Utz Brands, Inc. (NYSE:UTZ) Plans Quarterly Dividend of $0.06

Utz Brands, Inc. (NYSE:UTZ) announced a quarterly dividend on Thursday, June 6th, NASDAQ reports. Shareholders of record on Monday, June 17th will be given a dividend of 0.059 per share on Wednesday, July 3rd. This represents a $0.24 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend is Monday, June 17th.

Utz Brands has increased its dividend payment by an average of 27.5% per year over the last three years and has increased its dividend annually for the last 3 consecutive years. Utz Brands has a dividend payout ratio of 28.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Utz Brands to earn $0.84 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 28.6%.

Utz Brands Stock Performance

Shares of NYSE UTZ traded down $0.20 during trading on Friday, hitting $18.43. The company had a trading volume of 378,362 shares, compared to its average volume of 773,964. Utz Brands has a 12 month low of $11.17 and a 12 month high of $20.04. 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 firm has a market capitalization of $2.60 billion, a P/E ratio of -73.72, a price-to-earnings-growth ratio of 1.29 and a beta of 0.99. The stock has a 50 day simple moving average of $18.15 and a 200 day simple moving average of $17.17.

Utz Brands (NYSE:UTZ) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.13 by $0.01. Utz Brands had a negative net margin of 1.38% and a positive return on equity of 6.16%. The firm had revenue of $346.50 million for the quarter, compared to the consensus estimate of $346.99 million. During the same period last year, the firm earned $0.11 EPS. The company’s revenue was down 1.4% on a year-over-year basis. As a group, analysts anticipate that Utz Brands will post 0.72 earnings per share for the current year.

Insider Transactions at Utz Brands

In related news, Director Christina Choi sold 3,160 shares of Utz Brands stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $17.98, for a total value of $56,816.80. Following the completion of the sale, the director now directly owns 29,740 shares in the company, valued at $534,725.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Utz Brands news, major shareholder Chinh Chu sold 92,226 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $17.80, for a total transaction of $1,641,622.80. Following the completion of the sale, the insider now owns 3,556,154 shares in the company, valued at $63,299,541.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Christina Choi sold 3,160 shares of Utz Brands stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $17.98, for a total value of $56,816.80. Following the completion of the transaction, the director now owns 29,740 shares in the company, valued at $534,725.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 589,404 shares of company stock worth $11,029,550. 17.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

UTZ has been the topic of several recent analyst reports. Piper Sandler lifted their target price on Utz Brands from $18.00 to $21.00 and gave the company an “overweight” rating in a research note on Friday, March 1st. Bank of America upgraded shares of Utz Brands from a “neutral” rating to a “buy” rating and upped their target price for the stock from $19.00 to $22.00 in a research report on Thursday, March 14th. Stephens boosted their price target on shares of Utz Brands from $21.00 to $23.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. Royal Bank of Canada raised their price objective on Utz Brands from $19.00 to $23.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Finally, DA Davidson started coverage on Utz Brands in a report on Friday, March 1st. They issued a “neutral” rating and a $20.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $20.42.

Utz Brands Company Profile

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.