Insider Selling: Utz Brands, Inc. (NYSE:UTZ) Director Sells $1,284,225.15 in Stock

Utz Brands, Inc. (NYSE:UTZ) Director Roger K. Deromedi sold 66,027 shares of the company’s stock in a transaction dated Thursday, May 2nd. The stock was 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 approximately $45,040,228.85. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Utz Brands Stock Performance

NYSE:UTZ opened at $18.55 on Thursday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.95 and a current ratio of 1.40. The stock has a 50-day simple moving average of $18.03 and a two-hundred day simple moving average of $16.33. The firm has a market capitalization of $2.61 billion, a PE ratio of -74.18, a P/E/G ratio of 1.32 and a beta of 0.97. Utz Brands, Inc. has a 52-week low of $11.17 and a 52-week high of $20.04.

Utz Brands (NYSE:UTZ) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. Utz Brands had a positive return on equity of 6.16% and a negative net margin of 1.38%. The company had revenue of $346.50 million during the quarter, compared to the consensus estimate of $346.99 million. During the same period in the previous year, the company posted $0.11 EPS. The firm’s revenue was down 1.4% on a year-over-year basis. Analysts forecast that Utz Brands, Inc. will post 0.72 EPS for the current year.

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 is a boost from Utz Brands’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Friday, April 12th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.27%. Utz Brands’s payout ratio is -96.00%.

Analyst Ratings Changes

Several research analysts have recently issued reports on UTZ shares. Bank of America upgraded shares of Utz Brands from a “neutral” rating to a “buy” rating and upped their target price for the stock from $19.00 to $22.00 in a research note on Thursday, March 14th. Barclays raised their price target on shares of Utz Brands from $20.00 to $23.00 and gave the company an “overweight” rating in a report on Monday. Needham & Company LLC increased their price target on Utz Brands from $20.50 to $22.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Piper Sandler raised their price target on Utz Brands from $18.00 to $21.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st. Finally, Mizuho upped 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, May 3rd. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $20.42.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Pathstone Family Office LLC lifted its position in shares of Utz Brands by 0.3% in the third quarter. Pathstone Family Office LLC now owns 300,466 shares of the company’s stock valued at $4,035,000 after acquiring an additional 888 shares in the last quarter. ProShare Advisors LLC grew its holdings in Utz Brands by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 12,944 shares of the company’s stock valued at $239,000 after buying an additional 1,017 shares in the last quarter. Parallel Advisors LLC raised its position in shares of Utz Brands by 11.6% during the fourth 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 during the last quarter. First Bank & Trust lifted its holdings in shares of Utz Brands by 8.7% in the fourth quarter. First Bank & Trust now owns 13,536 shares of the company’s stock worth $220,000 after buying an additional 1,083 shares in the last quarter. Finally, Personal CFO Solutions LLC boosted its position in shares of Utz Brands by 6.7% during the third quarter. Personal CFO Solutions LLC now owns 18,908 shares of the company’s stock worth $254,000 after acquiring an additional 1,187 shares during the last quarter. Institutional investors 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.