Brokerages Set Utz Brands, Inc. (NYSE:UTZ) Target Price at $17.81

Shares of Utz Brands, Inc. (NYSE:UTZ) have been assigned a consensus rating of “Moderate Buy” from the eight analysts that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $17.81.

Several research analysts have issued reports on UTZ shares. Mizuho reduced their price objective on Utz Brands from $21.00 to $19.00 and set an “outperform” rating on the stock in a report on Monday, February 10th. Royal Bank of Canada reduced their price objective on Utz Brands from $23.00 to $20.00 and set an “outperform” rating on the stock in a report on Monday, February 24th. DA Davidson raised Utz Brands from a “neutral” rating to a “buy” rating and set a $16.00 price objective on the stock in a report on Thursday, April 24th. TD Cowen downgraded 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 report on Tuesday, April 22nd. Finally, UBS Group cut their price target on Utz Brands from $15.00 to $13.50 and set a “neutral” rating on the stock in a research note on Friday, May 2nd.

Utz Brands Stock Down 0.2%

NYSE:UTZ opened at $13.01 on Friday. The stock’s fifty day moving average price is $13.11 and its two-hundred day moving average price is $14.30. Utz Brands has a 52-week low of $11.53 and a 52-week high of $18.89. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.85 and a current ratio of 1.21. The company has a market cap of $1.84 billion, a price-to-earnings ratio of 72.28, a P/E/G ratio of 0.86 and a beta of 1.20.

Utz Brands (NYSE:UTZ) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.16. Utz Brands had a return on equity of 7.92% and a net margin of 1.13%. The firm had revenue of $352.08 million for the quarter, compared to the consensus estimate of $345.44 million. During the same quarter in the prior year, the business earned $0.14 EPS. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, analysts anticipate that Utz Brands will post 0.85 EPS for the current year.

Utz Brands Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Monday, April 7th were given a $0.011 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date of this dividend was Monday, April 7th. Utz Brands’s dividend payout ratio is currently 75.00%.

Insider Activity at Utz Brands

In related news, insider Cc Collier Holdings, Llc sold 496,038 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $13.40, for a total value of $6,646,909.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director William Jr. Werzyn purchased 8,000 shares of the business’s stock in a transaction on Wednesday, May 7th. The stock was bought at an average cost of $11.81 per share, for a total transaction of $94,480.00. Following the purchase, the director now owns 22,970 shares of the company’s stock, valued at approximately $271,275.70. This represents a 53.44% increase in their position. The disclosure for this purchase can be found here. 16.32% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of UTZ. JPMorgan Chase & Co. increased its holdings in Utz Brands by 14.9% during the 4th quarter. JPMorgan Chase & Co. now owns 7,923,292 shares of the company’s stock worth $124,079,000 after purchasing an additional 1,025,656 shares in the last quarter. Vanguard Group Inc. increased its holdings in Utz Brands by 7.2% during the 1st quarter. Vanguard Group Inc. now owns 7,439,869 shares of the company’s stock worth $104,753,000 after purchasing an additional 501,374 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in Utz Brands by 38.0% during the 1st quarter. Ameriprise Financial Inc. now owns 5,671,757 shares of the company’s stock worth $79,858,000 after purchasing an additional 1,560,884 shares in the last quarter. Champlain Investment Partners LLC increased its holdings in Utz Brands by 13.5% during the 4th quarter. Champlain Investment Partners LLC now owns 5,208,402 shares of the company’s stock worth $81,564,000 after purchasing an additional 620,196 shares in the last quarter. Finally, Copeland Capital Management LLC increased its holdings in Utz Brands by 1.9% during the 4th quarter. Copeland Capital Management LLC now owns 3,117,478 shares of the company’s stock worth $48,820,000 after purchasing an additional 59,429 shares in the last quarter. Institutional investors own 95.97% of the company’s stock.

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.