Utz Brands (NYSE:UTZ) Reaches New 12-Month High - Here's What Happened

Key Points

• Utz Brands reached a new 52-week high, trading as high as $14.19 and closing near that level, while its market capitalization stood at approximately $2.04 billion.
• Analyst sentiment has weakened, with several firms downgrading the stock; the consensus rating is “Hold” with a target price of $13.39.
• Utz slightly beat quarterly EPS estimates at $0.19 versus $0.18, while revenue rose 1.4% year over year to $371.8 million. The company also maintains a quarterly dividend of $0.063 per share, equivalent to an annualized yield of about 1.8%.

Utz Brands, Inc. (NYSE:UTZ - Get Free Report) hit a new 52-week high during trading on Wednesday . The stock traded as high as $14.19 and last traded at $14.1850, with a volume of 62197 shares traded. The stock had previously closed at $14.16.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on UTZ. Barclays cut shares of Utz Brands from an "overweight" rating to an "equal weight" rating and set a $14.00 price objective on the stock. in a research report on Tuesday, July 21st. Wall Street Zen cut shares of Utz Brands from a "hold" rating to a "sell" rating in a research note on Saturday, July 25th. UBS Group reissued a "neutral" rating and issued a $14.25 price target on shares of Utz Brands in a report on Wednesday, July 22nd. DA Davidson restated a "neutral" rating and set a $14.25 price objective (down from $15.00) on shares of Utz Brands in a research report on Wednesday, July 22nd. Finally, BTIG Research cut shares of Utz Brands from a "buy" rating to a "hold" rating in a research report on Monday, July 27th. One research analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Utz Brands presently 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 $2.04 billion, a P/E ratio of -42.98 and a beta of 0.73. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.69 and a current ratio of 1.06. The firm has a 50-day moving average price of $10.29 and a 200 day moving average price of $8.93.

Utz Brands (NYSE:UTZ - Get Free Report) last released 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. The company had revenue of $371.80 million during the quarter, compared to the consensus estimate of $374.18 million. Utz Brands had a positive return on equity of 8.97% and a negative net margin of 2.00%.Utz Brands's quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.17 EPS. On average, analysts expect that Utz Brands, Inc. will post 0.8 EPS for the current year.

Utz Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Monday, June 22nd were issued a $0.063 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Monday, June 22nd. Utz Brands's payout ratio is presently -75.76%.

Hedge Funds Weigh In On Utz Brands

Institutional investors and hedge funds have recently made changes to their positions in the business. NewEdge Advisors LLC bought a new stake in Utz Brands in the second quarter worth $25,000. Global Retirement Partners LLC increased its holdings in shares of Utz Brands by 431.5% in the fourth quarter. Global Retirement Partners LLC now owns 3,343 shares of the company's stock worth $35,000 after buying an additional 2,714 shares during the period. Osaic Holdings Inc. increased its holdings in shares of Utz Brands by 76.1% in the second quarter. Osaic Holdings Inc. now owns 3,756 shares of the company's stock worth $47,000 after buying an additional 1,623 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of Utz Brands by 118.5% in the 4th quarter. Farther Finance Advisors LLC now owns 4,356 shares of the company's stock valued at $45,000 after acquiring an additional 2,362 shares during the last quarter. Finally, Versant Capital Management Inc lifted its stake in shares of Utz Brands by 363.5% in the 2nd quarter. Versant Capital Management Inc now owns 6,086 shares of the company's stock valued at $47,000 after acquiring an additional 4,773 shares during the last quarter. 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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