Utz Brands (NYSE:UTZ) Issues Earnings Results

Utz Brands (NYSE:UTZ) issued its earnings results on Thursday. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01, Briefing.com reports. The business had revenue of $346.50 million during the quarter, compared to the consensus estimate of $346.99 million. Utz Brands had a positive return on equity of 6.13% and a negative net margin of 1.38%. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.11 earnings per share.

Utz Brands Stock Performance

UTZ stock traded down $0.31 during midday trading on Friday, hitting $19.24. The company’s stock had a trading volume of 1,167,470 shares, compared to its average volume of 745,232. The stock’s 50-day moving average price is $18.01 and its 200 day moving average price is $16.16. The company has a quick ratio of 0.97, a current ratio of 1.42 and a debt-to-equity ratio of 0.65. Utz Brands has a 1 year low of $11.17 and a 1 year high of $20.04. The stock has a market cap of $2.71 billion, a price-to-earnings ratio of -76.96, a PEG ratio of 1.72 and a beta of 0.97.

Utz Brands Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 2nd. Investors of record on Monday, April 15th were given a dividend of $0.059 per share. This is a boost from Utz Brands’s previous quarterly dividend of $0.06. The ex-dividend date was Friday, April 12th. This represents a $0.24 annualized dividend and a dividend yield of 1.23%. Utz Brands’s payout ratio is presently -96.00%.

Insiders Place Their Bets

In other Utz Brands news, major shareholder Series U. Of Um Partners, Llc sold 446,250 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $17.40, for a total value of $7,764,750.00. Following the transaction, the insider now owns 397,885 shares of the company’s stock, valued at $6,923,199. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Utz Brands news, major shareholder Series U. Of Um Partners, Llc sold 446,250 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $17.40, for a total value of $7,764,750.00. Following the transaction, the insider now owns 397,885 shares of the company’s stock, valued at $6,923,199. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Roger K. Deromedi sold 32,052 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $19.10, for a total value of $612,193.20. Following the completion of the transaction, the director now directly owns 3,516,652 shares in the company, valued at approximately $67,168,053.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 609,181 shares of company stock valued at $10,754,925. Insiders own 17.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on UTZ. Piper Sandler lifted their target price on Utz Brands from $18.00 to $21.00 and gave the stock an “overweight” rating in a report on Friday, March 1st. Stephens raised their price objective on Utz Brands from $21.00 to $23.00 and gave the company an “overweight” rating in a research note on Friday. DA Davidson began coverage on Utz Brands in a research note on Friday, March 1st. They issued a “neutral” rating and a $20.00 price objective for the company. Truist Financial raised their price objective on Utz Brands from $13.00 to $17.00 and gave the company a “hold” rating in a research note on Monday, March 4th. Finally, Bank of America raised Utz Brands from a “neutral” rating to a “buy” rating and raised their price objective for the company from $19.00 to $22.00 in a research note on Thursday, March 14th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Utz Brands has an average rating of “Moderate Buy” and a consensus price target of $19.83.

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.