Utz Brands (NYSE:UTZ) Price Target Lowered to $16.00 at Barclays

Utz Brands (NYSE:UTZ) had its price objective decreased by Barclays from $17.00 to $16.00 in a report released on Friday,Benzinga reports. Barclays currently has an overweight rating on the stock.

Other research analysts also recently issued reports about the stock. DA Davidson upgraded shares of Utz Brands from a “neutral” rating to a “buy” rating and set a $16.00 price target for the company in a report on Thursday, April 24th. TD Cowen lowered Utz Brands from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $17.00 to $15.00 in a research report on Tuesday, April 22nd. Finally, UBS Group lowered their target price on Utz Brands from $15.00 to $13.50 and set a “neutral” rating for the company in a report on Friday, May 2nd. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.69.

Utz Brands Stock Down 2.4%

Shares of NYSE UTZ opened at $12.45 on Friday. The company has a market cap of $1.76 billion, a price-to-earnings ratio of 38.89, a PEG ratio of 1.52 and a beta of 1.18. The company has a current ratio of 1.32, a quick ratio of 0.91 and a debt-to-equity ratio of 0.61. Utz Brands has a 12 month low of $11.53 and a 12 month high of $18.89. The stock has a 50-day moving average price of $12.96 and a two-hundred day moving average price of $13.73.

Utz Brands (NYSE:UTZ) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.16 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.16. The business had revenue of $352.08 million during the quarter, compared to analysts’ expectations of $345.44 million. Utz Brands had a net margin of 1.94% and a return on equity of 8.05%. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.14 EPS. As a group, analysts forecast that Utz Brands will post 0.85 earnings per share for the current fiscal year.

Utz Brands Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Monday, June 16th will be given a dividend of $0.061 per share. This is a positive change from Utz Brands’s previous quarterly dividend of $0.01. This represents a $0.24 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Monday, June 16th. Utz Brands’s dividend payout ratio (DPR) is currently 75.00%.

Insiders Place Their Bets

In other news, Director Timothy Brown acquired 5,000 shares of the firm’s stock in a transaction dated Monday, May 5th. The stock was bought at an average cost of $11.96 per share, for a total transaction of $59,800.00. Following the completion of the transaction, the director now directly owns 67,573 shares in the company, valued at $808,173.08. This represents a 7.99% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director William Jr. Werzyn bought 8,000 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were purchased at an average cost of $11.81 per share, with a total value of $94,480.00. Following the purchase, the director now directly owns 22,970 shares of the company’s stock, valued at $271,275.70. The trade was a 53.44% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 16.32% of the company’s stock.

Hedge Funds Weigh In On Utz Brands

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Simon Quick Advisors LLC grew its holdings in Utz Brands by 9.7% during the 1st quarter. Simon Quick Advisors LLC now owns 15,967 shares of the company’s stock worth $225,000 after acquiring an additional 1,411 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Utz Brands by 4.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,280 shares of the company’s stock valued at $584,000 after purchasing an additional 1,596 shares in the last quarter. Rhumbline Advisers grew its stake in Utz Brands by 1.9% during the fourth quarter. Rhumbline Advisers now owns 95,103 shares of the company’s stock worth $1,489,000 after purchasing an additional 1,757 shares during the period. LPL Financial LLC grew its stake in Utz Brands by 4.7% during the fourth quarter. LPL Financial LLC now owns 39,879 shares of the company’s stock worth $624,000 after purchasing an additional 1,789 shares during the period. Finally, Diversify Wealth Management LLC increased its holdings in Utz Brands by 11.5% in the first quarter. Diversify Wealth Management LLC now owns 18,632 shares of the company’s stock worth $249,000 after purchasing an additional 1,918 shares in the last quarter. Institutional investors and hedge funds 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.