Brokerages Set Utz Brands, Inc. (NYSE:UTZ) Target Price at $18.63

Utz Brands, Inc. (NYSE:UTZ) has earned a consensus rating of “Moderate Buy” from the twelve brokerages that are currently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $18.63.

Several brokerages recently commented on UTZ. Mizuho boosted their target price on Utz Brands from $19.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Bank of America raised Utz Brands from a “neutral” rating to a “buy” rating and upped their price target for the company from $19.00 to $22.00 in a report on Thursday, March 14th. Truist Financial upped their price target on Utz Brands from $13.00 to $17.00 and gave the company a “hold” rating in a report on Monday, March 4th. Needham & Company LLC boosted their target price on shares of Utz Brands from $20.00 to $20.50 and gave the company a “buy” rating in a research note on Friday, March 1st. Finally, Piper Sandler boosted their target price on shares of Utz Brands from $18.00 to $21.00 and gave the company an “overweight” rating in a research note on Friday, March 1st.

Utz Brands Stock Performance

Shares of NYSE UTZ opened at $18.27 on Friday. The company has a current ratio of 1.42, a quick ratio of 0.97 and a debt-to-equity ratio of 0.65. The stock has a 50 day simple moving average of $18.06 and a 200-day simple moving average of $15.85. The company has a market cap of $2.57 billion, a PE ratio of -58.93, a P/E/G ratio of 1.56 and a beta of 0.97. Utz Brands has a 12-month low of $11.17 and a 12-month high of $19.21.

Utz Brands (NYSE:UTZ) last issued its quarterly earnings data on Thursday, February 29th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.01). The business had revenue of $352.10 million for the quarter, compared to analyst estimates of $354.63 million. Utz Brands had a positive return on equity of 6.08% and a negative net margin of 1.73%. The business’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.15 earnings per share. On average, equities research analysts forecast that Utz Brands will post 0.68 EPS for the current year.

Utz Brands Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 2nd. Investors of record on Monday, April 15th will be issued a $0.059 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.29%. This is a positive change from Utz Brands’s previous quarterly dividend of $0.06. Utz Brands’s dividend payout ratio (DPR) is currently -77.42%.

Insider Activity at Utz Brands

In related news, major shareholder Chinh Chu sold 92,226 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $17.80, for a total value of $1,641,622.80. Following the completion of the sale, the insider now owns 3,556,154 shares of the company’s stock, valued at $63,299,541.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Utz Brands news, major shareholder Series U. Of Um Partners, Llc sold 446,250 shares of Utz Brands stock in a transaction on Monday, March 4th. The shares were sold at an average price of $17.40, for a total transaction of $7,764,750.00. Following the completion of the sale, the insider now owns 397,885 shares of the company’s stock, valued at approximately $6,923,199. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Chinh Chu sold 92,226 shares of Utz Brands stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $17.80, for a total transaction of $1,641,622.80. Following the sale, the insider now directly owns 3,556,154 shares of the company’s stock, valued at approximately $63,299,541.20. The disclosure for this sale can be found here. Insiders sold a total of 609,181 shares of company stock valued at $10,754,925 over the last quarter. Corporate insiders own 17.00% of the company’s stock.

Institutional Trading of Utz Brands

A number of institutional investors have recently bought and sold shares of the business. Pathstone Family Office LLC grew its holdings in Utz Brands by 0.3% during the 3rd quarter. Pathstone Family Office LLC now owns 300,466 shares of the company’s stock worth $4,035,000 after acquiring an additional 888 shares during the period. Outfitter Financial LLC boosted its position in shares of Utz Brands by 2.1% during the third quarter. Outfitter Financial LLC now owns 49,245 shares of the company’s stock worth $661,000 after purchasing an additional 1,000 shares in 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 purchasing an additional 1,033 shares in the last quarter. First Bank & Trust boosted its position in shares of Utz Brands by 8.7% during the fourth quarter. First Bank & Trust now owns 13,536 shares of the company’s stock worth $220,000 after purchasing an additional 1,083 shares in the last quarter. Finally, Personal CFO Solutions LLC boosted its position in shares of Utz Brands by 6.7% during the third quarter. Personal CFO Solutions LLC now owns 18,908 shares of the company’s stock worth $254,000 after purchasing an additional 1,187 shares in the last quarter. Institutional investors and hedge funds 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.