Utz Brands, Inc. (NYSE:UTZ) Given Average Recommendation of “Moderate Buy” by Brokerages

by · The Cerbat Gem

Shares of Utz Brands, Inc. (NYSE:UTZ – Get Free Report) have been given a consensus rating of “Moderate Buy” by the nine research firms that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $21.22.

UTZ has been the subject of a number of recent analyst reports. Mizuho cut 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 note on Monday, November 4th. Barclays dropped their price target on Utz Brands from $23.00 to $19.00 and set an “overweight” rating on the stock in a research note on Friday, July 19th. Needham & Company LLC reiterated a “buy” rating and issued a $22.00 price objective on shares of Utz Brands in a report on Friday, August 2nd. Finally, Piper Sandler raised their target price on shares of Utz Brands from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st.

View Our Latest Analysis on Utz Brands

Insider Buying and Selling at Utz Brands

In other Utz Brands news, EVP Cary Devore sold 30,000 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $17.32, for a total value of $519,600.00. Following the sale, the executive vice president now owns 451,117 shares of the company’s stock, valued at $7,813,346.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Cc Collier Holdings, Llc sold 2,815,404 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $17.29, for a total transaction of $48,678,335.16. Following the sale, the insider now directly owns 496,038 shares of the company’s stock, valued at approximately $8,576,497.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Cary Devore sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $17.32, for a total transaction of $519,600.00. Following the completion of the transaction, the executive vice president now owns 451,117 shares of the company’s stock, valued at approximately $7,813,346.44. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 17.00% of the company’s stock.

Hedge Funds Weigh In On Utz Brands

Several institutional investors and hedge funds have recently bought and sold shares of UTZ. Picton Mahoney Asset Management purchased a new stake in Utz Brands during the second quarter valued at approximately $5,422,000. Victory Capital Management Inc. boosted its position in Utz Brands by 19.0% during the 3rd quarter. Victory Capital Management Inc. now owns 1,474,047 shares of the company’s stock valued at $26,091,000 after acquiring an additional 235,622 shares in the last quarter. Jennison Associates LLC boosted 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 valued at $24,554,000 after purchasing an additional 175,956 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in shares of Utz Brands in the 2nd quarter worth approximately $1,981,000. Finally, GSA Capital Partners LLP grew its holdings in Utz Brands by 100.0% in the third quarter. GSA Capital Partners LLP now owns 165,896 shares of the company’s stock worth $2,936,000 after purchasing an additional 82,935 shares during the last quarter. 95.97% of the stock is currently owned by hedge funds and other institutional investors.

Utz Brands Price Performance

Shares of NYSE:UTZ opened at $17.41 on Tuesday. The firm has a market capitalization of $2.45 billion, a PE ratio of -91.63, a PEG ratio of 1.20 and a beta of 1.01. The company has a current ratio of 1.21, a quick ratio of 0.85 and a debt-to-equity ratio of 0.56. The business’s 50 day moving average is $17.37 and its 200-day moving average is $17.21. Utz Brands has a 1-year low of $12.13 and a 1-year high of $20.04.

Utz Brands (NYSE:UTZ – Get Free Report) last announced its earnings results on Thursday, October 31st. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. Utz Brands had a negative net margin of 0.99% and a positive return on equity of 7.25%. The company had revenue of $365.50 million during the quarter, compared to the consensus estimate of $363.98 million. During the same period in the previous year, the firm posted $0.17 earnings per share. The company’s revenue was down 1.7% on a year-over-year basis. Sell-side analysts predict that Utz Brands will post 0.73 earnings per share for the current year.

Utz Brands Announces Dividend

The company also recently declared a None dividend, which was paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th were paid a dividend of $0.011 per share. This represents a yield of 1.3%. The ex-dividend date was Monday, September 16th. Utz Brands’s dividend payout ratio (DPR) is currently -126.32%.

About Utz Brands

(Get Free Report

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.

Recommended Stories