Utz Brands (NYSE:UTZ) Price Target Cut to $16.00 by Analysts at DA Davidson

Utz Brands (NYSE:UTZ) had its price objective lowered by DA Davidson from $18.00 to $16.00 in a research note published on Monday,Benzinga reports. DA Davidson currently has a neutral rating on the stock.

Several other research firms also recently commented on UTZ. TD Cowen lowered their target price on shares of Utz Brands from $21.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Royal Bank of Canada lowered their price target on 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 target price on Utz Brands from $24.00 to $20.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Barclays dropped their price objective on shares of Utz Brands from $19.00 to $17.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Finally, Mizuho lowered their target price on shares of Utz Brands from $21.00 to $19.00 and set an “outperform” rating on the stock in a report on Monday, February 10th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $19.30.

Utz Brands Price Performance

Shares of NYSE:UTZ opened at $13.75 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. Utz Brands has a 1 year low of $12.71 and a 1 year high of $20.04. The business has a fifty day simple moving average of $14.17 and a 200 day simple moving average of $16.13. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of 76.39, a P/E/G ratio of 0.86 and a beta of 1.02.

Utz Brands (NYSE:UTZ) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.03. Utz Brands had a return on equity of 7.92% and a net margin of 1.13%. The business had revenue of $341.05 million during the quarter, compared to analyst estimates of $349.93 million. During the same period last year, the company earned $0.16 earnings per share. As a group, sell-side analysts predict that Utz Brands will post 0.85 earnings per share for the current fiscal year.

Utz Brands Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 16th were given a $0.061 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.77%. This is an increase from Utz Brands’s previous quarterly dividend of $0.06. The ex-dividend date was Monday, December 16th. Utz Brands’s dividend payout ratio (DPR) is currently 133.33%.

Insider Activity at Utz Brands

In other news, CEO Howard A. Friedman purchased 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 transaction, the chief executive officer now directly owns 265,729 shares of the company’s stock, valued at approximately $3,762,722.64. The trade was a 1.34 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 17.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Utz Brands

Several hedge funds have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Utz Brands by 4.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,280 shares of the company’s stock worth $584,000 after buying an additional 1,596 shares during the period. Newton One Investments LLC acquired a new stake in Utz Brands during the 4th quarter worth approximately $26,000. Rhumbline Advisers raised its holdings in Utz Brands by 1.9% during the 4th quarter. Rhumbline Advisers now owns 95,103 shares of the company’s stock worth $1,489,000 after buying an additional 1,757 shares during the period. LPL Financial LLC raised its holdings in Utz Brands by 4.7% during the 4th quarter. LPL Financial LLC now owns 39,879 shares of the company’s stock worth $624,000 after buying an additional 1,789 shares during the period. Finally, M&T Bank Corp raised its holdings in Utz Brands by 18.9% during the 4th quarter. M&T Bank Corp now owns 12,678 shares of the company’s stock worth $198,000 after buying an additional 2,011 shares during the period. 95.97% of the stock is currently owned by institutional investors and hedge funds.

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.