Utz Brands, Inc. (NYSE:UTZ) Announces Quarterly Dividend of $0.06

Utz Brands, Inc. (NYSE:UTZ - Get Free Report) announced a quarterly dividend on Thursday, June 5th, RTT News reports. Shareholders of record on Monday, June 16th will be paid a dividend of 0.061 per share on Thursday, July 3rd. This represents a $0.24 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend is Monday, June 16th. This is a 454.5% increase from Utz Brands's previous quarterly dividend of $0.01.

Utz Brands has raised its dividend payment by an average of 5.3% annually over the last three years and has increased its dividend annually for the last 3 consecutive years. Utz Brands has a payout ratio of 25.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Utz Brands to earn $0.92 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 26.1%.

Utz Brands Price Performance

Shares of NYSE:UTZ traded down $0.02 on Friday, hitting $13.69. The company had a trading volume of 614,984 shares, compared to its average volume of 944,864. The company has a current ratio of 1.21, a quick ratio of 0.85 and a debt-to-equity ratio of 0.56. The company has a market cap of $1.94 billion, a PE ratio of 76.03, a PEG ratio of 0.86 and a beta of 1.18. Utz Brands has a 52-week low of $11.53 and a 52-week high of $18.89. The business has a 50 day moving average of $13.05 and a 200 day moving average of $14.14.

Utz Brands (NYSE:UTZ - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.16. The company had revenue of $352.08 million for the quarter, compared to analysts' expectations of $345.44 million. Utz Brands had a net margin of 1.13% and a return on equity of 7.92%. The firm's revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period last year, the company earned $0.14 EPS. As a group, equities analysts anticipate that Utz Brands will post 0.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on UTZ. Mizuho dropped their target price on Utz Brands from $21.00 to $19.00 and set an "outperform" rating for the company in a research note on Monday, February 10th. DA Davidson upgraded Utz Brands from a "neutral" rating to a "buy" rating and set a $16.00 price target for the company in a report on Thursday, April 24th. TD Cowen downgraded shares of Utz Brands from a "buy" rating to a "hold" rating and cut their price target for the stock from $17.00 to $15.00 in a research note on Tuesday, April 22nd. UBS Group decreased their target price on Utz Brands from $15.00 to $13.50 and set a "neutral" rating for the company in a report on Friday, May 2nd. Finally, Royal Bank of Canada lowered their price target on Utz Brands from $23.00 to $20.00 and set an "outperform" rating for the company in a report on Monday, February 24th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Utz Brands currently has a consensus rating of "Moderate Buy" and an average price target of $17.81.

Insider Transactions at Utz Brands

In other Utz Brands news, Director Timothy Brown acquired 5,000 shares of the company's stock in a transaction on Monday, May 5th. The shares were bought at an average cost of $11.96 per share, for a total transaction of $59,800.00. Following the acquisition, the director now directly owns 67,573 shares of the company's stock, valued at $808,173.08. This trade represents a 7.99% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William Jr. Werzyn bought 8,000 shares of Utz Brands stock in a transaction dated Wednesday, May 7th. The shares were acquired at an average price of $11.81 per share, with a total value of $94,480.00. Following the completion of the purchase, the director now owns 22,970 shares in the company, valued at approximately $271,275.70. The trade was a 53.44% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 16.32% of the company's stock.

Institutional Investors Weigh In On Utz Brands

Several hedge funds and other institutional investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Utz Brands by 5.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,470 shares of the company's stock worth $556,000 after purchasing an additional 2,190 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Utz Brands by 36.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 196,013 shares of the company's stock worth $2,760,000 after buying an additional 52,285 shares during the last quarter. Royal Bank of Canada grew its position in shares of Utz Brands by 39.7% in the 1st quarter. Royal Bank of Canada now owns 248,912 shares of the company's stock worth $3,504,000 after acquiring an additional 70,739 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Utz Brands by 40.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,022,709 shares of the company's stock worth $28,480,000 after acquiring an additional 585,952 shares in the last quarter. Institutional investors 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.