Utz Brands (NYSE:UTZ) Sets New 1-Year High - Time to Buy?

Key Points

• Utz Brands shares reached a new 52-week high of $14.33, with the stock trading near $14.32 and substantially above its 200-day moving average of $10.20.
• Analyst sentiment remains cautious: the stock has an average “Hold” rating, with nine Holds, one Buy, and one Sell, while the average price target of $13.39 is below the current price.
• Utz exceeded quarterly EPS expectations, reporting $0.19 versus $0.18 expected, while revenue rose 1.4% year over year to $371.8 million; it also pays a quarterly dividend of $0.063 per share, yielding about 1.8%.

Utz Brands, Inc. (NYSE:UTZ - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Thursday. The company traded as high as $14.33 and last traded at $14.3150, with a volume of 1631766 shares traded. The stock had previously closed at $14.29.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. BTIG Research downgraded Utz Brands from a "buy" rating to a "hold" rating in a research note on Monday, July 27th. Piper Sandler reiterated a "neutral" rating and issued a $14.25 target price (up from $10.00) on shares of Utz Brands in a research note on Thursday, July 23rd. Wall Street Zen lowered shares of Utz Brands from a "hold" rating to a "sell" rating in a research report on Saturday, July 25th. Jefferies Financial Group cut shares of Utz Brands from a "strong-buy" rating to a "hold" rating and set a $14.25 price target on the stock. in a research note on Tuesday, July 21st. Finally, Stephens set a $14.25 price objective on shares of Utz Brands in a report on Tuesday, July 21st. One 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. Based on data from MarketBeat, Utz Brands has an average rating of "Hold" and an average target price of $13.39.

Utz Brands Price Performance

The business's 50-day moving average price is $14.21 and its 200 day moving average price is $10.20. The company has a market capitalization of $2.06 billion, a P/E ratio of -43.32 and a beta of 0.72. The company has a quick ratio of 0.69, a current ratio of 1.06 and a debt-to-equity ratio of 0.62.

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

Utz Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Monday, September 21st were paid a dividend of $0.0630 per share. The ex-dividend date of this dividend was Monday, September 21st. This represents a $0.25 annualized dividend and a yield of 1.8%. Utz Brands's dividend payout ratio (DPR) is currently -75.76%.

Hedge Funds Weigh In On Utz Brands

Several hedge funds and other institutional investors have recently added to or reduced their stakes in UTZ. Copeland Capital Management LLC raised its holdings in shares of Utz Brands by 17.8% in the 1st quarter. Copeland Capital Management LLC now owns 4,063,561 shares of the company's stock valued at $32,183,000 after acquiring an additional 613,699 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Utz Brands by 21.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,998,089 shares of the company's stock worth $15,824,000 after purchasing an additional 355,460 shares in the last quarter. Diamond Hill Capital Management LLC Investment Advisor bought a new position in shares of Utz Brands in the second quarter worth approximately $14,462,000. Clearbridge Investments LLC increased its position in shares of Utz Brands by 9.4% in the fourth quarter. Clearbridge Investments LLC now owns 932,242 shares of the company's stock worth $9,677,000 after purchasing an additional 80,205 shares during the last quarter. Finally, Royal Bank of Canada raised its stake in Utz Brands by 61.4% in the first quarter. Royal Bank of Canada now owns 937,060 shares of the company's stock valued at $7,421,000 after purchasing an additional 356,428 shares in the last quarter. 95.97% of the stock is currently owned by hedge funds and other institutional investors.

Utz Brands Company Profile

Utz Brands, Inc is a U.S.-based manufacturer and distributor of branded snack foods. The company produces and markets potato chips, tortilla chips, cheese snacks, pretzels, popcorn, pork snacks, and other salty snacks through a portfolio of brands that includes Utz, Zapp's, Boulder Canyon, Golden Flake, Bachman, and Tim's Cascade Snacks.

Utz products are sold through grocery stores, mass merchants, club stores, convenience stores, drugstores, and e-commerce channels. The company serves consumers primarily in the United States and distributes its snacks through a combination of direct-store delivery, warehouse distribution, and third-party arrangements.

Founded in 1921 by William and Salie Utz in Hanover, Pennsylvania, the company has expanded through organic growth and acquisitions of established regional snack businesses.

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