Utz Brands, Inc. (NYSE:UTZ – Get Free Report) announced a dividend on Thursday, September 5th, NASDAQ reports. Stockholders of record on Monday, September 16th will be given a dividend of 0.011 per share on Thursday, October 3rd. The ex-dividend date is Monday, September 16th.
Utz Brands has raised its dividend by an average of 27.5% per year over the last three years. Utz Brands has a dividend payout ratio of 28.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Utz Brands to earn $0.85 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 28.2%.
Utz Brands Stock Up 0.4 %
Shares of UTZ stock traded up $0.07 on Friday, reaching $17.70. 585,893 shares of the company’s stock traded hands, compared to its average volume of 792,728. The business’s 50 day moving average price is $16.23 and its two-hundred day moving average price is $17.44. The company has a market capitalization of $2.49 billion, a P/E ratio of -70.48, a price-to-earnings-growth ratio of 1.17 and a beta of 1.01. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.21 and a current ratio of 1.69. Utz Brands has a 12-month low of $11.17 and a 12-month high of $20.04.
Wall Street Analyst Weigh In
Several equities analysts have commented on UTZ shares. Piper Sandler reissued an “overweight” rating and set a $22.00 target price on shares of Utz Brands in a research report on Wednesday, August 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $22.00 target price on shares of Utz Brands in a research report on Friday, August 2nd. Finally, Barclays dropped their price target on shares of Utz Brands from $23.00 to $19.00 and set an “overweight” rating on the stock in a research report on Friday, July 19th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Utz Brands presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.17.
Get Our Latest Stock Analysis on Utz Brands
Insider Buying and Selling
In related news, Director Bruce John Lindeman bought 4,000 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was acquired at an average cost of $16.11 per share, with a total value of $64,440.00. Following the acquisition, the director now owns 42,480 shares in the company, valued at approximately $684,352.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 17.00% 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.
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