Utz Brands, Inc. (NYSE:UTZ – Get Rating) declared a quarterly dividend on Friday, September 9th, Wall Street Journal reports. Shareholders of record on Monday, September 19th will be paid a dividend of 0.054 per share on Thursday, October 6th. This represents a $0.22 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend is Friday, September 16th.
Utz Brands has a payout ratio of 34.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Utz Brands to earn $0.60 per share next year, which means the company should continue to be able to cover its $0.22 annual dividend with an expected future payout ratio of 36.7%.
Get Utz Brands alerts:Utz Brands Trading Up 1.7 %
Shares of UTZ traded up $0.28 on Friday, hitting $16.47. 469,285 shares of the stock traded hands, compared to its average volume of 560,267. The company has a quick ratio of 1.06, a current ratio of 1.58 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $2.31 billion, a P/E ratio of 134.92, a P/E/G ratio of 3.57 and a beta of 0.70. The stock's 50 day moving average is $16.32 and its two-hundred day moving average is $14.90. Utz Brands has a 1 year low of $12.06 and a 1 year high of $20.07.
Utz Brands (NYSE:UTZ – Get Rating) last released its quarterly earnings results on Thursday, August 11th. The company reported $0.13 earnings per share for the quarter, beating analysts' consensus estimates of $0.12 by $0.01. Utz Brands had a net margin of 0.85% and a return on equity of 5.19%. The business had revenue of $350.10 million during the quarter, compared to analyst estimates of $335.39 million. During the same period last year, the business earned $0.13 EPS. The business's revenue was up 17.0% on a year-over-year basis. As a group, sell-side analysts predict that Utz Brands will post 0.49 earnings per share for the current year.Insiders Place Their Bets
In other Utz Brands news, Director Roger K. Deromedi sold 15,678 shares of the company's stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $19.64, for a total transaction of $307,915.92. Following the completion of the transaction, the director now owns 3,277,988 shares of the company's stock, valued at approximately $64,379,684.32. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 17.32% of the company's stock.
Institutional Investors Weigh In On Utz Brands
Large investors have recently made changes to their positions in the stock. Principal Financial Group Inc. lifted its holdings in Utz Brands by 7.7% during the 1st quarter. Principal Financial Group Inc. now owns 10,808 shares of the company's stock valued at $160,000 after purchasing an additional 769 shares during the last quarter. Bank of New York Mellon Corp increased its position in Utz Brands by 8.9% during the 1st quarter. Bank of New York Mellon Corp now owns 342,939 shares of the company's stock worth $5,069,000 after buying an additional 28,011 shares during the period. AlphaCrest Capital Management LLC increased its position in Utz Brands by 11.5% during the 1st quarter. AlphaCrest Capital Management LLC now owns 26,660 shares of the company's stock worth $394,000 after buying an additional 2,739 shares during the period. MetLife Investment Management LLC increased its position in Utz Brands by 58.5% during the 1st quarter. MetLife Investment Management LLC now owns 36,012 shares of the company's stock worth $532,000 after buying an additional 13,291 shares during the period. Finally, Rhumbline Advisers increased its position in Utz Brands by 9.4% during the 1st quarter. Rhumbline Advisers now owns 58,172 shares of the company's stock worth $860,000 after buying an additional 5,014 shares during the period. Institutional investors and hedge funds own 45.14% of the company's stock.
Wall Street Analyst Weigh In
UTZ has been the topic of several research analyst reports. Stephens raised their target price on shares of Utz Brands from $16.00 to $19.00 and gave the company an "equal weight" rating in a research note on Friday, August 12th. The Goldman Sachs Group lowered shares of Utz Brands from a "buy" rating to a "neutral" rating and lifted their price target for the company from $16.00 to $21.00 in a research report on Friday, August 12th. Finally, Credit Suisse Group boosted their target price on shares of Utz Brands to $19.00 in a research report on Monday, August 15th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $19.83.
About Utz Brands
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Utz Brands, Inc operates as a snack food manufacturing company. It offers a range of salty snacks, including potato chips, kettle chips, tortilla chips, pretzels, cheese snacks, veggie snacks, pork skins, pub/party mixes, salsa and queso, ready-to-eat popcorn, and other snacks under the Utz, Zapp's, ON THE BORDER, Golden Flake, Good Health, Boulder Canyon, Hawaiian, TGIF, TORTIYAHS!, and other brand names.
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