Utz Brands (NYSE:UTZ) Price Target Lowered to $16.00 at DA Davidson

Utz Brands (NYSE:UTZ) had its target price trimmed by DA Davidson from $18.00 to $16.00 in a research note issued to investors on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other analysts also recently weighed in on UTZ. Barclays reduced their price target on shares of Utz Brands from $19.00 to $17.00 and set an “overweight” rating for the company in a report on Friday, January 17th. TD Cowen cut their target price on Utz Brands from $21.00 to $17.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. 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. Piper Sandler reduced their price objective on Utz Brands from $24.00 to $20.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. Finally, Mizuho lowered 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. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.30.

Utz Brands Price Performance

Shares of Utz Brands stock opened at $13.96 on Monday. 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 firm has a fifty day simple moving average of $14.28 and a 200-day simple moving average of $16.17. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of 77.54, a PEG ratio of 0.86 and a beta of 1.01. Utz Brands has a 1-year low of $12.71 and a 1-year high of $20.04.

Utz Brands (NYSE:UTZ) last released its earnings results on Thursday, February 20th. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.03. The firm had revenue of $341.05 million during the quarter, compared to analyst estimates of $349.93 million. Utz Brands had a net margin of 1.13% and a return on equity of 7.92%. During the same quarter in the previous year, the business earned $0.16 EPS. On average, sell-side analysts expect that Utz Brands will post 0.85 earnings per share for the current year.

Utz Brands Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th were paid a $0.061 dividend. 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 1.75%. The ex-dividend date was Monday, December 16th. Utz Brands’s dividend payout ratio (DPR) is 133.33%.

Insider Transactions at Utz Brands

In other Utz Brands news, CEO Howard A. Friedman acquired 3,525 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were acquired at an average cost of $14.16 per share, for a total transaction of $49,914.00. Following the completion of the acquisition, the chief executive officer now directly owns 265,729 shares of the company’s stock, valued at approximately $3,762,722.64. This represents a 1.34 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 17.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Utz Brands

Several institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp boosted its position in shares of 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 lifted its stake in Utz Brands by 11.4% in the third quarter. Vestcor Inc now owns 296,100 shares of the company’s stock valued at $5,241,000 after buying an additional 30,400 shares during the period. Geode Capital Management LLC boosted its holdings in Utz Brands by 3.2% during the third quarter. Geode Capital Management LLC now owns 1,548,231 shares of the company’s stock worth $27,409,000 after buying an additional 47,320 shares during the last quarter. Barclays PLC grew its position in shares of Utz Brands by 21.4% during the 3rd quarter. Barclays PLC now owns 555,477 shares of the company’s stock worth $9,831,000 after buying an additional 97,767 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Utz Brands by 5.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 571,161 shares of the company’s stock valued at $10,110,000 after acquiring an additional 28,484 shares during the last quarter. 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.