Utz Brands (NYSE:UTZ) Stock Price Down 4%

Utz Brands, Inc. (NYSE:UTZ)’s stock price dropped 4% on Monday . The company traded as low as $17.79 and last traded at $17.86. Approximately 195,235 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 773,991 shares. The stock had previously closed at $18.61.

Wall Street Analysts Forecast Growth

UTZ has been the subject of a number of recent analyst reports. DA Davidson initiated coverage on Utz Brands in a research report on Friday, March 1st. They issued a “neutral” rating and a $20.00 price target for the company. Piper Sandler increased their price objective on Utz Brands from $18.00 to $21.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st. Mizuho increased their price objective on Utz Brands from $19.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Truist Financial increased their price objective on Utz Brands from $13.00 to $17.00 and gave the stock a “hold” rating in a research note on Monday, March 4th. Finally, Needham & Company LLC raised their price target on Utz Brands from $20.00 to $20.50 and gave the stock a “buy” rating in a research note on Friday, March 1st. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $18.63.

Utz Brands Trading Down 2.7 %

The company has a fifty day moving average price of $18.05 and a two-hundred day moving average price of $15.98. The company has a current ratio of 1.42, a quick ratio of 0.97 and a debt-to-equity ratio of 0.65.

Utz Brands (NYSE:UTZ) last announced its quarterly earnings data on Thursday, February 29th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.01). Utz Brands had a positive return on equity of 6.08% and a negative net margin of 1.73%. The firm had revenue of $352.10 million for the quarter, compared to analyst estimates of $354.63 million. During the same period in the previous year, the business posted $0.15 EPS. Utz Brands’s revenue for the quarter was down .7% compared to the same quarter last year. Research analysts expect that Utz Brands, Inc. will post 0.68 EPS for the current year.

Utz Brands Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 2nd. Investors of record on Monday, April 15th will be paid a $0.059 dividend. This is a positive change from Utz Brands’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Friday, April 12th. This represents a $0.24 annualized dividend and a yield of 1.30%. Utz Brands’s payout ratio is currently -77.42%.

Insider Activity at Utz Brands

In related news, major shareholder Chinh Chu sold 92,226 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $17.80, for a total value of $1,641,622.80. Following the sale, the insider now owns 3,556,154 shares of the company’s stock, valued at approximately $63,299,541.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, major shareholder Series U. Of Um Partners, Llc sold 446,250 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $17.40, for a total value of $7,764,750.00. Following the sale, the insider now owns 397,885 shares of the company’s stock, valued at approximately $6,923,199. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Chinh Chu sold 92,226 shares of Utz Brands stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $17.80, for a total value of $1,641,622.80. Following the completion of the transaction, the insider now owns 3,556,154 shares of the company’s stock, valued at approximately $63,299,541.20. The disclosure for this sale can be found here. Insiders have sold a total of 609,181 shares of company stock valued at $10,754,925 in the last 90 days. 17.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Utz Brands

Institutional investors have recently bought and sold shares of the business. SRS Capital Advisors Inc. raised its position in Utz Brands by 120.2% in the 4th quarter. SRS Capital Advisors Inc. now owns 3,464 shares of the company’s stock valued at $56,000 after purchasing an additional 1,891 shares during the last quarter. Delta Asset Management LLC TN raised its position in Utz Brands by 100.0% in the 4th quarter. Delta Asset Management LLC TN now owns 5,000 shares of the company’s stock valued at $81,000 after purchasing an additional 2,500 shares during the last quarter. International Assets Investment Management LLC raised its position in Utz Brands by 1,428.8% in the 4th quarter. International Assets Investment Management LLC now owns 5,473 shares of the company’s stock valued at $89,000 after purchasing an additional 5,115 shares during the last quarter. Parallel Advisors LLC raised its position in Utz Brands by 11.6% in the 4th quarter. Parallel Advisors LLC now owns 9,924 shares of the company’s stock valued at $161,000 after purchasing an additional 1,033 shares during the last quarter. Finally, Sherbrooke Park Advisers LLC bought a new position in Utz Brands in the 3rd quarter valued at $136,000. Institutional investors 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.