Utz Brands (NYSE:UTZ) Reaches New 1-Year Low - Here's Why

Utz Brands, Inc. (NYSE:UTZ - Get Free Report) reached a new 52-week low on Friday . The company traded as low as $13.34 and last traded at $13.36, with a volume of 748253 shares. The stock had previously closed at $13.89.

Analyst Upgrades and Downgrades

UTZ has been the subject of several recent research reports. Mizuho lowered their price objective on shares of Utz Brands from $24.00 to $21.00 and set an "outperform" rating for the company 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 for the company in a report on Wednesday, January 8th. Piper Sandler cut their price objective on shares of Utz Brands from $24.00 to $20.00 and set an "overweight" rating on the stock in a report on Thursday, January 16th. 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 research note on Friday, January 17th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $20.20.

Utz Brands Stock Down 4.9 %

The firm has a market cap of $1.86 billion, a P/E ratio of -69.56, a PEG ratio of 0.87 and a beta of 1.03. The firm's 50-day moving average price is $15.77 and its 200 day moving average price is $16.44. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.21 and a quick ratio of 0.85.

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, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $363.98 million. During the same quarter last year, the business posted $0.17 EPS. Utz Brands's quarterly revenue was down 1.7% compared to the same quarter last year. On average, equities research analysts expect that Utz Brands, Inc. will post 0.74 earnings per share for the current fiscal year.

Utz Brands Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th were paid a dividend of $0.061 per share. 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 1.85%. Utz Brands's payout ratio is presently -126.32%.

Insiders Place Their Bets

In related news, insider Cc Collier Holdings, Llc sold 2,815,404 shares of the business's stock in a transaction that occurred on 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 $8,576,497.02. The trade was a 85.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Cary Devore sold 30,000 shares of the stock in a transaction on Monday, November 4th. The stock was 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 directly owns 451,117 shares in the company, valued at $7,813,346.44. This represents a 6.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Utz Brands

Hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp increased its position in Utz Brands by 9.5% in the 3rd quarter. State Street Corp now owns 1,758,961 shares of the company's stock valued at $31,256,000 after acquiring an additional 152,868 shares during the period. Vestcor Inc increased its holdings in shares of Utz Brands by 11.4% during the third quarter. Vestcor Inc now owns 296,100 shares of the company's stock valued at $5,241,000 after purchasing an additional 30,400 shares during the period. Geode Capital Management LLC raised its stake in shares of Utz Brands by 3.2% during the third quarter. Geode Capital Management LLC now owns 1,548,231 shares of the company's stock valued at $27,409,000 after purchasing an additional 47,320 shares in the last quarter. Kimelman & Baird LLC acquired a new stake in Utz Brands in the second quarter worth about $907,000. Finally, Barclays PLC grew its position in Utz Brands by 21.4% in the 3rd quarter. Barclays PLC now owns 555,477 shares of the company's stock valued at $9,831,000 after buying an additional 97,767 shares in the last quarter. Institutional investors and hedge funds 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.