Utz Brands (NYSE:UTZ) Price Target Raised to $22.00

Utz Brands (NYSE:UTZ) had its price target hoisted by Needham & Company LLC from $20.50 to $22.00 in a research note published on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts have also issued reports on UTZ. Bank of America raised shares of Utz Brands from a neutral rating to a buy rating and boosted their price target for the company from $19.00 to $22.00 in a report on Thursday, March 14th. DA Davidson initiated coverage on shares of Utz Brands in a research note on Friday, March 1st. They set a neutral rating and a $20.00 price target for the company. Truist Financial upped their price objective on Utz Brands from $13.00 to $17.00 and gave the company a hold rating in a research note on Monday, March 4th. Mizuho raised their target price on Utz Brands from $19.00 to $22.00 and gave the stock a buy rating in a research report on Wednesday, April 3rd. Finally, Piper Sandler boosted their price target on Utz Brands from $18.00 to $21.00 and gave the company an overweight rating in a research note on Friday, March 1st. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Utz Brands currently has a consensus rating of Moderate Buy and a consensus target price of $19.83.

Utz Brands Stock Down 1.6 %

NYSE UTZ opened at $19.24 on Friday. Utz Brands has a twelve month low of $11.17 and a twelve month high of $20.04. The stock has a market cap of $2.71 billion, a PE ratio of -76.96, a PEG ratio of 1.70 and a beta of 0.97. The firm has a 50-day simple moving average of $18.01 and a 200 day simple moving average of $16.22. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.97 and a current ratio of 1.42.

Utz Brands (NYSE:UTZ) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. The company had revenue of $346.50 million during the quarter, compared to the consensus estimate of $346.99 million. Utz Brands had a positive return on equity of 6.13% and a negative net margin of 1.38%. The company’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter last year, the company earned $0.11 EPS. On average, research analysts forecast that Utz Brands will post 0.72 EPS for the current year.

Utz Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 2nd. Shareholders of record on Monday, April 15th were paid a $0.059 dividend. The ex-dividend date of this dividend was Friday, April 12th. This represents a $0.24 dividend on an annualized basis and a yield of 1.23%. This is a positive change from Utz Brands’s previous quarterly dividend of $0.06. Utz Brands’s payout ratio is currently -92.00%.

Insider Activity

In other Utz Brands news, Director Roger K. Deromedi sold 13,446 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $19.03, for a total transaction of $255,877.38. Following the sale, the director now owns 3,548,704 shares of the company’s stock, valued at approximately $67,531,837.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, major shareholder Series U. Of Um Partners, Llc sold 446,250 shares of Utz Brands stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $17.40, for a total value of $7,764,750.00. Following the completion of the sale, the insider now directly owns 397,885 shares in the company, valued at $6,923,199. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Roger K. Deromedi sold 13,446 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $19.03, for a total value of $255,877.38. Following the sale, the director now directly owns 3,548,704 shares of the company’s stock, valued at $67,531,837.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 609,181 shares of company stock worth $10,754,925. 17.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Utz Brands

Several institutional investors have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. bought a new position in Utz Brands in the third quarter valued at approximately $268,000. Raymond James & Associates grew its stake in shares of Utz Brands by 27.4% during the third quarter. Raymond James & Associates now owns 17,835 shares of the company’s stock worth $240,000 after purchasing an additional 3,833 shares during the period. Raymond James Financial Services Advisors Inc. increased its holdings in Utz Brands by 3.9% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 51,183 shares of the company’s stock valued at $687,000 after purchasing an additional 1,918 shares during the last quarter. Simon Quick Advisors LLC acquired a new position in Utz Brands in the third quarter valued at about $209,000. Finally, Bank of New York Mellon Corp grew its position in shares of Utz Brands by 0.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 389,397 shares of the company’s stock worth $5,230,000 after buying an additional 3,315 shares during the period. Institutional investors and hedge funds own 95.97% of the company’s stock.

About Utz Brands

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.