Utz Brands, Inc. (NYSE:UTZ) Declares $0.06 Quarterly Dividend

Key Points

• Utz Brands declared a quarterly dividend of $0.063 per share, payable October 1 to shareholders of record on September 21. The annualized dividend is approximately $0.25 per share, with a 1.8% yield.
• The dividend appears financially supported, with a 26.0% payout ratio and analysts projecting $0.86 in earnings per share next year, implying an expected payout ratio of 29.1%.
• Analyst sentiment is largely neutral: nine analysts rate the stock Hold, one rates it Buy, and one rates it Sell, with a consensus price target of $13.39 versus the reported share price of $14.23.

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

Utz Brands has raised its dividend by an average of 0.2%per year over the last three years and has increased its dividend every year for the last 3 years. Utz Brands has a dividend payout ratio of 26.0% indicating that its dividend is sufficiently covered by earnings. 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 Stock Up 0.1%

Shares of Utz Brands stock opened at $14.23 on Friday. 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 has a 52-week low of $6.78 and a 52-week high of $14.27. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of -43.14 and a beta of 0.76. The company's 50 day moving average price is $12.62 and its 200-day moving average price is $9.42.

Utz Brands (NYSE:UTZ - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.19 EPS for the quarter, beating analysts' consensus estimates of $0.18 by $0.01. The company had revenue of $371.80 million during the quarter, compared to analyst estimates of $374.18 million. Utz Brands had a negative net margin of 2.00% and a positive return on equity of 8.97%. The firm's revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.17 EPS. Equities research analysts forecast that Utz Brands will post 0.8 EPS for the current year.

Wall Street Analysts Forecast Growth

UTZ has been the subject of a number of analyst reports. Wall Street Zen lowered shares of Utz Brands from a "hold" rating to a "sell" rating in a report on Saturday, July 25th. Stephens set a $14.25 price target on Utz Brands in a research report on Tuesday, July 21st. BTIG Research cut Utz Brands from a "buy" rating to a "hold" rating in a report on Monday, July 27th. Jefferies Financial Group lowered Utz Brands from a "strong-buy" rating to a "hold" rating and set a $14.25 price objective on the stock. in a research report on Tuesday, July 21st. Finally, DA Davidson reissued a "neutral" rating and set a $14.25 target price (down from $15.00) on shares of Utz Brands in a research note on Wednesday, July 22nd. One equities research analyst has rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company 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.

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