Utz Brands (NYSE:UTZ) Shares Down 5.1%

Utz Brands, Inc. (NYSE:UTZ) shares fell 5.1% on Monday . The stock traded as low as $16.30 and last traded at $16.35. 254,599 shares changed hands during trading, a decline of 68% from the average session volume of 800,649 shares. The stock had previously closed at $17.23.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Barclays dropped their price objective on Utz Brands from $23.00 to $19.00 and set an “overweight” rating on the stock in a research note on Friday, July 19th. Mizuho raised their target price on Utz Brands from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Stephens upped their price target on Utz Brands from $21.00 to $23.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. Royal Bank of Canada boosted their price objective on shares of Utz Brands from $19.00 to $23.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $22.00 target price on shares of Utz Brands in a research note on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $20.08.

Utz Brands Stock Up 2.7 %

The company has a current ratio of 1.40, a quick ratio of 0.95 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $2.37 billion, a PE ratio of -67.48, a P/E/G ratio of 1.07 and a beta of 1.00. The stock’s fifty day simple moving average is $16.46 and its 200-day simple moving average is $17.58.

Utz Brands (NYSE:UTZ) last issued its earnings results on Thursday, August 1st. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. The business had revenue of $356.20 million for the quarter, compared to analysts’ expectations of $356.23 million. Utz Brands had a net margin of 0.29% and a return on equity of 6.80%. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.13 EPS. As a group, sell-side analysts forecast that Utz Brands, Inc. will post 0.73 EPS for the current fiscal year.

Utz Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 3rd. Investors of record on Monday, June 17th were given a $0.059 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date was Monday, June 17th. Utz Brands’s payout ratio is presently -92.00%.

Insider Transactions at Utz Brands

In other news, Director Bruce John Lindeman acquired 4,000 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was acquired at an average price of $16.11 per share, for a total transaction of $64,440.00. Following the completion of the acquisition, the director now owns 42,480 shares in the company, valued at $684,352.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Bruce John Lindeman acquired 4,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was purchased at an average cost of $16.11 per share, with a total value of $64,440.00. Following the completion of the acquisition, the director now directly owns 42,480 shares of the company’s stock, valued at $684,352.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christina Choi sold 3,160 shares of the stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $17.98, for a total value of $56,816.80. Following the completion of the transaction, the director now directly owns 29,740 shares in the company, valued at approximately $534,725.20. The disclosure for this sale can be found here. Company insiders own 17.00% of the company’s stock.

Institutional Investors Weigh In On Utz Brands

Several large investors have recently bought and sold shares of the business. Fifth Third Bancorp acquired a new stake in shares of Utz Brands in the 2nd quarter worth $44,000. SRS Capital Advisors Inc. boosted its holdings in Utz Brands by 120.2% in the 4th quarter. SRS Capital Advisors Inc. now owns 3,464 shares of the company’s stock worth $56,000 after buying an additional 1,891 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in Utz Brands in the 2nd quarter valued at $80,000. Delta Asset Management LLC TN grew its stake in Utz Brands by 100.0% during the 4th quarter. Delta Asset Management LLC TN now owns 5,000 shares of the company’s stock valued at $81,000 after acquiring an additional 2,500 shares in the last quarter. Finally, International Assets Investment Management LLC increased its position in Utz Brands by 1,428.8% during the fourth quarter. International Assets Investment Management LLC now owns 5,473 shares of the company’s stock worth $89,000 after purchasing an additional 5,115 shares during the last quarter. 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.