Utz Brands, Inc. (NYSE:UTZ - Get Free Report)'s stock price hit a new 52-week high on Tuesday . The company traded as high as $14.25 and last traded at $14.2150, with a volume of 5153831 shares trading hands. The stock had previously closed at $14.04.
Analyst Ratings Changes
A number of research analysts have recently issued reports on the stock. Stephens set a $14.25 target price on shares of Utz Brands in a research note on Tuesday, July 21st. Wall Street Zen lowered Utz Brands from a "hold" rating to a "sell" rating in a research report on Saturday, July 25th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Utz Brands in a report on Wednesday, June 24th. Jefferies Financial Group downgraded Utz Brands from a "strong-buy" rating to a "hold" rating and set a $14.25 price objective for the company. in a research report on Tuesday, July 21st. Finally, UBS Group reissued a "neutral" rating and issued a $14.25 price objective on shares of Utz Brands in a research note on Wednesday, July 22nd. One investment analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Utz Brands currently has a consensus rating of "Hold" and an average price target of $13.39.
Check Out Our Latest Stock Analysis on UTZ
Utz Brands Stock Up 1.2%
The company has a current ratio of 1.06, a quick ratio of 0.69 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $2.05 billion, a P/E ratio of -43.08 and a beta of 0.73. The firm's 50 day moving average price is $10.85 and its two-hundred day moving average price is $9.03.
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, topping analysts' consensus estimates of $0.18 by $0.01. Utz Brands had a positive return on equity of 8.97% and a negative net margin of 2.00%.The business had revenue of $371.80 million during the quarter, compared to analysts' expectations of $374.18 million. During the same quarter last year, the company posted $0.17 earnings per share. Utz Brands's quarterly revenue was up 1.4% on a year-over-year basis. Equities research analysts forecast that Utz Brands, Inc. will post 0.8 EPS for the current year.
Utz Brands Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Monday, June 22nd were paid a dividend of $0.063 per share. The ex-dividend date was Monday, June 22nd. This represents a $0.25 annualized dividend and a yield of 1.8%. Utz Brands's dividend payout ratio is presently -75.76%.
Hedge Funds Weigh In On Utz Brands
Institutional investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System increased its position in Utz Brands by 980.5% in the 2nd quarter. California State Teachers Retirement System now owns 725,987 shares of the company's stock valued at $5,590,000 after acquiring an additional 658,796 shares during the period. AXQ Capital LP acquired a new position in shares of Utz Brands during the second quarter worth $80,000. Ancora Advisors LLC bought a new stake in shares of Utz Brands in the second quarter worth $1,068,000. Diamond Hill Capital Management LLC Investment Advisor bought a new stake in shares of Utz Brands in the second quarter worth $14,462,000. Finally, Bank of New York Mellon Corp acquired a new stake in Utz Brands in the second quarter valued at $1,701,000. 95.97% of the stock is currently owned by institutional investors and hedge funds.
About Utz Brands
(
Get Free Report)
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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