Utz Brands, Inc. (NYSE:UTZ) Receives $14.38 Average Price Target from Analysts

Utz Brands, Inc. (NYSE:UTZ) has received an average rating of “Hold” from the ten analysts that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $14.3750.

Several equities analysts have weighed in on UTZ shares. DA Davidson set a $15.00 target price on Utz Brands in a research note on Wednesday, January 14th. TD Cowen decreased their price target on shares of Utz Brands from $14.00 to $12.00 and set a “hold” rating for the company in a report on Friday, October 31st. Piper Sandler dropped their price objective on shares of Utz Brands from $15.00 to $13.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 13th. Bank of America cut their target price on shares of Utz Brands from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Tuesday, January 13th. Finally, UBS Group lowered their price target on shares of Utz Brands from $11.50 to $11.00 and set a “neutral” rating on the stock in a report on Wednesday, January 14th.

Insider Buying and Selling at Utz Brands

In related news, Director Dylan Lissette bought 7,901 shares of Utz Brands stock in a transaction that occurred on Friday, November 7th. The stock was purchased at an average cost of $9.99 per share, for a total transaction of $78,930.99. Following the acquisition, the director owned 153,684 shares in the company, valued at $1,535,303.16. This trade represents a 5.42% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Series R. Of Um Partners, Llc purchased 12,420 shares of the stock in a transaction on Friday, November 21st. The shares were bought at an average price of $9.60 per share, for a total transaction of $119,232.00. Following the acquisition, the insider owned 628,594 shares of the company’s stock, valued at approximately $6,034,502.40. The trade was a 2.02% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 36,921 shares of company stock worth $362,782 over the last three months. Company insiders own 16.32% of the company’s stock.

Institutional Trading of Utz Brands

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada increased its holdings in Utz Brands by 39.7% in the 1st quarter. Royal Bank of Canada now owns 248,912 shares of the company’s stock valued at $3,504,000 after buying an additional 70,739 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Utz Brands by 5.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,470 shares of the company’s stock valued at $556,000 after acquiring an additional 2,190 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Utz Brands by 40.8% in the first quarter. Goldman Sachs Group Inc. now owns 2,022,709 shares of the company’s stock valued at $28,480,000 after acquiring an additional 585,952 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Utz Brands by 36.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 196,013 shares of the company’s stock worth $2,760,000 after purchasing an additional 52,285 shares in the last quarter. Finally, Ballentine Partners LLC acquired a new position in Utz Brands in the second quarter worth about $169,000. 95.97% of the stock is currently owned by institutional investors and hedge funds.

Utz Brands Price Performance

Shares of Utz Brands stock opened at $10.68 on Thursday. Utz Brands has a 52 week low of $9.15 and a 52 week high of $14.67. The company has a current ratio of 1.22, a quick ratio of 0.80 and a debt-to-equity ratio of 0.62. The stock has a market cap of $1.53 billion, a PE ratio of 152.50, a price-to-earnings-growth ratio of 1.38 and a beta of 0.90. The company’s 50-day moving average price is $10.14 and its two-hundred day moving average price is $11.59.

Utz Brands Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 15th were given a $0.063 dividend. This is a positive change from Utz Brands’s previous quarterly dividend of $0.06. This represents a $0.25 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Monday, December 15th. Utz Brands’s payout ratio is presently 357.14%.

About Utz Brands

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.