Stephens Raises Utz Brands (NYSE:UTZ) Price Target to $23.00

Utz Brands (NYSE:UTZ) had its price target upped by Stephens from $21.00 to $23.00 in a report published on Friday, Benzinga reports. The firm currently has an overweight rating on the stock.

Several other equities research analysts also recently weighed in on the stock. Royal Bank of Canada raised their price target on shares of Utz Brands from $19.00 to $23.00 and gave the company an outperform rating in a research report on Friday. Needham & Company LLC boosted their price target on Utz Brands from $20.50 to $22.00 and gave the stock a buy rating in a research note on Friday. Mizuho increased their price objective on Utz Brands from $22.00 to $24.00 and gave the company a buy rating in a research report on Friday. Bank of America raised Utz Brands from a neutral rating to a buy rating and boosted their target price for the stock from $19.00 to $22.00 in a research report on Thursday, March 14th. Finally, Piper Sandler raised their price target on shares of Utz Brands from $18.00 to $21.00 and gave the company an overweight rating in a report on Friday, March 1st. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $19.83.

Utz Brands Trading Down 1.6 %

Utz Brands stock opened at $19.24 on Friday. Utz Brands has a 12 month low of $11.17 and a 12 month high of $20.04. The company has a market capitalization of $2.71 billion, a price-to-earnings ratio of -76.96, a price-to-earnings-growth ratio of 1.70 and a beta of 0.97. The business’s fifty day simple moving average is $18.01 and its two-hundred day simple moving average is $16.22. The company has a current ratio of 1.42, a quick ratio of 0.97 and a debt-to-equity ratio of 0.65.

Utz Brands (NYSE:UTZ) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. The company had revenue of $346.50 million for the quarter, compared to analysts’ expectations of $346.99 million. Utz Brands had a negative net margin of 1.38% and a positive return on equity of 6.13%. Utz Brands’s revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.11 EPS. As a group, equities analysts predict that Utz Brands will post 0.72 earnings per share for the current fiscal year.

Utz Brands Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 2nd. Stockholders of record on Monday, April 15th were paid a dividend of $0.059 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend was Friday, April 12th. This is a boost from Utz Brands’s previous quarterly dividend of $0.06. Utz Brands’s dividend payout ratio (DPR) is currently -92.00%.

Insider Transactions at Utz Brands

In related news, major shareholder Series U. Of Um Partners, Llc sold 446,250 shares of Utz Brands stock in a transaction on Monday, March 4th. The stock was sold at an average price of $17.40, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Series U. Of Um Partners, Llc sold 446,250 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $17.40, for a total transaction of $7,764,750.00. Following the sale, the insider now directly owns 397,885 shares in the company, valued at approximately $6,923,199. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Roger K. Deromedi sold 13,446 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $19.03, for a total value of $255,877.38. Following the completion of the sale, the director now owns 3,548,704 shares in the company, valued at $67,531,837.12. The disclosure for this sale can be found here. Insiders sold 609,181 shares of company stock worth $10,754,925 in the last three months. Corporate insiders own 17.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. SRS Capital Advisors Inc. increased its position in Utz Brands by 120.2% in the fourth quarter. SRS Capital Advisors Inc. now owns 3,464 shares of the company’s stock worth $56,000 after purchasing an additional 1,891 shares during the last quarter. Delta Asset Management LLC TN grew its stake in shares of Utz Brands by 100.0% in the 4th quarter. Delta Asset Management LLC TN now owns 5,000 shares of the company’s stock worth $81,000 after buying an additional 2,500 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Utz Brands by 1,428.8% in the 4th quarter. International Assets Investment Management LLC now owns 5,473 shares of the company’s stock worth $89,000 after buying an additional 5,115 shares during the last quarter. Parallel Advisors LLC raised its position in shares of Utz Brands by 11.6% during the 4th quarter. Parallel Advisors LLC now owns 9,924 shares of the company’s stock valued at $161,000 after buying 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 3rd quarter valued at about $136,000. 95.97% of the stock is currently owned by institutional investors.

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.