Utz Brands, Inc. (NYSE:UTZ) Short Interest Update

Key Points

• Utz Brands experienced a dramatic increase in short interest, rising by 529,066.7% to 6,350,000 shares as of July 15th, reflecting approximately 9.0% of its shares sold short.
• The company reported $0.17 earnings per share for the quarter, falling short of expectations of $0.19, while revenue rose by 2.9% to $366.70 million.
• Utz recently announced a quarterly dividend of $0.061 per share, representing a significant increase from their previous dividend of $0.01, with a current dividend yield of 1.8%.

Utz Brands, Inc. (NYSE:UTZ - Get Free Report) was the target of a significant increase in short interest in the month of July. As of July 15th, there was short interest totaling 6,350,000 shares, anincreaseof529,066.7% from the June 30th total of 1,200 shares. Currently,9.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,200,000 shares, the short-interest ratio is presently 5.3 days. Based on an average daily trading volume, of 1,200,000 shares, the short-interest ratio is presently 5.3 days. Currently,9.0% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on UTZ shares. TD Cowen cut Utz Brands from a "buy" rating to a "hold" rating and cut their price target for the company from $17.00 to $15.00 in a research note on Tuesday, April 22nd. Barclays lowered their price target on shares of Utz Brands from $17.00 to $16.00 and set an "overweight" rating for the company in a report on Friday, June 27th. DA Davidson upgraded Utz Brands from a "neutral" rating to a "buy" rating and set a $16.00 price objective for the company in a report on Thursday, April 24th. Finally, UBS Group upped their price target on shares of Utz Brands from $13.50 to $15.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $17.29.

Utz Brands Stock Down 3.5%

NYSE UTZ traded down $0.48 during trading hours on Tuesday, hitting $13.27. The company's stock had a trading volume of 321,325 shares, compared to its average volume of 1,216,696. Utz Brands has a 52 week low of $11.53 and a 52 week high of $18.89. The company has a market capitalization of $1.88 billion, a PE ratio of 63.24, a price-to-earnings-growth ratio of 1.83 and a beta of 1.17. The company has a current ratio of 1.29, a quick ratio of 0.87 and a debt-to-equity ratio of 0.62. The company's 50-day simple moving average is $13.47 and its two-hundred day simple moving average is $13.40.

Utz Brands (NYSE:UTZ - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.02). Utz Brands had a net margin of 1.27% and a return on equity of 7.81%. The business had revenue of $366.70 million during the quarter, compared to the consensus estimate of $360.55 million. During the same period in the previous year, the business posted $0.19 EPS. Utz Brands's revenue was up 2.9% compared to the same quarter last year. Research analysts anticipate that Utz Brands will post 0.85 EPS for the current fiscal year.

Utz Brands Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Monday, June 16th were given a dividend of $0.061 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $0.24 annualized dividend and a dividend yield of 1.8%. This is an increase from Utz Brands's previous quarterly dividend of $0.01. Utz Brands's payout ratio is 114.29%.

Insider Activity

In related news, Director William Jr. Werzyn purchased 8,000 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The stock was acquired at an average cost of $11.81 per share, for a total transaction of $94,480.00. Following the completion of the purchase, the director owned 22,970 shares in the company, valued at approximately $271,275.70. This represents a 53.44% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 16.32% of the company's stock.

Hedge Funds Weigh In On Utz Brands

Hedge funds have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd bought a new position in shares of Utz Brands during the 1st quarter worth approximately $32,000. Harbor Investment Advisory LLC lifted its stake in Utz Brands by 37.6% in the second quarter. Harbor Investment Advisory LLC now owns 5,481 shares of the company's stock valued at $69,000 after purchasing an additional 1,497 shares during the last quarter. First Horizon Advisors Inc. lifted its stake in Utz Brands by 44.8% in the first quarter. First Horizon Advisors Inc. now owns 7,887 shares of the company's stock valued at $111,000 after purchasing an additional 2,441 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in Utz Brands by 112.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,697 shares of the company's stock valued at $121,000 after purchasing an additional 4,078 shares during the last quarter. Finally, Teacher Retirement System of Texas purchased a new position in Utz Brands in the first quarter valued at approximately $144,000. Institutional investors own 95.97% of the company's stock.

Utz Brands Company Profile

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.