Utz Brands (NYSE:UTZ) Posts Earnings Results

Utz Brands (NYSE:UTZ) posted its quarterly earnings results on Thursday. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03, Briefing.com reports. Utz Brands had a net margin of 0.29% and a return on equity of 6.80%. The business had revenue of $356.20 million during the quarter, compared to analysts’ expectations of $356.23 million. During the same quarter last year, the company posted $0.13 earnings per share. The business’s quarterly revenue was down 1.8% on a year-over-year basis. Utz Brands updated its FY 2024 guidance to 0.730-0.750 EPS.

Utz Brands Trading Up 3.1 %

Shares of NYSE UTZ traded up $0.49 during trading on Friday, hitting $16.25. The company had a trading volume of 1,188,614 shares, compared to its average volume of 896,705. The stock has a fifty day simple moving average of $16.66 and a two-hundred day simple moving average of $17.56. Utz Brands has a fifty-two week low of $11.17 and a fifty-two week high of $20.04. The company has a quick ratio of 0.95, a current ratio of 1.40 and a debt-to-equity ratio of 0.54.

Utz Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 3rd. Stockholders of record on Monday, June 17th were given a $0.059 dividend. The ex-dividend date was Monday, June 17th. This represents a $0.24 annualized dividend and a dividend yield of 1.45%. Utz Brands’s dividend payout ratio (DPR) is -96.00%.

Insider Activity

In related news, EVP Mark Schreiber sold 20,103 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $19.47, for a total transaction of $391,405.41. Following the transaction, the executive vice president now directly owns 108,126 shares in the company, valued at $2,105,213.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Mark Schreiber sold 20,103 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $19.47, for a total transaction of $391,405.41. Following the transaction, the executive vice president now directly owns 108,126 shares in the company, valued at $2,105,213.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Christina Choi sold 3,160 shares of the business’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $17.98, for a total transaction of $56,816.80. Following the transaction, the director now owns 29,740 shares in the company, valued at $534,725.20. The disclosure for this sale can be found here. Insiders have sold a total of 431,151 shares of company stock worth $8,103,702 over the last 90 days. 17.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Barclays reduced their target price on shares of Utz Brands from $23.00 to $19.00 and set an “overweight” rating for the company in a report on Friday, July 19th. Mizuho raised their target price on shares of Utz Brands from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Needham & Company LLC reissued a “buy” rating and set a $22.00 target price on shares of Utz Brands in a report on Friday. Stephens lifted their price objective on shares of Utz Brands from $21.00 to $23.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Finally, Royal Bank of Canada lifted their price objective on shares of Utz Brands from $19.00 to $23.00 and gave the company an “outperform” rating in a 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 company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $20.08.

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.