Utz Brands (NYSE:UTZ) Sets New 1-Year High – Here’s Why

Utz Brands, Inc. (NYSE:UTZ – Get Free Report)’s share price hit a new 52-week high during mid-day trading on Thursday. The company traded as high as $14.36 and last traded at $14.3150, with a volume of 239,375 shares trading hands. The stock had previously closed at $14.31.

Wall Street Analyst Weigh In

Several brokerages have issued reports on UTZ. Barclays lowered shares of Utz Brands from an “overweight” rating to an “equal weight” rating and set a $14.00 price target on the stock. in a research note on Tuesday, July 21st. Wall Street Zen downgraded shares of Utz Brands from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. Piper Sandler restated a “neutral” rating and issued a $14.25 price objective (up from $10.00) on shares of Utz Brands in a report on Thursday, July 23rd. UBS Group restated a “neutral” rating and issued a $14.25 price objective on shares of Utz Brands in a report on Wednesday, July 22nd. Finally, Weiss Ratings raised Utz Brands from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday. One analyst has rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Utz Brands presently has an average rating of “Hold” and a consensus price target of $13.39.

Read Our Latest Analysis on UTZ

Utz Brands Price Performance

The company’s 50-day moving average is $14.23 and its 200-day moving average is $10.52. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of -43.35 and a beta of 0.72. The company has a current ratio of 1.06, a quick ratio of 0.69 and a debt-to-equity ratio of 0.62.

Utz Brands (NYSE:UTZ – Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. Utz Brands had a positive return on equity of 8.97% and a negative net margin of 2.00%. The company had revenue of $371.80 million during the quarter, compared to analysts’ expectations of $374.18 million. During the same period in the prior year, the company earned $0.17 EPS. Utz Brands’s revenue was up 1.4% compared to the same quarter last year. Equities research analysts predict that Utz Brands, Inc. will post 0.80 earnings per share for the current year.

Utz Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Monday, September 21st were issued a dividend of $0.0630 per share. This represents a $0.25 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Monday, September 21st. Utz Brands’s dividend payout ratio (DPR) is presently -75.76%.

Institutional Trading of Utz Brands

Several large investors have recently modified their holdings of the stock. Hsbc Holdings PLC increased its stake in Utz Brands by 8.2% during the 1st quarter. Hsbc Holdings PLC now owns 30,021 shares of the company’s stock valued at $231,000 after purchasing an additional 2,264 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Utz Brands by 318.5% in the third quarter. GAMMA Investing LLC now owns 3,783 shares of the company’s stock valued at $54,000 after buying an additional 2,879 shares in the last quarter. Diversify Wealth Management LLC lifted its stake in shares of Utz Brands by 23.6% in the first quarter. Diversify Wealth Management LLC now owns 20,628 shares of the company’s stock valued at $160,000 after buying an additional 3,936 shares in the last quarter. Personal CFO Solutions LLC grew its holdings in shares of Utz Brands by 22.2% during the first quarter. Personal CFO Solutions LLC now owns 26,212 shares of the company’s stock valued at $208,000 after buying an additional 4,759 shares during the last quarter. Finally, Versant Capital Management Inc grew its holdings in shares of Utz Brands by 363.5% during the second quarter. Versant Capital Management Inc now owns 6,086 shares of the company’s stock valued at $47,000 after buying an additional 4,773 shares during the last quarter. Institutional investors and hedge funds own 95.97% of the company’s stock.

About Utz Brands

(Get Free Report)

Utz Brands, Inc is a U.S.-based manufacturer and distributor of branded snack foods. The company produces and markets potato chips, tortilla chips, cheese snacks, pretzels, popcorn, pork snacks, and other salty snacks through a portfolio of brands that includes Utz, Zapp’s, Boulder Canyon, Golden Flake, Bachman, and Tim’s Cascade Snacks.

Utz products are sold through grocery stores, mass merchants, club stores, convenience stores, drugstores, and e-commerce channels. The company serves consumers primarily in the United States and distributes its snacks through a combination of direct-store delivery, warehouse distribution, and third-party arrangements.

Founded in 1921 by William and Salie Utz in Hanover, Pennsylvania, the company has expanded through organic growth and acquisitions of established regional snack businesses.

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