Utz Brands (NYSE:UTZ) Given New $24.00 Price Target at Mizuho

Utz Brands (NYSE:UTZ) had its price objective hoisted by Mizuho from $22.00 to $24.00 in a research note published on Friday, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also issued reports on UTZ. 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 report on Friday, March 1st. Needham & Company LLC lifted their price objective on shares of Utz Brands from $20.50 to $22.00 and gave the company a buy rating in a report on Friday. 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. DA Davidson began coverage on shares of Utz Brands in a research note on Friday, March 1st. They issued a neutral rating and a $20.00 price target on the stock. Finally, Bank of America upgraded shares of Utz Brands from a neutral rating to a buy rating and increased their price objective for the stock from $19.00 to $22.00 in a research note on Thursday, March 14th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $19.83.

Utz Brands Stock Down 1.6 %

NYSE UTZ traded down $0.31 during trading hours on Friday, reaching $19.24. 1,167,470 shares of the company’s stock were exchanged, compared to its average volume of 745,232. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.97 and a current ratio of 1.42. Utz Brands has a one year low of $11.17 and a one year high of $20.04. The company’s 50-day moving average is $18.01 and its two-hundred day moving average is $16.16. The company has a market capitalization of $2.71 billion, a price-to-earnings ratio of -76.96, a price-to-earnings-growth ratio of 1.72 and a beta of 0.97.

Utz Brands (NYSE:UTZ) last posted 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. The business had revenue of $346.50 million for the quarter, compared to analysts’ expectations of $346.99 million. Utz Brands had a negative net margin of 1.38% and a positive return on equity of 6.13%. The firm’s revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.11 EPS. On average, analysts forecast that Utz Brands will post 0.69 EPS for the current fiscal year.

Utz Brands Increases Dividend

The firm also recently announced 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. This is an increase from Utz Brands’s previous quarterly dividend of $0.06. This represents a $0.24 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend was Friday, April 12th. Utz Brands’s payout ratio is currently -96.00%.

Insider Buying and Selling

In other Utz Brands news, Director Roger K. Deromedi sold 3,785 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $19.13, for a total transaction of $72,407.05. Following the completion of the sale, the director now owns 3,399,470 shares of the company’s stock, valued at approximately $65,031,861.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Roger K. Deromedi sold 3,785 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $19.13, for a total transaction of $72,407.05. Following the completion of the sale, the director now owns 3,399,470 shares in the company, valued at $65,031,861.10. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Series U. Of Um Partners, Llc sold 446,250 shares of Utz Brands stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $17.40, for a total value of $7,764,750.00. Following the sale, the insider now directly owns 397,885 shares of the company’s stock, valued at $6,923,199. The disclosure for this sale can be found here. In the last three months, insiders have sold 609,181 shares of company stock valued at $10,754,925. 17.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Utz Brands

A number of hedge funds have recently bought and sold shares of UTZ. Vanguard Group Inc. grew its position in shares of Utz Brands by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 6,780,350 shares of the company’s stock worth $110,113,000 after purchasing an additional 22,908 shares in the last quarter. Copeland Capital Management LLC boosted its stake in shares of Utz Brands by 7.2% in the fourth quarter. Copeland Capital Management LLC now owns 2,952,337 shares of the company’s stock valued at $47,946,000 after buying an additional 199,472 shares during the period. Jennison Associates LLC grew its position in Utz Brands by 15.2% during the first quarter. Jennison Associates LLC now owns 1,331,581 shares of the company’s stock worth $24,554,000 after buying an additional 175,956 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Utz Brands by 26.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,212,493 shares of the company’s stock worth $19,691,000 after acquiring an additional 250,557 shares during the period. Finally, Emerald Advisers LLC raised its holdings in Utz Brands by 15.8% in the 3rd quarter. Emerald Advisers LLC now owns 929,896 shares of the company’s stock valued at $12,488,000 after acquiring an additional 126,948 shares in the last quarter. 95.97% of the stock is owned by institutional investors.

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.