Utz Brands (NYSE:UTZ) Issues FY 2021 Earnings Guidance

Utz Brands (NYSE:UTZ) issued an update on its FY 2021 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.550-$0.600 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.590. The company issued revenue guidance of $1.16 billion-$1.16 billion, compared to the consensus revenue estimate of $1.17 billion.

Shares of NYSE:UTZ traded up $0.12 during mid-day trading on Thursday, hitting $15.89. 326,465 shares of the company traded hands, compared to its average volume of 686,428. The stock has a market cap of $2.18 billion, a P/E ratio of 88.28 and a beta of 0.61. The company has a current ratio of 1.71, a quick ratio of 1.26 and a debt-to-equity ratio of 0.55. Utz Brands has a 12-month low of $15.05 and a 12-month high of $30.09. The stock has a 50-day moving average price of $16.40 and a two-hundred day moving average price of $20.02.

Utz Brands (NYSE:UTZ) last posted its quarterly earnings data on Thursday, November 11th. The company reported $0.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.03. Utz Brands had a return on equity of 5.80% and a net margin of 1.81%. The business had revenue of $312.68 million for the quarter, compared to analysts’ expectations of $311.01 million. As a group, analysts expect that Utz Brands will post 0.58 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, October 11th. Shareholders of record on Monday, September 20th were paid a $0.05 dividend. The ex-dividend date was Friday, September 17th. This represents a $0.20 annualized dividend and a dividend yield of 1.26%. Utz Brands’s payout ratio is presently 111.11%.

UTZ has been the topic of several research reports. Zacks Investment Research lowered Utz Brands from a hold rating to a sell rating in a research note on Tuesday, November 9th. Stephens lowered their target price on Utz Brands from $27.00 to $23.00 and set an overweight rating on the stock in a research note on Friday, August 13th. Citigroup boosted their target price on Utz Brands from $19.00 to $21.00 and gave the company a buy rating in a research note on Friday, November 19th. Oppenheimer lowered their target price on Utz Brands from $23.00 to $20.00 and set an outperform rating on the stock in a research note on Tuesday, November 16th. Finally, The Goldman Sachs Group decreased their price objective on Utz Brands from $25.00 to $20.50 and set a neutral rating on the stock in a research note on Tuesday, August 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Buy and a consensus price target of $24.63.

In related news, major shareholder Cc Collier Holdings, Llc sold 106,417 shares of the stock in a transaction dated Friday, October 1st. The stock was sold at an average price of $16.67, for a total transaction of $1,773,971.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Chinh Chu sold 26,487 shares of the stock in a transaction dated Wednesday, November 3rd. The shares were sold at an average price of $16.02, for a total value of $424,321.74. The disclosure for this sale can be found here. Insiders sold a total of 459,253 shares of company stock worth $7,506,523 over the last 90 days. Corporate insiders own 17.32% of the company’s stock.

A number of hedge funds have recently modified their holdings of UTZ. Invesco Ltd. boosted its holdings in Utz Brands by 21.1% during the 3rd quarter. Invesco Ltd. now owns 28,731 shares of the company’s stock valued at $492,000 after acquiring an additional 5,007 shares during the period. Royal Bank of Canada raised its position in Utz Brands by 58.7% during the 3rd quarter. Royal Bank of Canada now owns 25,587 shares of the company’s stock valued at $439,000 after purchasing an additional 9,468 shares during the last quarter. Millennium Management LLC raised its position in Utz Brands by 5.6% during the 3rd quarter. Millennium Management LLC now owns 39,255 shares of the company’s stock valued at $672,000 after purchasing an additional 2,065 shares during the last quarter. LPL Financial LLC raised its position in Utz Brands by 3.8% during the 3rd quarter. LPL Financial LLC now owns 30,633 shares of the company’s stock valued at $525,000 after purchasing an additional 1,129 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Utz Brands by 7.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 290,288 shares of the company’s stock valued at $4,973,000 after purchasing an additional 18,907 shares during the last quarter. Institutional investors own 41.16% of the company’s stock.

Utz Brands Company Profile

UTZ Brands, Inc manufactures, markets, and distributes branded snacking products. It offers a broad range of salty snacks, including potato chips, pretzels, cheese snacks, veggie snacks, pork skins and other snacks. The firm’s brands include Utz, Zapp’s, Golden Flake, Good Health, Boulder Canyon and Hawaiian.

See Also: How Buying a Call Option Works

Earnings History and Estimates for Utz Brands (NYSE:UTZ)

Receive News & Ratings for Utz Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Utz Brands and related companies with MarketBeat.com's FREE daily email newsletter.