Utz Brands, Inc. (NYSE:UTZ) Receives $21.22 Consensus Price Target from Analysts

Utz Brands, Inc. (NYSE:UTZ) has been assigned a consensus recommendation of “Moderate Buy” from the nine brokerages that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $21.22.

Several research analysts recently weighed in on UTZ shares. Mizuho cut their target price on shares of Utz Brands from $24.00 to $21.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. Piper Sandler boosted their price objective on shares of Utz Brands from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Friday, November 1st.

Insider Activity at Utz Brands

In other 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 value of $48,678,335.16. Following the completion of the sale, the insider now directly owns 496,038 shares in the company, valued at approximately $8,576,497.02. The trade was a 85.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Cary Devore sold 30,000 shares of Utz Brands stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 451,117 shares of the company’s stock, valued at approximately $7,813,346.44. This represents a 6.24 % decrease in their position. The disclosure for this sale can be found here. 17.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Utz Brands

Several large investors have recently added to or reduced their stakes in the stock. State Street Corp grew 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 worth $31,256,000 after purchasing an additional 152,868 shares during the last quarter. Vestcor Inc increased its position in Utz Brands by 11.4% in the 3rd quarter. Vestcor Inc now owns 296,100 shares of the company’s stock valued at $5,241,000 after acquiring an additional 30,400 shares during the period. Geode Capital Management LLC increased its position in Utz Brands by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,548,231 shares of the company’s stock valued at $27,409,000 after acquiring an additional 47,320 shares during the period. Principal Financial Group Inc. bought a new stake in Utz Brands during the 2nd quarter valued at $914,000. Finally, Kimelman & Baird LLC acquired a new position in Utz Brands during the 2nd quarter worth $907,000. 95.97% of the stock is owned by institutional investors and hedge funds.

Utz Brands Trading Down 0.8 %

Shares of Utz Brands stock opened at $15.57 on Wednesday. The company has a 50-day moving average of $16.83 and a two-hundred day moving average of $16.83. Utz Brands has a 12-month low of $14.17 and a 12-month high of $20.04. 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 $2.19 billion, a PE ratio of -81.95, a price-to-earnings-growth ratio of 1.18 and a beta of 1.01.

Utz Brands (NYSE:UTZ) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.21 earnings per share for the quarter, beating 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 business had revenue of $365.50 million during the quarter, compared to analysts’ expectations of $363.98 million. During the same quarter last year, the business posted $0.17 earnings per share. The business’s revenue for the quarter was down 1.7% on a year-over-year basis. On average, research analysts anticipate that Utz Brands will post 0.74 EPS for the current fiscal year.

Utz Brands Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th will be paid a dividend of $0.061 per share. This is a boost from Utz Brands’s previous quarterly dividend of $0.06. This represents a $0.24 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Monday, December 16th. Utz Brands’s dividend payout ratio is -126.32%.

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.