Roger K. Deromedi Sells 66,027 Shares of Utz Brands, Inc. (NYSE:UTZ) Stock

Utz Brands, Inc. (NYSE:UTZ) Director Roger K. Deromedi sold 66,027 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $19.45, for a total transaction of $1,284,225.15. Following the completion of the sale, the director now directly owns 2,315,693 shares in the company, valued at $45,040,228.85. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Utz Brands Stock Performance

UTZ traded up $0.02 on Monday, reaching $19.26. The company had a trading volume of 1,360,002 shares, compared to its average volume of 819,812. Utz Brands, Inc. has a fifty-two week low of $11.17 and a fifty-two week high of $20.04. The stock has a market cap of $2.71 billion, a P/E ratio of -76.88, a P/E/G ratio of 1.32 and a beta of 0.97. The company’s fifty day moving average is $18.01 and its 200 day moving average is $16.22. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.95 and a current ratio of 1.40.

Utz Brands (NYSE:UTZ) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. The firm had revenue of $346.50 million during 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 6.16%. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.11 EPS. As a group, analysts predict that Utz Brands, Inc. will post 0.72 earnings per share for the current fiscal year.

Utz Brands Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 2nd. Stockholders of record on Monday, April 15th were issued a dividend of $0.059 per share. 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. This is an increase from Utz Brands’s previous quarterly dividend of $0.06. Utz Brands’s dividend payout ratio is -96.00%.

Institutional Trading of Utz Brands

Institutional investors and hedge funds have recently made changes to their positions in the company. SRS Capital Advisors Inc. lifted its holdings in shares of Utz Brands by 120.2% during the 4th quarter. SRS Capital Advisors Inc. now owns 3,464 shares of the company’s stock worth $56,000 after acquiring an additional 1,891 shares during the period. Delta Asset Management LLC TN boosted its holdings in shares of Utz Brands by 100.0% during the 4th quarter. Delta Asset Management LLC TN now owns 5,000 shares of the company’s stock valued at $81,000 after acquiring an additional 2,500 shares in the last quarter. International Assets Investment Management LLC grew its position in Utz Brands by 1,428.8% during the 4th quarter. International Assets Investment Management LLC now owns 5,473 shares of the company’s stock worth $89,000 after acquiring an additional 5,115 shares during the last quarter. Sherbrooke Park Advisers LLC bought a new position in Utz Brands in the third quarter valued at about $136,000. Finally, Parallel Advisors LLC boosted its stake in shares of Utz Brands by 11.6% during the fourth 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 in the last quarter. Institutional investors own 95.97% of the company’s stock.

Analysts Set New Price Targets

UTZ has been the topic of several research reports. Mizuho boosted their price objective on shares of Utz Brands from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Friday. Royal Bank of Canada lifted their price target on shares of Utz Brands from $19.00 to $23.00 and gave the company an “outperform” rating in a research note on Friday. Stephens lifted their price target on shares of Utz Brands from $21.00 to $23.00 and gave the company an “overweight” rating in a research note on Friday. Truist Financial lifted their price target 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. Finally, DA Davidson began coverage on shares of Utz Brands in a research note on Friday, March 1st. They issued a “neutral” rating and a $20.00 price target on the stock. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $20.42.

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.