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

Shares of Utz Brands, Inc. (NYSE:UTZ) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $13.37 and last traded at $13.94, with a volume of 1296538 shares traded. The stock had previously closed at $13.44.

Analysts Set New Price Targets

Several research firms have commented on UTZ. TD Cowen dropped their target price on shares of Utz Brands from $21.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Mizuho cut their price objective on Utz Brands from $24.00 to $21.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Finally, Piper Sandler raised their target price on Utz Brands from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $20.80.

Utz Brands Stock Up 3.7 %

The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.85 and a current ratio of 1.21. The firm has a market capitalization of $1.96 billion, a P/E ratio of -73.37, a PEG ratio of 1.18 and a beta of 1.03. The stock has a 50 day moving average of $16.37 and a 200-day moving average of $16.61.

Utz Brands (NYSE:UTZ) last announced 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 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 period in the prior year, the company posted $0.17 EPS. Utz Brands’s revenue was down 1.7% compared to the same quarter last year. Research analysts predict that Utz Brands, Inc. will post 0.74 earnings per share for the current fiscal year.

Utz Brands Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th were issued a $0.061 dividend. 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 1.75%. The ex-dividend date was Monday, December 16th. Utz Brands’s dividend payout ratio (DPR) is presently -126.32%.

Insider Activity at Utz Brands

In other Utz Brands news, insider Cc Collier Holdings, Llc sold 2,815,404 shares of the firm’s 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 transaction, the insider now directly owns 496,038 shares of the company’s stock, valued at $8,576,497.02. This trade represents a 85.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Cary Devore sold 30,000 shares of the company’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 transaction, the executive vice president now directly owns 451,117 shares in the company, valued at approximately $7,813,346.44. The trade was a 6.24 % 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 Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Canada Pension Plan Investment Board purchased a new position in Utz Brands in the 2nd quarter worth approximately $80,000. nVerses Capital LLC bought a new stake in shares of Utz Brands during the 3rd quarter worth $142,000. Moody National Bank Trust Division purchased a new position in Utz Brands in the fourth quarter worth $169,000. XTX Topco Ltd bought a new position in Utz Brands in the second quarter valued at $185,000. Finally, MQS Management LLC purchased a new stake in Utz Brands during the second quarter valued at about $187,000. Hedge funds and other institutional investors own 95.97% of the company’s stock.

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.