Utz Brands (NYSE:UTZ) Hits New 12-Month Low - Here's What Happened

Utz Brands, Inc. (NYSE:UTZ - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $12.70 and last traded at $12.74, with a volume of 652723 shares traded. The stock had previously closed at $13.22.

Analysts Set New Price Targets

A number of brokerages recently weighed in on UTZ. Barclays cut their price target on shares of Utz Brands from $19.00 to $17.00 and set an "overweight" rating on the stock in a research report on Friday, January 17th. Royal Bank of Canada reduced their price target on shares of Utz Brands from $23.00 to $20.00 and set an "outperform" rating on the stock in a research report on Monday, February 24th. TD Cowen dropped their price objective on Utz Brands from $21.00 to $17.00 and set a "buy" rating on the stock in a research note on Wednesday, January 8th. Mizuho decreased their target price on Utz Brands from $21.00 to $19.00 and set an "outperform" rating for the company in a research note on Monday, February 10th. Finally, Piper Sandler dropped their price target on Utz Brands from $24.00 to $20.00 and set an "overweight" rating on the stock in a research report on Thursday, January 16th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $19.25.

Utz Brands Stock Performance

The stock has a fifty day moving average of $13.62 and a 200-day moving average of $15.26. The firm has a market capitalization of $1.86 billion, a P/E ratio of 73.25, a P/E/G ratio of 0.86 and a beta of 1.10. The company has a quick ratio of 0.85, a current ratio of 1.21 and a debt-to-equity ratio of 0.56.

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Utz Brands (NYSE:UTZ - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.03. The company had revenue of $341.05 million during the quarter, compared to analysts' expectations of $349.93 million. Utz Brands had a net margin of 1.13% and a return on equity of 7.92%. During the same period last year, the business earned $0.16 EPS. On average, research analysts anticipate that Utz Brands, Inc. will post 0.85 EPS for the current year.

Utz Brands Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Monday, April 7th will be given a dividend of $0.011 per share. The ex-dividend date is Monday, April 7th. This represents a $0.04 annualized dividend and a yield of 0.33%. Utz Brands's dividend payout ratio is 133.33%.

Insider Activity at Utz Brands

In other Utz Brands news, insider Cc Collier Holdings, Llc sold 496,038 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $13.40, for a total value of $6,646,909.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Howard A. Friedman bought 3,525 shares of Utz Brands stock in a transaction dated Monday, February 24th. The stock was acquired at an average cost of $14.16 per share, with a total value of $49,914.00. Following the completion of the acquisition, the chief executive officer now owns 265,729 shares of the company's stock, valued at $3,762,722.64. This represents a 1.34 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 16.32% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Newton One Investments LLC purchased a new position in shares of Utz Brands in the 4th quarter worth about $26,000. Venturi Wealth Management LLC purchased a new position in Utz Brands in the fourth quarter valued at approximately $54,000. Tower Research Capital LLC TRC grew its holdings in Utz Brands by 112.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,697 shares of the company's stock valued at $121,000 after purchasing an additional 4,078 shares during the period. Moody National Bank Trust Division purchased a new stake in Utz Brands in the fourth quarter worth $169,000. Finally, Parallel Advisors LLC grew its stake in shares of Utz Brands by 38.9% during the 1st quarter. Parallel Advisors LLC now owns 12,904 shares of the company's stock worth $182,000 after acquiring an additional 3,616 shares during the period. Institutional investors own 95.97% of the company's stock.

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.