Utz Brands (NYSE:UTZ) updated its FY 2021 earnings guidance on Wednesday. The company provided earnings per share guidance of $0.550-$0.600 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.590. The company issued revenue guidance of $1.16 billion-$1.16 billion, compared to the consensus revenue estimate of $1.17 billion.
Several equities research analysts have recently commented on UTZ shares. The Goldman Sachs Group reduced their target price on shares of Utz Brands from $25.00 to $20.50 and set a neutral rating on the stock in a research note on Tuesday, August 24th. Citigroup lifted their price target on Utz Brands from $19.00 to $21.00 and gave the company a buy rating in a report on Friday, November 19th. Zacks Investment Research cut Utz Brands from a hold rating to a sell rating in a report on Tuesday, November 9th. Oppenheimer dropped their price objective on Utz Brands from $23.00 to $20.00 and set an outperform rating for the company in a report on Tuesday, November 16th. Finally, Stephens dropped their price objective on Utz Brands from $27.00 to $23.00 and set an overweight rating for the company in a report on Friday, August 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Utz Brands currently has a consensus rating of Buy and a consensus price target of $24.63.
Shares of UTZ traded up $0.12 on Thursday, hitting $15.89. The company’s stock had a trading volume of 326,465 shares, compared to its average volume of 686,428. The company has a quick ratio of 1.26, a current ratio of 1.71 and a debt-to-equity ratio of 0.55. The firm’s fifty day moving average price is $16.40 and its 200-day moving average price is $20.02. Utz Brands has a fifty-two week low of $15.05 and a fifty-two week high of $30.09. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of 88.28 and a beta of 0.61.
The company also recently declared a quarterly dividend, which was paid on Monday, October 11th. Shareholders of record on Monday, September 20th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend was Friday, September 17th. Utz Brands’s dividend payout ratio (DPR) is currently 111.11%.
In related news, major shareholder Chinh Chu sold 56,250 shares of the stock in a transaction on Tuesday, November 16th. The stock was sold at an average price of $16.36, for a total value of $920,250.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Cc Collier Holdings, Llc sold 106,417 shares of the stock in a transaction on Friday, October 1st. The stock was sold at an average price of $16.67, for a total value of $1,773,971.39. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 459,253 shares of company stock valued at $7,506,523. Insiders own 17.32% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. boosted its stake in Utz Brands by 21.1% in the third quarter. Invesco Ltd. now owns 28,731 shares of the company’s stock valued at $492,000 after buying an additional 5,007 shares in the last quarter. Royal Bank of Canada boosted its stake in Utz Brands by 58.7% in the third quarter. Royal Bank of Canada now owns 25,587 shares of the company’s stock valued at $439,000 after buying an additional 9,468 shares in the last quarter. Millennium Management LLC boosted its stake in Utz Brands by 5.6% in the third quarter. Millennium Management LLC now owns 39,255 shares of the company’s stock valued at $672,000 after buying an additional 2,065 shares in the last quarter. LPL Financial LLC boosted its stake in Utz Brands by 3.8% in the third quarter. LPL Financial LLC now owns 30,633 shares of the company’s stock valued at $525,000 after buying an additional 1,129 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Utz Brands by 7.0% in the third quarter. Bank of New York Mellon Corp now owns 290,288 shares of the company’s stock valued at $4,973,000 after buying an additional 18,907 shares in the last quarter. 41.16% of the stock is currently owned by institutional investors.
Utz Brands Company Profile
UTZ Brands, Inc manufactures, markets, and distributes branded snacking products. It offers a broad range of salty snacks, including potato chips, pretzels, cheese snacks, veggie snacks, pork skins and other snacks. The firm’s brands include Utz, Zapp’s, Golden Flake, Good Health, Boulder Canyon and Hawaiian.
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