Utz Brands (NYSE:UTZ) Stock Price Down 4%

Shares of Utz Brands, Inc. (NYSE:UTZ) dropped 4% on Monday . The company traded as low as $17.79 and last traded at $17.86. Approximately 195,235 shares were traded during trading, a decline of 75% from the average daily volume of 773,991 shares. The stock had previously closed at $18.61.

Wall Street Analyst Weigh In

UTZ has been the topic of a number of research reports. Needham & Company LLC boosted their price objective on Utz Brands from $20.00 to $20.50 and gave the stock a “buy” rating in a research report on Friday, March 1st. Mizuho lifted their target price on Utz Brands from $19.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. DA Davidson started coverage on Utz Brands in a report on Friday, March 1st. They set a “neutral” rating and a $20.00 target price on the stock. Bank of America raised Utz Brands from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $19.00 to $22.00 in a report on Thursday, March 14th. Finally, Truist Financial lifted their target price on Utz Brands from $13.00 to $17.00 and gave the stock a “hold” rating in a report on Monday, March 4th. Three research 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, Utz Brands currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.63.

Utz Brands Price Performance

The business has a 50-day moving average of $18.05 and a 200 day moving average of $15.98. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.42 and a quick ratio of 0.97.

Utz Brands (NYSE:UTZ) last issued its earnings results on Thursday, February 29th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). Utz Brands had a negative net margin of 1.73% and a positive return on equity of 6.08%. The firm had revenue of $352.10 million during the quarter, compared to the consensus estimate of $354.63 million. During the same period in the previous year, the firm earned $0.15 earnings per share. The business’s quarterly revenue was down .7% on a year-over-year basis. Analysts expect that Utz Brands, Inc. will post 0.68 EPS for the current fiscal year.

Utz Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 2nd. Shareholders of record on Monday, April 15th will be issued a dividend of $0.059 per share. This is a positive change from Utz Brands’s previous quarterly dividend of $0.06. This represents a $0.24 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date is Friday, April 12th. Utz Brands’s payout ratio is currently -77.42%.

Insiders Place Their Bets

In other Utz Brands news, Director Roger K. Deromedi sold 3,785 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was 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 directly owns 3,399,470 shares of the company’s stock, valued at approximately $65,031,861.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Utz Brands news, Director Roger K. Deromedi sold 3,785 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was 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 directly owns 3,399,470 shares of the company’s stock, valued at approximately $65,031,861.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Roger K. Deromedi sold 32,052 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $19.10, for a total value of $612,193.20. Following the completion of the transaction, the director now directly owns 3,516,652 shares of the company’s stock, valued at $67,168,053.20. 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. Corporate insiders own 17.00% of the company’s stock.

Hedge Funds Weigh In On Utz Brands

Institutional investors have recently modified their holdings of the business. SRS Capital Advisors Inc. grew its holdings in shares of Utz Brands by 120.2% in the fourth quarter. SRS Capital Advisors Inc. now owns 3,464 shares of the company’s stock valued at $56,000 after acquiring an additional 1,891 shares in the last quarter. Delta Asset Management LLC TN grew its holdings in shares of Utz Brands by 100.0% in the fourth quarter. Delta Asset Management LLC TN now owns 5,000 shares of the company’s stock valued at $81,000 after acquiring an additional 2,500 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of Utz Brands by 1,428.8% in the fourth quarter. International Assets Investment Management LLC now owns 5,473 shares of the company’s stock valued at $89,000 after acquiring an additional 5,115 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Utz Brands by 11.6% in the fourth quarter. Parallel Advisors LLC now owns 9,924 shares of the company’s stock valued at $161,000 after acquiring an additional 1,033 shares in the last quarter. Finally, Sherbrooke Park Advisers LLC bought a new position in shares of Utz Brands in the third quarter valued at approximately $136,000. 95.97% of the stock is owned by institutional investors.

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.