Utz Brands (NYSE:UTZ) Sets New 1-Year High Following Dividend Announcement

Key Points

• Utz Brands shares reached a new 52-week high of $14.27 after the company announced a quarterly dividend of $0.063 per share, equivalent to $0.25 annually and a 1.8% yield.
• Analyst sentiment remains cautious: the stock has a consensus “Hold” rating and an average price target of $13.39, below its recent trading level.
• Utz reported quarterly EPS of $0.19, slightly above estimates, while revenue rose 1.4% year over year to $371.8 million but fell short of forecasts; institutional investors own 95.97% of the shares.

Shares of Utz Brands, Inc. (NYSE:UTZ - Get Free Report) reached a new 52-week high during mid-day trading on Friday after the company announced a dividend. The stock traded as high as $14.27 and last traded at $14.2650, with a volume of 796695 shares. The stock had previously closed at $14.23.The newly announced dividend which will be paid on Thursday, October 1st. Stockholders of record on Monday, September 21st will be given a dividend of $0.063 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Monday, September 21st. Utz Brands's dividend payout ratio (DPR) is currently -75.76%.

Analysts Set New Price Targets

Several research firms have recently weighed in on UTZ. DA Davidson reiterated a "neutral" rating and set a $14.25 price objective (down from $15.00) on shares of Utz Brands in a report on Wednesday, July 22nd. Weiss Ratings reissued a "sell (d)" rating on shares of Utz Brands in a research note on Wednesday, June 24th. UBS Group restated a "neutral" rating and set a $14.25 target price on shares of Utz Brands in a report on Wednesday, July 22nd. BTIG Research lowered shares of Utz Brands from a "buy" rating to a "hold" rating in a research note on Monday, July 27th. Finally, Stephens set a $14.25 price target on shares of Utz Brands in a report on Tuesday, July 21st. One analyst has rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Utz Brands currently has a consensus rating of "Hold" and a consensus target price of $13.39.

Utz Brands Price Performance

The stock has a market capitalization of $2.05 billion, a P/E ratio of -43.23 and a beta of 0.76. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.06 and a quick ratio of 0.69. The company's 50-day simple moving average is $12.62 and its 200-day simple moving average is $9.42.

Utz Brands (NYSE:UTZ - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $0.19 earnings per share 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 for the quarter, compared to analyst estimates of $374.18 million. During the same period in the previous year, the firm earned $0.17 EPS. The firm's revenue was up 1.4% compared to the same quarter last year. As a group, sell-side analysts expect that Utz Brands, Inc. will post 0.8 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. ProShare Advisors LLC lifted its position in Utz Brands by 8.7% during the 4th quarter. ProShare Advisors LLC now owns 13,457 shares of the company's stock worth $140,000 after acquiring an additional 1,074 shares during the period. Pathstone Holdings LLC increased its position in shares of Utz Brands by 0.8% in the third quarter. Pathstone Holdings LLC now owns 140,831 shares of the company's stock valued at $1,711,000 after buying an additional 1,075 shares in the last quarter. Orion Porfolio Solutions LLC increased its holdings in Utz Brands by 1.0% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 109,921 shares of the company's stock worth $1,380,000 after acquiring an additional 1,137 shares in the last quarter. Osaic Holdings Inc. raised its position in Utz Brands by 76.1% during the second quarter. Osaic Holdings Inc. now owns 3,756 shares of the company's stock worth $47,000 after acquiring an additional 1,623 shares during the period. Finally, NewEdge Advisors LLC purchased a new position in Utz Brands during the second quarter valued at $25,000. Institutional investors own 95.97% of the company's stock.

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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