Utz Brands (NYSE:UTZ) Price Target Lowered to $17.00 at Barclays

Utz Brands (NYSE:UTZ) had its price target reduced by Barclays from $19.00 to $17.00 in a research note released on Friday,Benzinga reports. They currently have an overweight rating on the stock.

Several other analysts also recently weighed in on UTZ. TD Cowen reduced their price objective on shares of Utz Brands from $21.00 to $17.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Piper Sandler reduced their price objective on shares of Utz Brands from $24.00 to $20.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, Mizuho reduced their price target on shares of Utz Brands from $24.00 to $21.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $20.20.

Utz Brands Stock Up 2.5 %

Shares of NYSE:UTZ opened at $14.26 on Friday. The company has a market capitalization of $2.01 billion, a PE ratio of -75.07, a P/E/G ratio of 0.86 and a beta of 1.03. The company has a current ratio of 1.21, a quick ratio of 0.85 and a debt-to-equity ratio of 0.56. Utz Brands has a twelve month low of $13.36 and a twelve month high of $20.04. The firm has a 50 day simple moving average of $16.15 and a 200-day simple moving average of $16.55.

Utz Brands (NYSE:UTZ) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.01. The business had revenue of $365.50 million during the quarter, compared to the consensus estimate of $363.98 million. Utz Brands had a negative net margin of 0.99% and a positive return on equity of 7.25%. The company’s revenue was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.17 EPS. On average, equities analysts predict that Utz Brands will post 0.74 EPS for the current fiscal year.

Utz Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th were paid a $0.061 dividend. This is a boost from Utz Brands’s previous quarterly dividend of $0.06. This represents a $0.24 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend was Monday, December 16th. Utz Brands’s payout ratio is currently -126.32%.

Insider Buying and Selling at Utz Brands

In other news, EVP Cary Devore sold 30,000 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $17.32, for a total transaction of $519,600.00. Following the transaction, the executive vice president now directly owns 451,117 shares of the company’s stock, valued at $7,813,346.44. This represents a 6.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Cc Collier Holdings, Llc sold 2,815,404 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $17.29, for a total transaction of $48,678,335.16. Following the transaction, the insider now directly owns 496,038 shares in the company, valued at approximately $8,576,497.02. This trade represents a 85.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Utz Brands

Institutional investors and hedge funds have recently made changes to their positions in the stock. Canada Pension Plan Investment Board acquired a new position in shares of Utz Brands during the 2nd quarter worth $80,000. nVerses Capital LLC acquired a new position in shares of Utz Brands during the 3rd quarter worth $142,000. Moody National Bank Trust Division purchased a new stake in shares of Utz Brands in the 4th quarter worth about $169,000. XTX Topco Ltd purchased a new stake in shares of Utz Brands in the 2nd quarter worth about $185,000. Finally, MQS Management LLC purchased a new stake in shares of Utz Brands in the 2nd quarter worth about $187,000. 95.97% of the stock is owned by institutional investors and hedge funds.

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.