Utz Brands (NYSE:UTZ) Trading 7.5% Higher Following Strong Earnings

Utz Brands, Inc. (NYSE:UTZ) traded up 7.5% during trading on Thursday following a stronger than expected earnings report. The stock traded as high as $14.37 and last traded at $14.48. 287,152 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 1,111,555 shares. The stock had previously closed at $13.47.

The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.03. Utz Brands had a positive return on equity of 7.25% and a negative net margin of 0.99%. During the same quarter last year, the company posted $0.16 earnings per share.

Utz Brands Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th were paid a dividend of $0.061 per share. The ex-dividend date was Monday, December 16th. This represents a $0.24 annualized dividend and a yield of 1.69%. This is an increase from Utz Brands’s previous quarterly dividend of $0.06. Utz Brands’s payout ratio is presently -126.32%.

Analyst Upgrades and Downgrades

UTZ has been the topic of several recent analyst reports. Barclays cut their target price on Utz Brands from $19.00 to $17.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. TD Cowen dropped their price objective on Utz Brands from $21.00 to $17.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Mizuho dropped their price objective on Utz Brands from $21.00 to $19.00 and set an “outperform” rating on the stock in a research note on Monday, February 10th. Finally, Piper Sandler cut their target price on Utz Brands from $24.00 to $20.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Utz Brands has an average rating of “Moderate Buy” and a consensus target price of $20.00.

Hedge Funds Weigh In On Utz Brands

Large investors have recently made changes to their positions in the business. Newton One Investments LLC acquired a new position in shares of Utz Brands during the 4th quarter worth about $26,000. Venturi Wealth Management LLC acquired a new position in Utz Brands in the 4th quarter valued at approximately $54,000. Tower Research Capital LLC TRC raised its holdings in Utz Brands by 112.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,697 shares of the company’s stock valued at $121,000 after acquiring an additional 4,078 shares in the last quarter. Moody National Bank Trust Division acquired a new position in Utz Brands in the 4th quarter valued at approximately $169,000. Finally, Freestone Grove Partners LP acquired a new position in Utz Brands in the 4th quarter valued at approximately $183,000. Institutional investors and hedge funds own 95.97% of the company’s stock.

Utz Brands Stock Performance

The company has a market capitalization of $2.03 billion, a P/E ratio of -76.21, a price-to-earnings-growth ratio of 0.85 and a beta of 1.01. The firm has a 50 day moving average price of $14.49 and a two-hundred day moving average price of $16.23. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.85 and a current ratio of 1.21.

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.