Utz Brands, Inc. (NYSE:UTZ) Declares $0.01 Dividend

Utz Brands, Inc. (NYSE:UTZ) declared a dividend on Thursday, September 5th, NASDAQ reports. Investors of record on Monday, September 16th will be given a dividend of 0.011 per share on Thursday, October 3rd. The ex-dividend date is Monday, September 16th.

Utz Brands has raised its dividend payment by an average of 27.5% annually over the last three years. Utz Brands has a dividend payout ratio of 28.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Utz Brands to earn $0.85 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 28.2%.

Utz Brands Stock Performance

NYSE UTZ traded up $0.07 on Friday, hitting $17.70. 585,893 shares of the stock were exchanged, compared to its average volume of 792,728. The company has a market capitalization of $2.49 billion, a PE ratio of -70.78, a P/E/G ratio of 1.17 and a beta of 1.01. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.69 and a quick ratio of 1.21. The business’s fifty day moving average is $16.23 and its 200 day moving average is $17.44. Utz Brands has a 52 week low of $11.17 and a 52 week high of $20.04.

Utz Brands (NYSE:UTZ) last posted its earnings results on Thursday, August 1st. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. Utz Brands had a return on equity of 6.79% and a net margin of 0.29%. The business had revenue of $356.20 million for the quarter, compared to analyst estimates of $356.23 million. During the same period in the previous year, the firm earned $0.13 EPS. The firm’s revenue was down 1.8% compared to the same quarter last year. Research analysts anticipate that Utz Brands will post 0.73 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Bruce John Lindeman purchased 4,000 shares of Utz Brands stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average price of $16.11 per share, for a total transaction of $64,440.00. Following the transaction, the director now owns 42,480 shares of the company’s stock, valued at approximately $684,352.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 17.00% of the company’s stock.

Wall Street Analyst Weigh In

UTZ has been the topic of several research reports. Piper Sandler reaffirmed an “overweight” rating and issued a $22.00 target price on shares of Utz Brands in a research report on Wednesday, August 21st. Needham & Company LLC reissued a “buy” rating and issued a $22.00 target price on shares of Utz Brands in a research report on Friday, August 2nd. Finally, Barclays decreased their price target on shares of Utz Brands from $23.00 to $19.00 and set an “overweight” rating on the stock in a research note on Friday, July 19th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $20.17.

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.