Utz Brands, Inc. (NYSE:UTZ) Receives Consensus Rating of “Hold” from Brokerages

Shares of Utz Brands, Inc. (NYSE:UTZ) have been given a consensus recommendation of “Hold” by the ten ratings firms that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $14.3750.

Several research firms have recently commented on UTZ. Zacks Research downgraded shares of Utz Brands from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 14th. Bank of America decreased their target price on shares of Utz Brands from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Tuesday, January 13th. Piper Sandler cut their price target on Utz Brands from $15.00 to $13.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 13th. Mizuho set a $16.00 price objective on Utz Brands in a research note on Monday, November 3rd. Finally, TD Cowen lowered their target price on Utz Brands from $14.00 to $12.00 and set a “hold” rating on the stock in a research note on Friday, October 31st.

Insider Transactions at Utz Brands

In other news, major shareholder Series R. Of Um Partners, Llc bought 12,420 shares of the business’s stock in a transaction dated Friday, November 21st. The stock was purchased at an average cost of $9.60 per share, with a total value of $119,232.00. Following the acquisition, the insider directly owned 628,594 shares in the company, valued at $6,034,502.40. This trade represents a 2.02% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Howard A. Friedman bought 7,200 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was purchased at an average price of $10.58 per share, with a total value of $76,176.00. Following the completion of the purchase, the chief executive officer owned 66,298 shares in the company, valued at approximately $701,432.84. This trade represents a 12.18% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought 92,313 shares of company stock valued at $947,055 in the last 90 days. 16.32% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Utz Brands

Institutional investors have recently modified their holdings of the business. NewEdge Advisors LLC purchased a new position in shares of Utz Brands in the 2nd quarter valued at about $25,000. Aster Capital Management DIFC Ltd grew its holdings in Utz Brands by 194.8% in the third quarter. Aster Capital Management DIFC Ltd now owns 2,618 shares of the company’s stock valued at $32,000 after purchasing an additional 1,730 shares during the period. Farther Finance Advisors LLC increased its position in shares of Utz Brands by 118.5% in the fourth quarter. Farther Finance Advisors LLC now owns 4,356 shares of the company’s stock valued at $45,000 after buying an additional 2,362 shares in the last quarter. Osaic Holdings Inc. increased its position in shares of Utz Brands by 76.1% in the second quarter. Osaic Holdings Inc. now owns 3,756 shares of the company’s stock valued at $47,000 after buying an additional 1,623 shares in the last quarter. Finally, Ameritas Investment Partners Inc. raised its stake in shares of Utz Brands by 16.1% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,394 shares of the company’s stock worth $93,000 after buying an additional 1,023 shares during the period. 95.97% of the stock is currently owned by institutional investors and hedge funds.

Utz Brands Trading Down 2.3%

Utz Brands stock opened at $10.24 on Thursday. The stock has a 50-day moving average price of $10.07 and a 200 day moving average price of $11.68. The company has a market capitalization of $1.46 billion, a price-to-earnings ratio of 146.21, a price-to-earnings-growth ratio of 1.37 and a beta of 0.90. Utz Brands has a 52 week low of $9.15 and a 52 week high of $14.67. The company has a quick ratio of 0.80, a current ratio of 1.22 and a debt-to-equity ratio of 0.62.

Utz Brands (NYSE:UTZ) last issued its quarterly earnings results on Thursday, October 30th. The company reported $0.23 earnings per share for the quarter, hitting the consensus estimate of $0.23. Utz Brands had a net margin of 0.39% and a return on equity of 8.12%. The company had revenue of $377.80 million for the quarter, compared to the consensus estimate of $374.25 million. During the same quarter in the prior year, the company earned $0.21 EPS. Utz Brands’s quarterly revenue was up 3.4% on a year-over-year basis. Sell-side analysts anticipate that Utz Brands will post 0.85 EPS for the current year.

Utz Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 15th were given a $0.063 dividend. The ex-dividend date was Monday, December 15th. This represents a $0.25 annualized dividend and a yield of 2.5%. This is a boost from Utz Brands’s previous quarterly dividend of $0.06. Utz Brands’s payout ratio is currently 357.14%.

About Utz Brands

Utz Brands, Inc is a leading U.S. manufacturer and distributor of salty snack foods, offering a wide range of products including potato chips, pretzels, cheese snacks, popcorn and tortilla chips. Headquartered in Hanover, Pennsylvania, the company markets its snacks under several well-known brands and serves grocery, mass merchandise, club, convenience and online retailers throughout the United States.

Founded in 1921 by Bill and Salie Utz as a small country store operation, the business expanded gradually through direct delivery to local customers and sales to regional grocers.