Utz Brands, Inc. (UTZ) to Issue Quarterly Dividend of $0.06 on October 1st

Utz Brands, Inc. (NYSE:UTZ) announced a quarterly dividend on Thursday, September 10th. Stockholders of record on Monday, September 21st will be paid a dividend of 0.063 per share on Thursday, October 1st. This represents a c) annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Monday, September 21st.

Utz Brands has raised its dividend payment by an average of 0.2%annually over the last three years and has increased its dividend every year for the last 3 years. Utz Brands has a payout ratio of 26.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Utz Brands to earn $0.86 per share next year, which means the company should continue to be able to cover its $0.25 annual dividend with an expected future payout ratio of 29.1%.

Utz Brands Price Performance

NYSE:UTZ opened at $14.27 on Friday. Utz Brands has a 52 week low of $6.78 and a 52 week high of $14.28. The company has a market capitalization of $2.05 billion, a price-to-earnings ratio of -43.23 and a beta of 0.76. The company has a 50-day moving average of $12.74 and a 200-day moving average of $9.45. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.69 and a current ratio of 1.06.

Utz Brands (NYSE:UTZ) last posted its earnings results on Wednesday, August 5th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.18 by $0.01. The business had revenue of $371.80 million during the quarter, compared to the consensus estimate of $374.18 million. Utz Brands had a positive return on equity of 8.97% and a negative net margin of 2.00%.Utz Brands’s revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the company earned $0.17 EPS. As a group, equities research analysts anticipate that Utz Brands will post 0.8 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Piper Sandler restated a “neutral” rating and set a $14.25 target price (up from $10.00) on shares of Utz Brands in a research report on Thursday, July 23rd. BTIG Research downgraded shares of Utz Brands from a “buy” rating to a “hold” rating in a research note on Monday, July 27th. Wall Street Zen lowered shares of Utz Brands from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. Barclays cut shares of Utz Brands from an “overweight” rating to an “equal weight” rating and set a $14.00 price objective on the stock. in a research note on Tuesday, July 21st. Finally, Stephens set a $14.25 price target on Utz Brands in a research note on Tuesday, July 21st. One investment analyst has rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $13.39.

Utz Brands Company Profile

Utz Brands, Inc is a leading U.S. manufacturer and distributor of salty snack foods, offering a wide range of products including potato chips, pretzels, cheese snacks, popcorn and tortilla chips. Headquartered in Hanover, Pennsylvania, the company markets its snacks under several well-known brands and serves grocery, mass merchandise, club, convenience and online retailers throughout the United States.

Founded in 1921 by Bill and Salie Utz as a small country store operation, the business expanded gradually through direct delivery to local customers and sales to regional grocers.