Utz Brands (NYSE:UTZ) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Utz Brands (NYSE:UTZ) issued its quarterly earnings data on Thursday. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01, Briefing.com reports. The business had revenue of $346.50 million for the quarter, compared to analyst estimates of $346.99 million. Utz Brands had a negative net margin of 1.73% and a positive return on equity of 6.08%. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period last year, the business posted $0.11 earnings per share.

Utz Brands Stock Performance

NYSE:UTZ traded down $0.31 during mid-day trading on Friday, hitting $19.24. The stock had a trading volume of 1,167,463 shares, compared to its average volume of 813,531. Utz Brands has a twelve month low of $11.17 and a twelve month high of $20.04. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.97 and a current ratio of 1.42. The stock has a market cap of $2.71 billion, a price-to-earnings ratio of -62.06, a PEG ratio of 1.63 and a beta of 0.97. The company’s 50 day simple moving average is $18.01 and its 200 day simple moving average is $16.11.

Utz Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 2nd. Stockholders of record on Monday, April 15th were paid a dividend of $0.059 per share. The ex-dividend date of this dividend was Friday, April 12th. This is a positive change from Utz Brands’s previous quarterly dividend of $0.06. This represents a $0.24 annualized dividend and a dividend yield of 1.23%. Utz Brands’s payout ratio is currently -77.42%.

Insider Buying and Selling

In other news, major shareholder Chinh Chu sold 92,226 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $17.80, for a total value of $1,641,622.80. Following the completion of the sale, the insider now directly owns 3,556,154 shares of the company’s stock, valued at $63,299,541.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, major shareholder Chinh Chu sold 92,226 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were 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 approximately $63,299,541.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Roger K. Deromedi sold 3,785 shares of Utz Brands stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $19.13, for a total transaction of $72,407.05. Following the sale, the director now directly owns 3,399,470 shares of the company’s stock, valued at approximately $65,031,861.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 609,181 shares of company stock worth $10,754,925. Company insiders own 17.00% of the company’s stock.

Wall Street Analysts Forecast Growth

UTZ has been the topic of several recent research reports. Needham & Company LLC lifted their price target on Utz Brands from $20.50 to $22.00 and gave the company a “buy” rating in a research note on Friday. Mizuho boosted their target price on Utz Brands from $22.00 to $24.00 and gave the company a “buy” rating in a research note on Friday. Royal Bank of Canada raised their price target on shares of Utz Brands from $19.00 to $23.00 and gave the stock an “outperform” rating in a research note on Friday. Stephens boosted their price objective on shares of Utz Brands from $21.00 to $23.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Truist Financial increased their target price on shares of Utz Brands from $13.00 to $17.00 and gave the stock a “hold” rating in a report on Monday, March 4th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $19.83.

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.