Utz Brands, Inc. (NYSE:UTZ) to Issue $0.01 Quarterly Dividend

Utz Brands, Inc. (NYSE:UTZ) announced a quarterly dividend on Thursday, March 27th, RTT News reports. Investors of record on Monday, April 7th will be paid a dividend of 0.011 per share on Thursday, April 24th. This represents a $0.04 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date of this dividend is Monday, April 7th.

Utz Brands has raised its dividend payment by an average of 5.3% annually over the last three years. Utz Brands has a dividend payout ratio of 25.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Utz Brands to earn $0.92 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 26.1%.

Utz Brands Price Performance

Shares of UTZ opened at $14.12 on Friday. The stock has a market capitalization of $2.00 billion, a P/E ratio of 78.42, a P/E/G ratio of 0.86 and a beta of 1.10. Utz Brands has a twelve month low of $12.71 and a twelve month high of $20.04. The company has a 50 day moving average of $13.70 and a 200-day moving average of $15.50. 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 (NYSE:UTZ) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.03. Utz Brands had a return on equity of 7.92% and a net margin of 1.13%. The company had revenue of $341.05 million for the quarter, compared to analysts’ expectations of $349.93 million. During the same quarter in the prior year, the business posted $0.16 EPS. As a group, equities research analysts forecast that Utz Brands will post 0.85 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently commented on UTZ. Piper Sandler lowered their price target on shares of Utz Brands from $24.00 to $20.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. TD Cowen cut their price target on Utz Brands from $21.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Royal Bank of Canada lowered their price objective on Utz Brands from $23.00 to $20.00 and set an “outperform” rating on the stock in a research note on Monday, February 24th. Barclays cut their target price on Utz Brands from $19.00 to $17.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Finally, Mizuho reduced their target price on Utz Brands from $21.00 to $19.00 and set an “outperform” rating on the stock in a report on Monday, February 10th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Utz Brands currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.25.

Insider Buying and Selling

In other news, insider Cc Collier Holdings, Llc sold 496,038 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $13.40, for a total transaction of $6,646,909.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Howard A. Friedman acquired 3,525 shares of the stock in a transaction on Monday, February 24th. The shares were acquired at an average price of $14.16 per share, for a total transaction of $49,914.00. Following the acquisition, the chief executive officer now owns 265,729 shares of the company’s stock, valued at approximately $3,762,722.64. The trade was a 1.34 % increase in their position. The disclosure for this purchase can be found here. 16.32% of the stock is owned by corporate insiders.

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.