Mizuho Has Lowered Expectations for Utz Brands (NYSE:UTZ) Stock Price

Utz Brands (NYSE:UTZ) had its price objective lowered by Mizuho from $24.00 to $21.00 in a research report released on Monday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

UTZ has been the subject of a number of other research reports. Piper Sandler raised their price objective on shares of Utz Brands from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Friday. Barclays decreased their price target on shares of Utz Brands from $23.00 to $19.00 and set an “overweight” rating for the company in a research report on Friday, July 19th. Finally, Needham & Company LLC restated a “buy” rating and issued a $22.00 price objective on shares of Utz Brands in a report on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Utz Brands currently has an average rating of “Moderate Buy” and an average price target of $20.80.

Utz Brands Trading Down 0.1 %

NYSE UTZ opened at $17.34 on Monday. The firm’s fifty day moving average price is $17.31 and its two-hundred day moving average price is $17.24. The company has a quick ratio of 0.85, a current ratio of 1.21 and a debt-to-equity ratio of 0.56. Utz Brands has a fifty-two week low of $11.67 and a fifty-two week high of $20.04.

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 analysts’ consensus estimates of $0.20 by $0.01. The business had revenue of $365.50 million for the quarter, compared to analyst estimates of $363.98 million. Utz Brands had a positive return on equity of 7.25% and a negative net margin of 0.99%. Utz Brands’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.17 EPS. As a group, sell-side analysts forecast that Utz Brands will post 0.74 earnings per share for the current year.

Utz Brands Announces Dividend

The company also recently announced a None dividend, which was paid on Thursday, October 3rd. Investors of record on Monday, September 16th were issued a $0.011 dividend. The ex-dividend date was Monday, September 16th. This represents a yield of 1.3%. Utz Brands’s payout ratio is -126.32%.

Insider Buying and Selling at Utz Brands

In other 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 approximately $7,813,346.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 17.00% of the company’s stock.

Institutional Trading of Utz Brands

Large investors have recently modified their holdings of the stock. Jennison Associates LLC boosted its stake 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 acquiring an additional 175,956 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Utz Brands by 22.0% in the 2nd quarter. Victory Capital Management Inc. now owns 1,238,425 shares of the company’s stock valued at $20,607,000 after buying an additional 223,462 shares during the period. Clearbridge Investments LLC increased its position in Utz Brands by 2.2% in the 1st quarter. Clearbridge Investments LLC now owns 874,124 shares of the company’s stock valued at $16,119,000 after buying an additional 18,786 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in Utz Brands by 2.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 696,019 shares of the company’s stock worth $11,582,000 after buying an additional 14,647 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Utz Brands by 2.6% in the second quarter. Bank of New York Mellon Corp now owns 446,918 shares of the company’s stock worth $7,437,000 after acquiring an additional 11,492 shares in the last quarter. Institutional investors and hedge funds 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.