Utz Brands (NYSE:UTZ) Reaches New 12-Month Low – Time to Sell?

Utz Brands, Inc. (NYSE:UTZ) hit a new 52-week low on Tuesday . The company traded as low as $13.37 and last traded at $13.94, with a volume of 1296538 shares changing hands. The stock had previously closed at $13.44.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Piper Sandler upped their price target on Utz Brands from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Mizuho lowered their price target on Utz Brands from $24.00 to $21.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Finally, TD Cowen dropped their price target on shares of Utz Brands from $21.00 to $17.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $20.80.

Utz Brands Stock Up 1.8 %

The company has a market cap of $1.95 billion, a PE ratio of -72.89, a PEG ratio of 1.18 and a beta of 1.03. The company has a quick ratio of 0.85, a current ratio of 1.21 and a debt-to-equity ratio of 0.56. The company’s fifty day moving average is $16.30 and its 200-day moving average is $16.59.

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

Utz Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th were paid a $0.061 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $0.24 annualized dividend and a dividend yield of 1.76%. This is an increase from Utz Brands’s previous quarterly dividend of $0.06. Utz Brands’s dividend payout ratio (DPR) is -126.32%.

Insider Buying and Selling

In related news, EVP Cary Devore sold 30,000 shares of Utz Brands stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $17.32, for a total transaction of $519,600.00. Following the sale, the executive vice president now owns 451,117 shares of the company’s stock, valued at approximately $7,813,346.44. This trade represents a 6.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Cc Collier Holdings, Llc sold 2,815,404 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $17.29, for a total value of $48,678,335.16. Following the completion of the transaction, the insider now owns 496,038 shares of the company’s stock, valued at $8,576,497.02. The trade was a 85.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Utz Brands

Several hedge funds have recently modified their holdings of UTZ. Rhumbline Advisers increased its holdings in Utz Brands by 3.6% in the 2nd quarter. Rhumbline Advisers now owns 99,286 shares of the company’s stock valued at $1,652,000 after acquiring an additional 3,466 shares during the last quarter. Choreo LLC purchased a new stake in shares of Utz Brands in the second quarter worth about $195,000. American Century Companies Inc. lifted its position in shares of Utz Brands by 10.9% in the second quarter. American Century Companies Inc. now owns 81,441 shares of the company’s stock worth $1,355,000 after buying an additional 7,981 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Utz Brands by 2.1% during the second quarter. Envestnet Asset Management Inc. now owns 696,019 shares of the company’s stock valued at $11,582,000 after buying an additional 14,647 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Utz Brands during the 2nd quarter valued at approximately $890,000. 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.