Utz Brands (NYSE:UTZ) Trading Up 3.9%

Utz Brands, Inc. (NYSE:UTZGet Rating)’s stock price was up 3.9% on Wednesday . The stock traded as high as $16.10 and last traded at $16.06. Approximately 17,290 shares were traded during trading, a decline of 96% from the average daily volume of 445,323 shares. The stock had previously closed at $15.46.

Analysts Set New Price Targets

Several equities analysts have weighed in on UTZ shares. The Goldman Sachs Group cut Utz Brands from a “buy” rating to a “neutral” rating and lifted their target price for the company from $16.00 to $21.00 in a research note on Friday, August 12th. Credit Suisse Group lifted their target price on Utz Brands to $19.00 in a research note on Monday, August 15th. Finally, Stephens lifted their target price on Utz Brands from $16.00 to $19.00 and gave the company an “equal weight” rating in a research note on Friday, August 12th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $19.83.

Utz Brands Trading Up 0.3 %

The firm has a market cap of $2.20 billion, a P/E ratio of 130.92, a PEG ratio of 3.46 and a beta of 0.70. The company has a 50 day moving average of $16.58 and a 200 day moving average of $15.00. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.58.

Utz Brands (NYSE:UTZGet Rating) last announced its quarterly earnings results on Thursday, August 11th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.12 by $0.01. Utz Brands had a return on equity of 5.19% and a net margin of 0.85%. The business had revenue of $350.10 million during the quarter, compared to analysts’ expectations of $335.39 million. During the same quarter in the previous year, the business posted $0.13 EPS. The firm’s quarterly revenue was up 17.0% compared to the same quarter last year. Analysts predict that Utz Brands, Inc. will post 0.49 EPS for the current fiscal year.

Utz Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 6th. Investors of record on Monday, September 19th will be issued a $0.054 dividend. The ex-dividend date is Friday, September 16th. This represents a $0.22 annualized dividend and a yield of 1.37%. Utz Brands’s dividend payout ratio (DPR) is currently 183.33%.

Insider Buying and Selling

In related news, Director Roger K. Deromedi sold 15,678 shares of the business’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $19.64, for a total value of $307,915.92. Following the completion of the sale, the director now directly owns 3,277,988 shares in the company, valued at approximately $64,379,684.32. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 17.32% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of UTZ. Teacher Retirement System of Texas acquired a new position in shares of Utz Brands during the fourth quarter worth approximately $189,000. Renaissance Technologies LLC lifted its holdings in shares of Utz Brands by 206.7% during the fourth quarter. Renaissance Technologies LLC now owns 228,500 shares of the company’s stock worth $3,645,000 after buying an additional 154,000 shares during the last quarter. Alberta Investment Management Corp acquired a new position in shares of Utz Brands during the fourth quarter worth approximately $770,000. GSA Capital Partners LLP acquired a new position in shares of Utz Brands during the fourth quarter worth approximately $380,000. Finally, Summit Global Investments acquired a new position in shares of Utz Brands in the fourth quarter valued at $506,000. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Utz Brands Company Profile

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Utz Brands, Inc operates as a snack food manufacturing company. It offers a range of salty snacks, including potato chips, kettle chips, tortilla chips, pretzels, cheese snacks, veggie snacks, pork skins, pub/party mixes, salsa and queso, ready-to-eat popcorn, and other snacks under the Utz, Zapp's, ON THE BORDER, Golden Flake, Good Health, Boulder Canyon, Hawaiian, TGIF, TORTIYAHS!, and other brand names.

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