Utz Brands (NYSE:UTZ) PT Raised to $23.00

Utz Brands (NYSE:UTZ) had its price objective upped by Stephens from $21.00 to $23.00 in a research report sent to investors on Friday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other analysts have also recently commented on UTZ. Needham & Company LLC boosted their target price on shares of Utz Brands from $20.50 to $22.00 and gave the stock a buy rating in a research note on Friday. Mizuho increased their target price on Utz Brands from $22.00 to $24.00 and gave the company a buy rating in a report on Friday. Truist Financial raised their target price on Utz Brands from $13.00 to $17.00 and gave the company a hold rating in a research report on Monday, March 4th. Bank of America raised Utz Brands from a neutral rating to a buy rating and increased their price objective for the company from $19.00 to $22.00 in a research note on Thursday, March 14th. Finally, Piper Sandler lifted their target price on shares of Utz Brands from $18.00 to $21.00 and gave the stock an overweight rating in a research note on Friday, March 1st. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $19.83.

Utz Brands Price Performance

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

Utz Brands (NYSE:UTZ) last announced its earnings results on Thursday, May 2nd. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. Utz Brands had a positive return on equity of 6.13% and a negative net margin of 1.38%. The firm had revenue of $346.50 million for the quarter, compared to analyst estimates of $346.99 million. During the same quarter last year, the firm posted $0.11 EPS. The business’s revenue was down 1.4% on a year-over-year basis. Sell-side analysts predict that Utz Brands will post 0.72 earnings per share for the current fiscal year.

Utz Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 2nd. Investors of record on Monday, April 15th were issued 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 dividend yield of 1.23%. This is a positive change from Utz Brands’s previous quarterly dividend of $0.06. Utz Brands’s dividend payout ratio is currently -92.00%.

Insiders Place Their Bets

In other news, major shareholder Series U. Of Um Partners, Llc sold 446,250 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were 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 owns 397,885 shares of the company’s stock, valued at approximately $6,923,199. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, major shareholder Series U. Of Um Partners, Llc sold 446,250 shares of the company’s stock in a transaction on 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 transaction, the insider now owns 397,885 shares of the company’s stock, valued at approximately $6,923,199. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Roger K. Deromedi sold 3,785 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were 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 owns 3,399,470 shares in the company, valued at $65,031,861.10. The disclosure for this sale can be found here. Insiders have sold 609,181 shares of company stock valued at $10,754,925 over the last ninety days. Company insiders own 17.00% of the company’s stock.

Hedge Funds Weigh In On Utz Brands

Large investors have recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. purchased a new stake 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% in the third quarter. Raymond James & Associates now owns 17,835 shares of the company’s stock valued at $240,000 after buying an additional 3,833 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Utz Brands by 3.9% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 51,183 shares of the company’s stock valued at $687,000 after buying an additional 1,918 shares during the period. Simon Quick Advisors LLC purchased a new stake in shares of Utz Brands in the 3rd quarter valued at $209,000. Finally, Bank of New York Mellon Corp lifted its stake in 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 acquiring an additional 3,315 shares in the last quarter. 95.97% of the stock is currently owned by institutional investors and hedge funds.

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.