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

Utz Brands, Inc. (NYSE:UTZ) declared a None dividend on Thursday, September 5th, NASDAQ reports. Investors 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 of this dividend is Monday, September 16th.

Utz Brands has raised its dividend payment 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 Price Performance

UTZ traded up $0.23 on Friday, hitting $17.75. 445,294 shares of the company were exchanged, compared to its average volume of 787,727. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.21 and a current ratio of 1.69. The firm has a market capitalization 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. The business’s fifty day moving average is $16.37 and its 200 day moving average is $17.38. Utz Brands has a fifty-two week low of $11.17 and a fifty-two week high of $20.04.

Utz Brands (NYSE:UTZ) last posted its earnings results on Thursday, August 1st. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.03. The business had revenue of $356.20 million for the quarter, compared to analyst estimates of $356.23 million. Utz Brands had a net margin of 0.29% and a return on equity of 6.79%. The business’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.13 EPS. As a group, sell-side analysts anticipate that Utz Brands will post 0.74 EPS for the current year.

Wall Street Analyst Weigh In

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

Insider Activity at Utz Brands

In related news, Director Bruce John Lindeman bought 4,000 shares of the stock in a transaction dated Monday, August 5th. The stock was acquired at an average price of $16.11 per share, for a total transaction of $64,440.00. Following the acquisition, the director now owns 42,480 shares in the company, valued at approximately $684,352.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 17.00% of the stock is currently owned by insiders.

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.