Utz Brands (NYSE:UTZ) Shares Down 3.9% – What’s Next?

Shares of Utz Brands, Inc. (NYSE:UTZ) dropped 3.9% during mid-day trading on Tuesday . The company traded as low as $12.78 and last traded at $12.73. Approximately 150,851 shares were traded during trading, a decline of 88% from the average daily volume of 1,209,491 shares. The stock had previously closed at $13.25.

Analysts Set New Price Targets

Several analysts have recently commented on UTZ shares. Barclays reduced their target price on Utz Brands from $19.00 to $17.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Mizuho decreased their price objective on Utz Brands from $24.00 to $21.00 and set an “outperform” rating for the company in a report on Monday, November 4th. TD Cowen cut their target price on Utz Brands from $21.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Finally, Piper Sandler reduced their price target on shares of Utz Brands from $24.00 to $20.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Utz Brands currently has an average rating of “Moderate Buy” and an average target price of $20.20.

Utz Brands Stock Performance

The company has a debt-to-equity ratio of 0.56, a current ratio of 1.21 and a quick ratio of 0.85. The company’s fifty day moving average price is $15.22 and its 200 day moving average price is $16.33. The company has a market cap of $1.91 billion, a PE ratio of -71.24, a P/E/G ratio of 0.85 and a beta of 1.02.

Utz Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th were paid a $0.061 dividend. This is a positive change from Utz Brands’s previous quarterly dividend of $0.06. The ex-dividend date was Monday, December 16th. This represents a $0.24 annualized dividend and a yield of 1.80%. Utz Brands’s dividend payout ratio (DPR) is -126.32%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Newton One Investments LLC bought a new stake in shares of Utz Brands during the 4th quarter worth $26,000. Rhumbline Advisers raised its position in Utz Brands by 1.9% in the fourth quarter. Rhumbline Advisers now owns 95,103 shares of the company’s stock worth $1,489,000 after acquiring an additional 1,757 shares during the period. M&T Bank Corp raised its position in Utz Brands by 18.9% in the fourth quarter. M&T Bank Corp now owns 12,678 shares of the company’s stock worth $198,000 after acquiring an additional 2,011 shares during the period. Truist Financial Corp boosted its stake in Utz Brands by 11.0% in the fourth quarter. Truist Financial Corp now owns 26,917 shares of the company’s stock valued at $422,000 after acquiring an additional 2,667 shares during the last quarter. Finally, Creative Planning grew its position in shares of Utz Brands by 8.2% during the 2nd quarter. Creative Planning now owns 37,155 shares of the company’s stock valued at $618,000 after acquiring an additional 2,802 shares during the period. Hedge funds and other institutional investors own 95.97% of the company’s stock.

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.