Barclays Boosts Utz Brands (NYSE:UTZ) Price Target to $23.00

Utz Brands (NYSE:UTZ) had its target price increased by Barclays from $20.00 to $23.00 in a research report report published on Monday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

UTZ has been the subject of several other reports. Bank of America raised shares of Utz Brands from a neutral rating to a buy rating and boosted their price objective for the company from $19.00 to $22.00 in a report on Thursday, March 14th. Mizuho boosted their price objective on shares of Utz Brands from $22.00 to $24.00 and gave the company a buy rating in a report on Friday, May 3rd. Stephens boosted their price objective on shares of Utz Brands from $21.00 to $23.00 and gave the company an overweight rating in a report on Friday, May 3rd. Truist Financial boosted their price objective on shares of Utz Brands from $13.00 to $17.00 and gave the company a hold rating in a report on Monday, March 4th. Finally, DA Davidson assumed coverage on shares of Utz Brands in a report on Friday, March 1st. They set a neutral rating and a $20.00 price objective for the company. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $20.42.

Utz Brands Trading Down 2.2 %

Shares of NYSE UTZ opened at $18.55 on Monday. The firm’s 50 day moving average price is $18.03 and its 200-day moving average price is $16.33. The company has a market cap of $2.61 billion, a PE ratio of -74.18, a P/E/G ratio of 1.32 and a beta of 0.97. Utz Brands has a 52-week low of $11.17 and a 52-week high of $20.04. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.95 and a current ratio of 1.40.

Utz Brands (NYSE:UTZ) last issued its earnings results on Thursday, May 2nd. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.01. The firm had revenue of $346.50 million for the quarter, compared to the consensus estimate of $346.99 million. Utz Brands had a negative net margin of 1.38% and a positive return on equity of 6.16%. The business’s revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.11 earnings per share. On average, equities research analysts expect that Utz Brands will post 0.72 EPS for the current fiscal year.

Utz Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 2nd. Stockholders of record on Monday, April 15th were paid a $0.059 dividend. The ex-dividend date was Friday, April 12th. This is a boost from Utz Brands’s previous quarterly dividend of $0.06. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.27%. Utz Brands’s dividend payout ratio is -96.00%.

Insider Transactions at Utz Brands

In other news, Director Roger K. Deromedi sold 3,785 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $19.13, for a total value of $72,407.05. Following the completion of the sale, the director now directly owns 3,399,470 shares of the company’s stock, valued at $65,031,861.10. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, major shareholder Series U. Of Um Partners, Llc sold 397,885 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $18.76, for a total value of $7,464,322.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Roger K. Deromedi sold 3,785 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $19.13, for a total transaction of $72,407.05. Following the completion of the sale, the director now directly owns 3,399,470 shares of the company’s stock, valued at $65,031,861.10. The disclosure for this sale can be found here. Insiders sold a total of 1,103,199 shares of company stock valued at $20,086,036 over the last three months. Corporate insiders own 17.00% of the company’s stock.

Hedge Funds Weigh In On Utz Brands

Hedge funds and other institutional investors have recently modified their holdings of the stock. SRS Capital Advisors Inc. boosted its position in shares of Utz Brands by 120.2% during the fourth quarter. SRS Capital Advisors Inc. now owns 3,464 shares of the company’s stock worth $56,000 after acquiring an additional 1,891 shares during the last quarter. Delta Asset Management LLC TN boosted its position in shares of Utz Brands by 100.0% during the fourth quarter. Delta Asset Management LLC TN now owns 5,000 shares of the company’s stock worth $81,000 after acquiring an additional 2,500 shares during the last quarter. International Assets Investment Management LLC boosted its position in shares of Utz Brands by 1,428.8% during the fourth quarter. International Assets Investment Management LLC now owns 5,473 shares of the company’s stock worth $89,000 after acquiring an additional 5,115 shares during the last quarter. Parallel Advisors LLC boosted its position in shares of Utz Brands by 11.6% during the fourth quarter. Parallel Advisors LLC now owns 9,924 shares of the company’s stock worth $161,000 after acquiring an additional 1,033 shares during the last quarter. Finally, Sherbrooke Park Advisers LLC bought a new position in shares of Utz Brands during the third quarter worth $136,000. Institutional investors own 95.97% of the company’s stock.

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.