Bank of America Cuts Utz Brands (NYSE:UTZ) Price Target to $14.00

Utz Brands (NYSE:UTZ) had its price objective decreased by Bank of America from $15.00 to $14.00 in a research report released on Tuesday,Benzinga reports. Bank of America currently has a buy rating on the stock.

A number of other equities research analysts also recently issued reports on the company. Piper Sandler decreased their price objective on Utz Brands from $19.00 to $15.00 and set an “overweight” rating on the stock in a research report on Friday, November 21st. Barclays reissued an “overweight” rating and issued a $14.00 price objective on shares of Utz Brands in a research report on Friday, October 31st. Mizuho set a $16.00 price target on Utz Brands in a research report on Monday, November 3rd. TD Cowen dropped their price objective on shares of Utz Brands from $14.00 to $12.00 and set a “hold” rating on the stock in a research note on Friday, October 31st. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Utz Brands in a report on Monday, December 29th. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.38.

Utz Brands Stock Down 0.2%

Shares of Utz Brands stock opened at $10.41 on Tuesday. The company’s 50 day moving average is $10.03 and its 200 day moving average is $11.86. The company has a market cap of $1.49 billion, a price-to-earnings ratio of 148.64, a price-to-earnings-growth ratio of 1.37 and a beta of 0.90. The company has a quick ratio of 0.80, a current ratio of 1.22 and a debt-to-equity ratio of 0.62. Utz Brands has a twelve month low of $9.15 and a twelve month high of $14.67.

Utz Brands (NYSE:UTZ) last announced its earnings results on Thursday, October 30th. The company reported $0.23 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.23. Utz Brands had a net margin of 0.39% and a return on equity of 8.12%. The company had revenue of $377.80 million during the quarter, compared to analyst estimates of $374.25 million. During the same period in the previous year, the business posted $0.21 earnings per share. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. Utz Brands has set its FY 2025 guidance at 0.824-0.847 EPS. Research analysts anticipate that Utz Brands will post 0.85 EPS for the current year.

Utz Brands Increases Dividend

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

Insider Buying and Selling at Utz Brands

In other news, CEO Howard A. Friedman acquired 7,200 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were bought at an average cost of $10.58 per share, with a total value of $76,176.00. Following the transaction, the chief executive officer owned 66,298 shares in the company, valued at approximately $701,432.84. This trade represents a 12.18% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Series R. Of Um Partners, Llc acquired 15,000 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were purchased at an average cost of $10.48 per share, for a total transaction of $157,200.00. Following the acquisition, the insider owned 615,000 shares of the company’s stock, valued at approximately $6,445,200. The trade was a 2.50% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 92,313 shares of company stock worth $947,055 in the last ninety days. 16.32% of the stock is owned by insiders.

Institutional Trading of Utz Brands

Hedge funds and other institutional investors have recently bought and sold shares of the company. NewEdge Advisors LLC acquired a new position in shares of Utz Brands in the 2nd quarter worth approximately $25,000. Aster Capital Management DIFC Ltd grew its stake in Utz Brands by 194.8% in the third quarter. Aster Capital Management DIFC Ltd now owns 2,618 shares of the company’s stock valued at $32,000 after acquiring an additional 1,730 shares during the period. Osaic Holdings Inc. lifted its holdings in shares of Utz Brands by 76.1% in the second quarter. Osaic Holdings Inc. now owns 3,756 shares of the company’s stock valued at $47,000 after purchasing an additional 1,623 shares in the last quarter. Harbor Investment Advisory LLC increased its stake in Utz Brands by 37.6% in the 2nd quarter. Harbor Investment Advisory LLC now owns 5,481 shares of the company’s stock valued at $69,000 after buying an additional 1,497 shares during the last quarter. Finally, Ameritas Investment Partners Inc. boosted its holdings in shares of Utz Brands by 16.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,394 shares of the company’s stock valued at $93,000 after buying an additional 1,023 shares during the last quarter. 95.97% of the stock is owned by institutional investors.

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.