Utz Brands, Inc. (NYSE:UTZ) Plans Quarterly Dividend of $0.06

Utz Brands, Inc. (NYSE:UTZ) announced a quarterly dividend on Thursday, December 5th,Wall Street Journal reports. Shareholders of record on Monday, December 16th will be given a dividend of 0.061 per share on Thursday, January 2nd. This represents a $0.24 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend is Monday, December 16th. This is a positive change from Utz Brands’s previous quarterly dividend of $0.06.

Utz Brands has increased its dividend by an average of 27.5% per year over the last three years. Utz Brands has a dividend payout ratio of 28.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Utz Brands to earn $0.83 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 28.9%.

Utz Brands Price Performance

UTZ stock opened at $17.74 on Friday. Utz Brands has a 1 year low of $14.17 and a 1 year high of $20.04. The firm has a market capitalization of $2.50 billion, a PE ratio of -93.37, a price-to-earnings-growth ratio of 1.18 and a beta of 1.01. 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 business has a 50 day simple moving average of $17.06 and a 200-day simple moving average of $16.99.

Utz Brands (NYSE:UTZ) last issued its earnings results on Thursday, October 31st. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. The business had revenue of $365.50 million during the quarter, compared to the consensus estimate of $363.98 million. Utz Brands had a positive return on equity of 7.25% and a negative net margin of 0.99%. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period last year, the company earned $0.17 EPS. Equities research analysts anticipate that Utz Brands will post 0.74 earnings per share for the current fiscal year.

Insider Transactions at Utz Brands

In other Utz Brands news, EVP Cary Devore sold 30,000 shares of Utz Brands stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $17.32, for a total value of $519,600.00. Following the completion of the transaction, the executive vice president now directly owns 451,117 shares of the company’s stock, valued at $7,813,346.44. The trade was a 6.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Cc Collier Holdings, Llc sold 2,815,404 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $17.29, for a total transaction of $48,678,335.16. Following the sale, the insider now owns 496,038 shares in the company, valued at $8,576,497.02. This trade represents a 85.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 17.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on UTZ shares. Mizuho reduced their target price on shares of Utz Brands from $24.00 to $21.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. Piper Sandler lifted their price target on shares of Utz Brands from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.22.

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.