Utz Brands (NYSE:UTZ) Reaches New 1-Year Low – Here’s What Happened

Shares of Utz Brands, Inc. (NYSE:UTZ) reached a new 52-week low during trading on Wednesday . The stock traded as low as $13.46 and last traded at $13.57, with a volume of 84318 shares changing hands. The stock had previously closed at $14.49.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on UTZ. Piper Sandler upped their price target on shares of Utz Brands from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Mizuho decreased their price target on Utz Brands from $24.00 to $21.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.22.

Utz Brands Stock Performance

The company has a fifty day moving average price of $16.61 and a two-hundred day moving average price of $16.69. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.21 and a quick ratio of 0.85. The company has a market capitalization of $1.96 billion, a P/E ratio of -73.16, a PEG ratio of 1.18 and a beta of 1.03.

Utz Brands (NYSE:UTZ) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.01. Utz Brands had a negative net margin of 0.99% and a positive return on equity of 7.25%. The company had revenue of $365.50 million for the quarter, compared to analysts’ expectations of $363.98 million. During the same quarter in the previous year, the firm posted $0.17 earnings per share. Utz Brands’s revenue for the quarter was down 1.7% on a year-over-year basis. Equities analysts forecast that Utz Brands, Inc. will post 0.74 earnings per share for the current fiscal year.

Utz Brands Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th were given a $0.061 dividend. The ex-dividend date was Monday, December 16th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.76%. This is an increase from Utz Brands’s previous quarterly dividend of $0.06. Utz Brands’s payout ratio is -126.32%.

Insider Buying and Selling

In other news, insider Cc Collier Holdings, Llc sold 2,815,404 shares of Utz Brands stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $17.29, for a total value of $48,678,335.16. Following the completion of the sale, the insider now owns 496,038 shares in the company, valued at $8,576,497.02. The trade was a 85.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Cary Devore sold 30,000 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $17.32, for a total transaction of $519,600.00. Following the completion of the sale, the executive vice president now owns 451,117 shares of the company’s stock, valued at $7,813,346.44. The trade was a 6.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its holdings in shares of Utz Brands by 19.0% during the third quarter. Victory Capital Management Inc. now owns 1,474,047 shares of the company’s stock valued at $26,091,000 after acquiring an additional 235,622 shares in the last quarter. State Street Corp increased its stake in Utz Brands by 9.5% during the 3rd quarter. State Street Corp now owns 1,758,961 shares of the company’s stock valued at $31,256,000 after purchasing an additional 152,868 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in Utz Brands during the second quarter worth $1,981,000. Barclays PLC lifted its stake in shares of Utz Brands by 21.4% in the third quarter. Barclays PLC now owns 555,477 shares of the company’s stock valued at $9,831,000 after buying an additional 97,767 shares in the last quarter. Finally, NFJ Investment Group LLC acquired a new position in shares of Utz Brands during the third quarter valued at about $1,651,000. 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.