Utz Brands, Inc. (NYSE:UTZ) Receives $20.08 Average Target Price from Analysts

Shares of Utz Brands, Inc. (NYSE:UTZ) have earned an average recommendation of “Moderate Buy” from the twelve research firms that are covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $20.08.

Several equities research analysts have recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $22.00 price target on shares of Utz Brands in a research report on Friday. Mizuho lifted their price target on Utz Brands from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Barclays lowered their price objective on shares of Utz Brands from $23.00 to $19.00 and set an “overweight” rating on the stock in a research note on Friday, July 19th. Stephens boosted their target price on shares of Utz Brands from $21.00 to $23.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Finally, Royal Bank of Canada increased their price target on shares of Utz Brands from $19.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, May 3rd.

Insider Activity

In related news, major shareholder Series U. Of Um Partners, Llc sold 397,885 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $18.76, for a total transaction of $7,464,322.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, major shareholder Series U. Of Um Partners, Llc sold 397,885 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $18.76, for a total transaction of $7,464,322.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christina Choi sold 3,160 shares of Utz Brands stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $17.98, for a total transaction of $56,816.80. Following the transaction, the director now directly owns 29,740 shares of the company’s stock, valued at $534,725.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 431,151 shares of company stock worth $8,103,702. Company insiders own 17.00% of the company’s stock.

Institutional Investors Weigh In On Utz Brands

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Comerica Bank grew its holdings in shares of Utz Brands by 5.4% during the first quarter. Comerica Bank now owns 16,491 shares of the company’s stock worth $304,000 after purchasing an additional 848 shares during the last quarter. ProShare Advisors LLC increased its position in Utz Brands by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 12,944 shares of the company’s stock valued at $239,000 after acquiring an additional 1,017 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of Utz Brands by 11.6% in the fourth quarter. Parallel Advisors LLC now owns 9,924 shares of the company’s stock worth $161,000 after acquiring an additional 1,033 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its position in Utz Brands by 11.6% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 11,838 shares of the company’s stock worth $197,000 after purchasing an additional 1,228 shares during the last quarter. Finally, Personal CFO Solutions LLC lifted its stake in shares of Utz Brands by 8.8% during the fourth quarter. Personal CFO Solutions LLC now owns 20,572 shares of the company’s stock valued at $334,000 after acquiring an additional 1,664 shares during the period. 95.97% of the stock is owned by institutional investors and hedge funds.

Utz Brands Stock Up 3.1 %

UTZ opened at $16.25 on Friday. The firm has a market cap of $2.29 billion, a P/E ratio of -65.00, a price-to-earnings-growth ratio of 1.07 and a beta of 1.00. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.95 and a current ratio of 1.40. The business has a 50 day moving average price of $16.66 and a 200 day moving average price of $17.57. Utz Brands has a twelve month low of $11.17 and a twelve month high of $20.04.

Utz Brands (NYSE:UTZ) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. The business had revenue of $356.20 million during the quarter, compared to analysts’ expectations of $356.23 million. Utz Brands had a net margin of 0.29% and a return on equity of 6.80%. Utz Brands’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.13 earnings per share. Research analysts forecast that Utz Brands will post 0.73 EPS for the current year.

Utz Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 3rd. Shareholders of record on Monday, June 17th were paid a dividend of $0.059 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date was Monday, June 17th. Utz Brands’s dividend payout ratio is -92.00%.

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.