Utz Brands, Inc. Plans None Dividend of $0.01 (NYSE:UTZ)

Utz Brands, Inc. (NYSE:UTZ) announced a None dividend on Thursday, September 5th, NASDAQ reports. Stockholders of record on Monday, September 16th will be given a dividend of 0.011 per share on Thursday, October 3rd. This represents a dividend yield of 1.3%. The ex-dividend date is Monday, September 16th.

Utz Brands has raised its dividend by an average of 27.5% per year over the last three years. Utz Brands has a dividend payout ratio of 28.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Utz Brands to earn $0.85 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 28.2%.

Utz Brands Stock Up 1.3 %

Shares of Utz Brands stock traded up $0.23 during trading hours on Friday, hitting $17.75. The company had a trading volume of 445,294 shares, compared to its average volume of 787,727. The company’s 50-day moving average is $16.37 and its two-hundred day moving average is $17.38. The company has a market cap of $2.50 billion, a P/E ratio of -71.00, a price-to-earnings-growth ratio of 1.18 and a beta of 1.01. Utz Brands has a twelve month low of $11.17 and a twelve month high of $20.04. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.69 and a quick ratio of 1.21.

Utz Brands (NYSE:UTZ) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. Utz Brands had a net margin of 0.29% and a return on equity of 6.79%. The firm had revenue of $356.20 million for the quarter, compared to analysts’ expectations of $356.23 million. The firm’s revenue was down 1.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.13 EPS. Analysts anticipate that Utz Brands will post 0.74 earnings per share for the current fiscal year.

Analyst Ratings Changes

UTZ has been the subject of a number of analyst reports. Barclays reduced their price target on Utz Brands from $23.00 to $19.00 and set an “overweight” rating for the company in a research report on Friday, July 19th. Piper Sandler reissued an “overweight” rating and set a $22.00 price objective on shares of Utz Brands in a research report on Wednesday, August 21st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $22.00 target price on shares of Utz Brands in a research report on Friday, August 2nd. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Utz Brands has a consensus rating of “Moderate Buy” and a consensus target price of $20.36.

Insider Transactions at Utz Brands

In related news, Director Bruce John Lindeman bought 4,000 shares of the company’s stock in a transaction on Monday, August 5th. The shares were acquired at an average cost of $16.11 per share, for a total transaction of $64,440.00. Following the purchase, the director now directly owns 42,480 shares of the company’s stock, valued at $684,352.80. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 17.00% 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.