Utz Brands, Inc. (NYSE:UTZ) Director Sells $1,284,225.15 in Stock

Utz Brands, Inc. (NYSE:UTZ - Get Free Report) Director Roger K. Deromedi sold 66,027 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $19.45, for a total value of $1,284,225.15. Following the sale, the director now directly owns 2,315,693 shares of the company's stock, valued at approximately $45,040,228.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Utz Brands Stock Performance

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

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

Utz Brands Increases Dividend

The firm also recently announced 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 represents a $0.24 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend was Friday, April 12th. This is an increase from Utz Brands's previous quarterly dividend of $0.06. Utz Brands's dividend payout ratio (DPR) is -96.00%.

Hedge Funds Weigh In On Utz Brands

Hedge funds and other institutional investors have recently modified their holdings of the stock. Gratus Capital LLC bought a new position in shares of Utz Brands during the 3rd quarter valued at about $6,468,000. Readystate Asset Management LP bought a new stake in Utz Brands in the 4th quarter worth approximately $7,302,000. Envestnet Asset Management Inc. raised its holdings in shares of Utz Brands by 72.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 710,165 shares of the company's stock worth $9,538,000 after acquiring an additional 297,395 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Utz Brands by 26.0% during the 4th 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 during the last quarter. Finally, First Eagle Investment Management LLC grew its holdings in shares of Utz Brands by 96.5% in the third quarter. First Eagle Investment Management LLC now owns 409,027 shares of the company's stock valued at $5,493,000 after purchasing an additional 200,850 shares in the last quarter. Institutional investors own 95.97% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Bank of America upgraded shares of Utz Brands from a "neutral" rating to a "buy" rating and boosted their price target for the company from $19.00 to $22.00 in a research report on Thursday, March 14th. Royal Bank of Canada boosted their target price on Utz Brands from $19.00 to $23.00 and gave the stock an "outperform" rating in a report on Friday. DA Davidson assumed coverage on shares of Utz Brands in a research report on Friday, March 1st. They set a "neutral" rating and a $20.00 price objective on the stock. Barclays lifted their target price on shares of Utz Brands from $20.00 to $23.00 and gave the stock an "overweight" rating in a report on Monday. Finally, Needham & Company LLC raised their price target on shares of Utz Brands from $20.50 to $22.00 and gave the company a "buy" rating in a research report on Friday. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus 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.