Utz Brands, Inc. (NYSE:UTZ) CEO Purchases $49,914.00 in Stock

Utz Brands, Inc. (NYSE:UTZ) CEO Howard A. Friedman bought 3,525 shares of Utz Brands stock in a transaction that occurred on Monday, February 24th. The stock was purchased at an average cost of $14.16 per share, with a total value of $49,914.00. Following the completion of the acquisition, the chief executive officer now directly owns 265,729 shares in the company, valued at $3,762,722.64. This represents a 1.34 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Utz Brands Stock Down 2.8 %

NYSE UTZ opened at $13.75 on Thursday. 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 company has a market capitalization of $1.94 billion, a P/E ratio of 76.39, a P/E/G ratio of 0.86 and a beta of 1.02. Utz Brands, Inc. has a one year low of $12.71 and a one year high of $20.04. The stock has a 50 day moving average price of $14.17 and a 200-day moving average price of $16.13.

Utz Brands (NYSE:UTZ) last posted its earnings results on Thursday, February 20th. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.03. The firm had revenue of $341.05 million during the quarter, compared to the consensus estimate of $349.93 million. Utz Brands had a return on equity of 7.92% and a net margin of 1.13%. During the same period in the prior year, the company earned $0.16 EPS. As a group, equities analysts predict that Utz Brands, Inc. will post 0.85 EPS for the current fiscal year.

Utz Brands Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th were given a dividend of $0.061 per share. This is an increase 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 1.77%. The ex-dividend date was Monday, December 16th. Utz Brands’s dividend payout ratio is currently 133.33%.

Analysts Set New Price Targets

UTZ has been the subject of several analyst reports. Royal Bank of Canada reduced their target price on shares of Utz Brands from $23.00 to $20.00 and set an “outperform” rating for the company in a report on Monday. TD Cowen dropped their price target on Utz Brands from $21.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Mizuho dropped their price target on Utz Brands from $21.00 to $19.00 and set an “outperform” rating for the company in a research note on Monday, February 10th. Piper Sandler dropped their price target on Utz Brands from $24.00 to $20.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. Finally, Barclays dropped their price target on Utz Brands from $19.00 to $17.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $19.30.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Utz Brands by 4.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,280 shares of the company’s stock valued at $584,000 after acquiring an additional 1,596 shares during the last quarter. Newton One Investments LLC bought a new stake in Utz Brands in the fourth quarter worth $26,000. Rhumbline Advisers lifted its position in Utz Brands by 1.9% in the fourth quarter. Rhumbline Advisers now owns 95,103 shares of the company’s stock worth $1,489,000 after buying an additional 1,757 shares during the last quarter. LPL Financial LLC lifted its position in Utz Brands by 4.7% in the fourth quarter. LPL Financial LLC now owns 39,879 shares of the company’s stock worth $624,000 after buying an additional 1,789 shares during the last quarter. Finally, M&T Bank Corp lifted its position in Utz Brands by 18.9% in the fourth quarter. M&T Bank Corp now owns 12,678 shares of the company’s stock worth $198,000 after buying an additional 2,011 shares during the last quarter. 95.97% of the stock is currently owned by institutional investors.

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.