Utz Brands (NYSE:UTZ) Price Target Raised to $23.00

Utz Brands (NYSE:UTZ - Free Report) had its target price hoisted by Barclays from $20.00 to $23.00 in a research note published on Monday morning, Benzinga reports. They currently have an overweight rating on the stock.

UTZ has been the subject of several other reports. Piper Sandler upped 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. Needham & Company LLC raised their target price on shares of Utz Brands from $20.50 to $22.00 and gave the company a buy rating in a research note on Friday. Bank of America raised shares of Utz Brands from a neutral rating to a buy rating and lifted their price objective for the company from $19.00 to $22.00 in a report on Thursday, March 14th. DA Davidson initiated coverage on shares of Utz Brands in a report on Friday, March 1st. They issued a neutral rating and a $20.00 target price on the stock. Finally, Truist Financial upped their price objective on shares of Utz Brands from $13.00 to $17.00 and gave the stock a hold rating in a report on Monday, March 4th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $20.42.

Utz Brands Trading Up 0.1 %

NYSE UTZ traded up $0.02 on Monday, hitting $19.26. The company's stock had a trading volume of 1,660,120 shares, compared to its average volume of 823,261. The firm has a market cap of $2.71 billion, a PE ratio of -77.04, a PEG ratio of 1.32 and a beta of 0.97. Utz Brands has a 1-year low of $11.17 and a 1-year high of $20.04. The company's 50-day moving average is $18.02 and its 200 day moving average is $16.28. The company has a quick ratio of 0.95, a current ratio of 1.40 and a debt-to-equity ratio of 0.54.

Utz Brands (NYSE:UTZ - Get Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.14 EPS for the quarter, topping analysts' consensus estimates of $0.13 by $0.01. Utz Brands had a positive return on equity of 6.16% and a negative net margin of 1.38%. The firm had revenue of $346.50 million during the quarter, compared to analyst estimates of $346.99 million. During the same period last year, the company earned $0.11 earnings per share. The business's revenue for the quarter was down 1.4% on a year-over-year basis. As a group, analysts predict that Utz Brands will post 0.72 earnings per share for the current fiscal year.

Utz Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 2nd. Stockholders of record on Monday, April 15th were given 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 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend was Friday, April 12th. Utz Brands's dividend payout ratio is currently -96.00%.

Insider Transactions at Utz Brands

In other Utz Brands news, Director Roger K. Deromedi sold 3,785 shares of the firm's stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $19.13, for a total value of $72,407.05. Following the completion of the transaction, the director now directly owns 3,399,470 shares in the company, valued at $65,031,861.10. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Roger K. Deromedi sold 3,785 shares of the firm's stock in a transaction on Monday, February 26th. The stock was sold at an average price of $19.13, for a total value of $72,407.05. Following the transaction, the director now owns 3,399,470 shares in the company, valued at $65,031,861.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Roger K. Deromedi sold 66,027 shares of the business's stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $19.45, for a total value of $1,284,225.15. Following the sale, the director now owns 2,315,693 shares in the company, valued at $45,040,228.85. The disclosure for this sale can be found here. Insiders have sold a total of 675,208 shares of company stock valued at $12,039,150 over the last 90 days. 17.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Utz Brands

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Utz Brands by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 6,780,350 shares of the company's stock valued at $110,113,000 after acquiring an additional 22,908 shares during the period. Copeland Capital Management LLC increased its stake in shares of Utz Brands by 7.2% during the fourth quarter. Copeland Capital Management LLC now owns 2,952,337 shares of the company's stock valued at $47,946,000 after buying an additional 199,472 shares during the period. Jennison Associates LLC raised its holdings in shares of Utz Brands by 15.2% during the first quarter. Jennison Associates LLC now owns 1,331,581 shares of the company's stock valued at $24,554,000 after acquiring an additional 175,956 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Utz Brands by 26.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,212,493 shares of the company's stock valued at $19,691,000 after acquiring an additional 250,557 shares in the last quarter. Finally, Emerald Advisers LLC increased its position in Utz Brands by 15.8% during the 3rd quarter. Emerald Advisers LLC now owns 929,896 shares of the company's stock valued at $12,488,000 after purchasing an additional 126,948 shares during the period. Institutional investors and hedge funds own 95.97% of the company's stock.

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.