Utz Brands, Inc. (NYSE:UTZ) Receives $20.00 Consensus PT from Brokerages

Utz Brands, Inc. (NYSE:UTZ) has been assigned an average recommendation of “Moderate Buy” from the ten brokerages that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $20.00.

Several analysts recently commented on UTZ shares. Barclays decreased their target price on shares of Utz Brands from $19.00 to $17.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Piper Sandler decreased their price objective on shares of Utz Brands from $24.00 to $20.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. TD Cowen dropped their target price on shares of Utz Brands from $21.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Finally, Mizuho decreased their price target on Utz Brands from $21.00 to $19.00 and set an “outperform” rating for the company in a report on Monday, February 10th.

Utz Brands Trading Up 2.2 %

Shares of UTZ stock opened at $13.47 on Thursday. Utz Brands has a 1-year low of $12.71 and a 1-year high of $20.04. The company has a current ratio of 1.21, a quick ratio of 0.85 and a debt-to-equity ratio of 0.56. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of -70.87, a PEG ratio of 0.86 and a beta of 1.01. The stock has a 50-day moving average of $14.49 and a 200-day moving average of $16.23.

Utz Brands Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th were paid a $0.061 dividend. This is an increase from Utz Brands’s previous quarterly dividend of $0.06. This represents a $0.24 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend was Monday, December 16th. Utz Brands’s payout ratio is -126.32%.

Institutional Trading of Utz Brands

Several large investors have recently made changes to their positions in UTZ. Truist Financial Corp raised its stake in Utz Brands by 20.8% during the 2nd quarter. Truist Financial Corp now owns 24,209 shares of the company’s stock worth $403,000 after buying an additional 4,176 shares during the period. SG Americas Securities LLC raised its position in shares of Utz Brands by 279.2% during the third quarter. SG Americas Securities LLC now owns 23,510 shares of the company’s stock worth $416,000 after purchasing an additional 17,310 shares during the period. nVerses Capital LLC bought a new position in shares of Utz Brands in the 3rd quarter worth $142,000. Legacy Wealth Asset Management LLC lifted its holdings in shares of Utz Brands by 11.6% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 40,176 shares of the company’s stock worth $711,000 after purchasing an additional 4,182 shares in the last quarter. Finally, Smith Group Asset Management LLC grew its position in Utz Brands by 24.2% in the 3rd quarter. Smith Group Asset Management LLC now owns 27,093 shares of the company’s stock valued at $480,000 after purchasing an additional 5,278 shares during the period. 95.97% of the stock is currently owned by institutional investors and hedge funds.

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.