Utz Brands (NYSE:UTZ) Price Target Cut to $17.00 by Analysts at Barclays

Utz Brands (NYSE:UTZ) had its price objective cut by Barclays from $19.00 to $17.00 in a report released on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other analysts also recently issued reports on UTZ. TD Cowen dropped their target price on shares of Utz Brands from $21.00 to $17.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Piper Sandler dropped their target price 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. Finally, Mizuho dropped their target price on shares of Utz Brands from $24.00 to $21.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $20.20.

Utz Brands Price Performance

Utz Brands stock opened at $14.26 on Friday. The firm has a market capitalization of $2.01 billion, a PE ratio of -75.07, a P/E/G ratio of 0.86 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 firm’s 50-day simple moving average is $16.15 and its 200 day simple moving average is $16.55. Utz Brands has a 52 week low of $13.36 and a 52 week high of $20.04.

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

Utz Brands Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th were given a dividend of $0.061 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.71%. This is an increase from Utz Brands’s previous quarterly dividend of $0.06. Utz Brands’s dividend payout ratio (DPR) is presently -126.32%.

Insider Transactions at Utz Brands

In other news, insider Cc Collier Holdings, Llc sold 2,815,404 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $17.29, for a total transaction of $48,678,335.16. Following the completion of the sale, the insider now owns 496,038 shares of the company’s stock, valued at approximately $8,576,497.02. This trade represents a 85.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Cary Devore sold 30,000 shares of the firm’s 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 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 disclosure for this sale can be found here. Corporate insiders own 17.00% of the company’s stock.

Hedge Funds Weigh In On Utz Brands

Large investors have recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board bought a new position in Utz Brands during the second quarter worth $80,000. nVerses Capital LLC bought a new position in Utz Brands during the third quarter worth $142,000. Moody National Bank Trust Division bought a new position in Utz Brands during the fourth quarter worth $169,000. XTX Topco Ltd bought a new position in Utz Brands during the second quarter worth $185,000. Finally, MQS Management LLC bought a new position in Utz Brands during the second quarter worth $187,000. 95.97% of the stock is currently owned by institutional investors.

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.