Utz Brands (NYSE:UTZ) Given New $24.00 Price Target at Mizuho

Utz Brands (NYSE:UTZ) had its target price lifted by Mizuho from $22.00 to $24.00 in a research note released on Friday, Benzinga reports. They currently have a buy rating on the stock.

UTZ has been the topic of a number of other reports. Piper Sandler boosted their price target on shares of Utz Brands from $18.00 to $21.00 and gave the stock an overweight rating in a research note on Friday, March 1st. Needham & Company LLC increased their target price on Utz Brands from $20.50 to $22.00 and gave the stock a buy rating in a research note on Friday. Bank of America upgraded Utz Brands from a neutral rating to a buy rating and lifted their price target for the company from $19.00 to $22.00 in a research note on Thursday, March 14th. Truist Financial increased their price objective on Utz Brands from $13.00 to $17.00 and gave the stock a hold rating in a research report on Monday, March 4th. Finally, DA Davidson assumed coverage on shares of Utz Brands in a research report on Friday, March 1st. They set a neutral rating and a $20.00 target price on the stock. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $20.42.

Utz Brands Stock Up 0.1 %

Utz Brands stock opened at $19.26 on Friday. The stock has a market capitalization of $2.71 billion, a price-to-earnings ratio of -77.04, a PEG ratio of 1.32 and a beta of 0.97. The company has a current ratio of 1.40, a quick ratio of 0.95 and a debt-to-equity ratio of 0.54. The stock has a 50 day moving average of $18.02 and a two-hundred day moving average of $16.28. Utz Brands has a twelve month low of $11.17 and a twelve month high of $20.04.

Utz Brands (NYSE:UTZ) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.01. The firm had revenue of $346.50 million during the quarter, compared to the consensus estimate of $346.99 million. Utz Brands had a positive return on equity of 6.16% and a negative net margin of 1.38%. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period last year, the company earned $0.11 earnings per share. As a group, research analysts expect that Utz Brands will post 0.72 earnings per share for the current year.

Utz Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 2nd. Investors of record on Monday, April 15th were paid a $0.059 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.23%. This is a boost from Utz Brands’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Friday, April 12th. Utz Brands’s dividend payout ratio is presently -96.00%.

Insider Buying and Selling at Utz Brands

In other news, Director Roger K. Deromedi sold 66,027 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $19.45, for a total value of $1,284,225.15. Following the sale, the director now directly owns 2,315,693 shares in the company, valued at $45,040,228.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Roger K. Deromedi sold 32,052 shares of the business’s stock in a transaction dated 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 owns 3,516,652 shares of the company’s stock, valued at approximately $67,168,053.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Roger K. Deromedi sold 66,027 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $19.45, for a total transaction of $1,284,225.15. Following the completion of the transaction, the director now owns 2,315,693 shares in the company, valued at $45,040,228.85. The disclosure for this sale can be found here. In the last three months, insiders sold 675,208 shares of company stock worth $12,039,150. 17.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Utz Brands

A number of institutional investors have recently modified their holdings of UTZ. SRS Capital Advisors Inc. boosted its position in 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 acquiring an additional 1,891 shares during the last quarter. Delta Asset Management LLC TN lifted its stake in shares of Utz Brands by 100.0% during the 4th quarter. Delta Asset Management LLC TN now owns 5,000 shares of the company’s stock worth $81,000 after purchasing an additional 2,500 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of 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. Sherbrooke Park Advisers LLC purchased a new stake in shares of Utz Brands in the third quarter valued at $136,000. Finally, Parallel Advisors LLC increased its stake in 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 purchasing an additional 1,033 shares during the last quarter. Institutional investors and hedge funds own 95.97% of the company’s stock.

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.