Utz Brands (NYSE:UTZ) Price Target Cut to $17.00 by Analysts at TD Cowen

Utz Brands (NYSE:UTZ) had its price target reduced by TD Cowen from $21.00 to $17.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also recently commented on UTZ. Mizuho decreased their price target on shares of Utz Brands from $24.00 to $21.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. Piper Sandler increased their price target on Utz Brands from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $20.80.

Utz Brands Stock Performance

Shares of UTZ opened at $14.16 on Wednesday. Utz Brands has a 52 week low of $13.46 and a 52 week high of $20.04. The company has a quick ratio of 0.85, a current ratio of 1.21 and a debt-to-equity ratio of 0.56. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of -74.53, a PEG ratio of 1.18 and a beta of 1.03. The business has a 50-day simple moving average of $16.57 and a two-hundred day simple moving average of $16.68.

Utz Brands (NYSE:UTZ) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. Utz Brands had a positive return on equity of 7.25% and a negative net margin of 0.99%. The business had revenue of $365.50 million for the quarter, compared to analysts’ expectations of $363.98 million. During the same period last year, the firm earned $0.17 earnings per share. The business’s quarterly revenue was down 1.7% on a year-over-year basis. On average, analysts expect that Utz Brands will post 0.74 EPS for the current year.

Utz Brands Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 16th were paid a dividend of $0.061 per share. This is a positive change from Utz Brands’s previous quarterly dividend of $0.06. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date of this dividend was Monday, December 16th. Utz Brands’s dividend payout ratio (DPR) is currently -126.32%.

Insider Buying and Selling at Utz Brands

In related news, EVP Cary Devore sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $17.32, for a total value of $519,600.00. Following the completion of the sale, the executive vice president now owns 451,117 shares in the company, valued at approximately $7,813,346.44. The trade was a 6.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Cc Collier Holdings, Llc sold 2,815,404 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $17.29, for a total value of $48,678,335.16. Following the completion of the transaction, the insider now directly owns 496,038 shares in the company, valued at approximately $8,576,497.02. This trade represents a 85.02 % decrease in their position. The disclosure for this sale can be found here. 17.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Utz Brands

Hedge funds have recently added to or reduced their stakes in the business. State Street Corp lifted its position in shares of Utz Brands by 9.5% in the 3rd quarter. State Street Corp now owns 1,758,961 shares of the company’s stock worth $31,256,000 after purchasing an additional 152,868 shares during the period. Vestcor Inc boosted its position in Utz Brands by 11.4% during the 3rd quarter. Vestcor Inc now owns 296,100 shares of the company’s stock valued at $5,241,000 after acquiring an additional 30,400 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Utz Brands by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,548,231 shares of the company’s stock worth $27,409,000 after purchasing an additional 47,320 shares during the last quarter. Principal Financial Group Inc. purchased a new position in Utz Brands in the second quarter valued at about $914,000. Finally, Kimelman & Baird LLC purchased a new position in Utz Brands in the second quarter valued at about $907,000. 95.97% of the stock is owned by hedge funds and other institutional investors.

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.