Utz Brands (NYSE:UTZ) Issues Quarterly Earnings Results

Utz Brands (NYSE:UTZ) announced its quarterly earnings data on Wednesday. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.01, FiscalAI reports. The business had revenue of $371.80 million during the quarter, compared to the consensus estimate of $374.18 million. Utz Brands had a negative net margin of 0.58% and a positive return on equity of 8.61%. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.17 earnings per share.

Utz Brands Stock Down 0.0%

UTZ stock traded down $0.00 during trading on Wednesday, hitting $14.11. 963,552 shares of the company’s stock traded hands, compared to its average volume of 2,541,074. The firm has a market capitalization of $2.03 billion, a P/E ratio of -141.04 and a beta of 0.74. The business has a fifty day simple moving average of $8.89 and a two-hundred day simple moving average of $8.66. The company has a quick ratio of 0.75, a current ratio of 1.14 and a debt-to-equity ratio of 0.62. Utz Brands has a 1 year low of $6.78 and a 1 year high of $14.19.

Utz Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Monday, June 22nd were paid a dividend of $0.063 per share. The ex-dividend date was Monday, June 22nd. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.8%. Utz Brands’s dividend payout ratio (DPR) is currently -250.00%.

Analyst Ratings Changes

UTZ has been the topic of several research analyst reports. UBS Group reaffirmed a “neutral” rating and issued a $14.25 price objective on shares of Utz Brands in a research report on Wednesday, July 22nd. Zacks Research raised shares of Utz Brands from a “strong sell” rating to a “hold” rating in a research note on Monday, April 20th. Barclays lowered shares of Utz Brands from an “overweight” rating to an “equal weight” rating and set a $14.00 price objective for the company. in a report on Tuesday, July 21st. Weiss Ratings reissued a “sell (d)” rating on shares of Utz Brands in a research report on Wednesday, June 24th. Finally, TD Cowen dropped their target price on shares of Utz Brands from $11.00 to $9.00 and set a “hold” rating on the stock in a research note on Monday, April 20th. One investment analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $13.39.

Institutional Trading of Utz Brands

A number of hedge funds have recently bought and sold shares of the stock. MML Investors Services LLC lifted its stake in shares of Utz Brands by 13.0% during the 4th quarter. MML Investors Services LLC now owns 24,885 shares of the company’s stock worth $258,000 after purchasing an additional 2,866 shares during the last quarter. Lazard Asset Management LLC purchased a new position in Utz Brands in the fourth quarter valued at about $254,000. Prelude Capital Management LLC bought a new position in Utz Brands in the third quarter worth about $200,000. M&T Bank Corp raised its holdings in Utz Brands by 38.6% in the second quarter. M&T Bank Corp now owns 14,827 shares of the company’s stock worth $186,000 after purchasing an additional 4,129 shares in the last quarter. Finally, Teza Capital Management LLC purchased a new stake in shares of Utz Brands during the second quarter valued at about $178,000. Hedge funds and other institutional investors own 95.97% of the company’s stock.

Utz Brands Company Profile

Utz Brands, Inc is a leading U.S. manufacturer and distributor of salty snack foods, offering a wide range of products including potato chips, pretzels, cheese snacks, popcorn and tortilla chips. Headquartered in Hanover, Pennsylvania, the company markets its snacks under several well-known brands and serves grocery, mass merchandise, club, convenience and online retailers throughout the United States.

Founded in 1921 by Bill and Salie Utz as a small country store operation, the business expanded gradually through direct delivery to local customers and sales to regional grocers.