Utz Brands (NYSE:UTZ) Issues Earnings Results, Beats Expectations By $0.01 EPS

Utz Brands (NYSE:UTZ) released its quarterly earnings results on Thursday. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.01, Briefing.com reports. The firm had revenue of $346.50 million for the quarter, compared to the consensus estimate of $346.99 million. Utz Brands had a negative net margin of 1.38% and a positive return on equity of 6.13%. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.11 EPS.

Utz Brands Stock Performance

UTZ stock opened at $19.24 on Friday. The company has a 50-day simple moving average of $18.01 and a 200 day simple moving average of $16.16. The company has a market capitalization of $2.71 billion, a P/E ratio of -76.96, a PEG ratio of 1.70 and a beta of 0.97. The company has a quick ratio of 0.97, a current ratio of 1.42 and a debt-to-equity ratio of 0.65. Utz Brands has a fifty-two week low of $11.17 and a fifty-two week high of $20.04.

Utz Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 2nd. Investors of record on Monday, April 15th were paid a dividend of $0.059 per share. This is a boost from Utz Brands’s previous quarterly dividend of $0.06. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date was Friday, April 12th. Utz Brands’s payout ratio is currently -96.00%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on UTZ. Mizuho lifted their target price on Utz Brands from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday. Bank of America upgraded Utz Brands from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $19.00 to $22.00 in a research note on Thursday, March 14th. Truist Financial boosted their target price on shares of Utz Brands from $13.00 to $17.00 and gave the company a “hold” rating in a research note on Monday, March 4th. Royal Bank of Canada upped their target price on Utz Brands from $19.00 to $23.00 and gave the company an “outperform” rating in a report on Friday. Finally, Piper Sandler increased their price target on Utz Brands from $18.00 to $21.00 and gave the stock an “overweight” rating in a research report on Friday, March 1st. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Utz Brands has an average rating of “Moderate Buy” and an average target price of $19.83.

Insider Buying and Selling at Utz Brands

In other news, Director Roger K. Deromedi sold 3,785 shares of Utz Brands stock in a transaction on Monday, February 26th. The stock was sold at an average price of $19.13, for a total transaction of $72,407.05. Following the transaction, the director now directly owns 3,399,470 shares in the company, valued at approximately $65,031,861.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Utz Brands news, Director Roger K. Deromedi sold 3,785 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $19.13, for a total value of $72,407.05. Following the completion of the sale, the director now directly owns 3,399,470 shares of the company’s stock, valued at approximately $65,031,861.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Series U. Of Um Partners, Llc sold 446,250 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $17.40, for a total transaction of $7,764,750.00. Following the transaction, the insider now owns 397,885 shares of the company’s stock, valued at approximately $6,923,199. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 609,181 shares of company stock valued at $10,754,925. 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.