Utz Brands, Inc. (NYSE:UTZ) Stock Has Average Target Price of $13.39

Shares of Utz Brands, Inc. (NYSE:UTZ) have been assigned a consensus recommendation of “Hold” from the eleven brokerages that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $13.39.

A number of equities analysts have commented on the stock. Piper Sandler reaffirmed a “neutral” rating and set a $14.25 target price (up from $10.00) on shares of Utz Brands in a research note on Thursday, July 23rd. Barclays lowered shares of Utz Brands from an “overweight” rating to an “equal weight” rating and set a $14.00 price target on the stock. in a research note on Tuesday, July 21st. BTIG Research lowered Utz Brands from a “buy” rating to a “hold” rating in a report on Monday, July 27th. Jefferies Financial Group downgraded Utz Brands from a “strong-buy” rating to a “hold” rating and set a $14.25 price objective for the company. in a research report on Tuesday, July 21st. Finally, Wall Street Zen lowered shares of Utz Brands from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Copeland Capital Management LLC grew its holdings in shares of Utz Brands by 17.8% during the first quarter. Copeland Capital Management LLC now owns 4,063,561 shares of the company’s stock worth $32,183,000 after purchasing an additional 613,699 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Utz Brands by 21.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,998,089 shares of the company’s stock valued at $15,824,000 after buying an additional 355,460 shares during the period. Diamond Hill Capital Management LLC Investment Advisor acquired a new position in Utz Brands in the 2nd quarter valued at $14,462,000. Clearbridge Investments LLC raised its position in Utz Brands by 9.4% during the 4th quarter. Clearbridge Investments LLC now owns 932,242 shares of the company’s stock worth $9,677,000 after buying an additional 80,205 shares during the last quarter. Finally, Royal Bank of Canada lifted its position in Utz Brands by 61.4% in the first quarter. Royal Bank of Canada now owns 937,060 shares of the company’s stock valued at $7,421,000 after purchasing an additional 356,428 shares during the period. 95.97% of the stock is owned by hedge funds and other institutional investors.

Utz Brands Trading Up 0.2%

UTZ opened at $14.31 on Tuesday. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of -43.38 and a beta of 0.72. The company’s 50 day simple moving average is $14.21 and its two-hundred day simple moving average is $10.25. Utz Brands has a 1-year low of $6.78 and a 1-year high of $14.33. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.06 and a quick ratio of 0.69.

Utz Brands (NYSE:UTZ) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.18 by $0.01. The firm had revenue of $371.80 million during the quarter, compared to analysts’ expectations of $374.18 million. Utz Brands had a positive return on equity of 8.97% and a negative net margin of 2.00%.The business’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.17 earnings per share. Analysts expect that Utz Brands will post 0.8 EPS for the current fiscal year.

Utz Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Monday, September 21st were issued a dividend of $0.0630 per share. This represents a $0.25 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Monday, September 21st. Utz Brands’s payout ratio is -75.76%.

About Utz Brands

Utz Brands, Inc is a U.S.-based manufacturer and distributor of branded snack foods. The company produces and markets potato chips, tortilla chips, cheese snacks, pretzels, popcorn, pork snacks, and other salty snacks through a portfolio of brands that includes Utz, Zapp’s, Boulder Canyon, Golden Flake, Bachman, and Tim’s Cascade Snacks.

Utz products are sold through grocery stores, mass merchants, club stores, convenience stores, drugstores, and e-commerce channels. The company serves consumers primarily in the United States and distributes its snacks through a combination of direct-store delivery, warehouse distribution, and third-party arrangements.

Founded in 1921 by William and Salie Utz in Hanover, Pennsylvania, the company has expanded through organic growth and acquisitions of established regional snack businesses.