands in the 2nd quarter valued at approximately $195,000. Institutional investors and hedge funds 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.