Utz Brands, Inc. (NYSE:UTZ – Get Free Report)’s stock price was down 3.8% during trading on Monday after Barclays lowered their price target on the stock from $23.00 to $19.00. Barclays currently has an overweight rating on the stock. Utz Brands traded as low as $15.03 and last traded at $15.03. Approximately 88,713 shares changed hands during trading, a decline of 88% from the average daily volume of 755,901 shares. The stock had previously closed at $15.62.
Several other equities analysts have also recently weighed in on UTZ. Stephens raised their price objective on Utz Brands from $21.00 to $23.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Mizuho increased their price objective on Utz Brands from $22.00 to $24.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Royal Bank of Canada boosted their target price on shares of Utz Brands from $19.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Finally, Needham & Company LLC increased their price target on shares of Utz Brands from $20.50 to $22.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $20.08.
Insider Activity
In related news, Director Roger K. Deromedi sold 66,027 shares of Utz Brands stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $19.45, for a total transaction of $1,284,225.15. Following the completion of the sale, the director now owns 2,315,693 shares of the company’s stock, valued at approximately $45,040,228.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Roger K. Deromedi sold 66,027 shares of Utz Brands stock in a transaction that occurred on 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 sale, the director now directly owns 2,315,693 shares of the company’s stock, valued at approximately $45,040,228.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Christina Choi sold 3,160 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $17.98, for a total value of $56,816.80. Following the completion of the transaction, the director now directly owns 29,740 shares in the company, valued at $534,725.20. The disclosure for this sale can be found here. Insiders have sold 497,178 shares of company stock valued at $9,387,927 over the last ninety days. 17.00% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Utz Brands
A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Utz Brands by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 6,780,350 shares of the company’s stock worth $110,113,000 after purchasing an additional 22,908 shares in the last quarter. Copeland Capital Management LLC boosted its stake in shares of Utz Brands by 7.2% in the fourth quarter. Copeland Capital Management LLC now owns 2,952,337 shares of the company’s stock valued at $47,946,000 after buying an additional 199,472 shares during the period. Jennison Associates LLC grew its position in Utz Brands by 15.2% during the first quarter. Jennison Associates LLC now owns 1,331,581 shares of the company’s stock worth $24,554,000 after buying an additional 175,956 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Utz Brands by 26.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,212,493 shares of the company’s stock worth $19,691,000 after acquiring an additional 250,557 shares during the period. Finally, Clearbridge Investments LLC lifted its position in shares of Utz Brands by 2.2% during the 1st quarter. Clearbridge Investments LLC now owns 874,124 shares of the company’s stock valued at $16,119,000 after acquiring an additional 18,786 shares during the period. 95.97% of the stock is owned by institutional investors.
Utz Brands Stock Down 5.1 %
The company has a market cap of $2.09 billion, a P/E ratio of -59.60, a PEG ratio of 1.08 and a beta of 1.00. The stock has a 50-day moving average of $17.32 and a 200 day moving average of $17.70. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.40 and a quick ratio of 0.95.
Utz Brands (NYSE:UTZ – Get Free Report) last issued its earnings results on Thursday, May 2nd. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.13 by $0.01. The company had revenue of $346.50 million during 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 6.16%. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.11 EPS. Research analysts anticipate that Utz Brands, Inc. will post 0.72 earnings per share for the current year.
Utz Brands Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 3rd. Shareholders of record on Monday, June 17th were issued a $0.059 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date was Monday, June 17th. Utz Brands’s dividend payout ratio is presently -96.00%.
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.