Utz Brands (NYSE:UTZ) Announces Quarterly Earnings Results

Utz Brands (NYSE:UTZ) issued its quarterly earnings data on Thursday. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01, Briefing.com reports. 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 period in the prior year, the firm posted $0.11 EPS. The company’s revenue for the quarter was down 1.4% on a year-over-year basis.

Utz Brands Stock Performance

Shares of UTZ opened at $19.24 on Friday. 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 firm’s fifty day simple moving average is $18.01 and its two-hundred day simple moving average is $16.16. Utz Brands has a 12 month low of $11.17 and a 12 month high of $20.04. The stock has a market capitalization of $2.71 billion, a P/E ratio of -76.96, a price-to-earnings-growth ratio of 1.70 and a beta of 0.97.

Utz Brands Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 2nd. Investors of record on Monday, April 15th were paid a dividend of $0.059 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend was Friday, April 12th. This is an increase from Utz Brands’s previous quarterly dividend of $0.06. 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 business’s stock in a transaction that occurred 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 directly owns 397,885 shares of the company’s stock, valued at $6,923,199. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Roger K. Deromedi sold 3,785 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $19.13, for a total value of $72,407.05. Following the completion of the sale, the director now directly owns 3,399,470 shares in the company, valued at approximately $65,031,861.10. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Series U. Of Um Partners, Llc sold 446,250 shares of the company’s stock in a transaction that occurred 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 directly owns 397,885 shares in the company, valued at $6,923,199. 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.

Analyst Ratings Changes

UTZ has been the subject of several analyst reports. Bank of America upgraded shares of Utz Brands from a “neutral” rating to a “buy” rating and boosted their target price for the company from $19.00 to $22.00 in a research report on Thursday, March 14th. DA Davidson started coverage on shares of Utz Brands in a report on Friday, March 1st. They issued a “neutral” rating and a $20.00 target price for the company. Needham & Company LLC lifted their price target on shares of Utz Brands from $20.50 to $22.00 and gave the company a “buy” rating in a report on Friday. Piper Sandler upped their price target on shares of Utz Brands from $18.00 to $21.00 and gave the stock an “overweight” rating in a report on Friday, March 1st. Finally, Truist Financial raised their price objective on Utz Brands from $13.00 to $17.00 and gave the company a “hold” rating in a report on Monday, March 4th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $19.83.

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.