Utz Brands (NYSE:UTZ) PT 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 report report published on Friday, Benzinga reports. They currently have a buy rating on the stock.

Other analysts also recently issued research reports about the stock. Truist Financial lifted their target price on shares of Utz Brands from $13.00 to $17.00 and gave the company a hold rating in a report on Monday, March 4th. Piper Sandler boosted their price objective on Utz Brands from $18.00 to $21.00 and gave the company an overweight rating in a report on Friday, March 1st. Mizuho raised their target price on Utz Brands from $19.00 to $22.00 and gave the company a buy rating in a report on Wednesday, April 3rd. DA Davidson began 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 on the stock. Finally, Bank of America upgraded shares of Utz Brands from a neutral rating to a buy rating and lifted their price objective for the company from $19.00 to $22.00 in a report on Thursday, March 14th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $19.83.

Utz Brands Trading Down 1.6 %

UTZ stock traded down $0.31 during midday trading on Friday, hitting $19.24. 1,167,470 shares of the company’s stock were exchanged, compared to its average volume of 745,232. Utz Brands has a 1-year low of $11.17 and a 1-year high of $20.04. The company has a current ratio of 1.42, a quick ratio of 0.97 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $2.71 billion, a PE ratio of -76.96, a P/E/G ratio of 1.72 and a beta of 0.97. The business has a 50-day simple moving average of $18.01 and a two-hundred day simple moving average of $16.16.

Utz Brands (NYSE:UTZ) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $0.14 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $346.99 million. During the same period last year, the company earned $0.11 EPS. The company’s quarterly revenue was down 1.4% on a year-over-year basis. On average, sell-side analysts predict that Utz Brands will post 0.69 EPS for the current fiscal year.

Utz Brands Increases Dividend

The firm also recently declared 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 was Friday, April 12th. This is a boost from Utz Brands’s previous quarterly dividend of $0.06. This represents a $0.24 dividend on an annualized basis and a yield of 1.23%. Utz Brands’s dividend payout ratio (DPR) is currently -96.00%.

Insider Transactions at Utz Brands

In other Utz Brands 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 transaction, the insider now directly owns 397,885 shares in the company, valued at $6,923,199. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Utz Brands 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 shares were sold at an average price of $17.40, for a total value of $7,764,750.00. Following the completion of the transaction, the insider now owns 397,885 shares in the company, valued at $6,923,199. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Chinh Chu sold 92,226 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $17.80, for a total value of $1,641,622.80. Following the transaction, the insider now directly owns 3,556,154 shares in the company, valued at approximately $63,299,541.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 609,181 shares of company stock valued at $10,754,925. 17.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. SRS Capital Advisors Inc. grew its holdings in shares of Utz Brands by 120.2% during the fourth quarter. SRS Capital Advisors Inc. now owns 3,464 shares of the company’s stock worth $56,000 after buying an additional 1,891 shares during the last quarter. Delta Asset Management LLC TN increased its stake in Utz Brands by 100.0% in the 4th quarter. Delta Asset Management LLC TN now owns 5,000 shares of the company’s stock valued at $81,000 after purchasing an additional 2,500 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Utz Brands by 1,428.8% during the fourth quarter. International Assets Investment Management LLC now owns 5,473 shares of the company’s stock worth $89,000 after purchasing an additional 5,115 shares during the last quarter. Parallel Advisors LLC boosted its position in Utz Brands by 11.6% during the fourth quarter. Parallel Advisors LLC now owns 9,924 shares of the company’s stock worth $161,000 after purchasing an additional 1,033 shares in the last quarter. Finally, Sherbrooke Park Advisers LLC acquired a new stake in Utz Brands in the third quarter valued at $136,000. 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.