Utz Brands, Inc. (UTZ) To Go Ex-Dividend on December 16th

Utz Brands, Inc. (NYSE:UTZ) declared a quarterly dividend on Thursday, December 5th,Wall Street Journal reports. Investors of record on Monday, December 16th will be given a dividend of 0.061 per share on Thursday, January 2nd. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend is Monday, December 16th. This is an increase from Utz Brands’s previous quarterly dividend of $0.06.

Utz Brands has increased its dividend payment by an average of 27.5% annually over the last three years. Utz Brands has a payout ratio of 28.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Utz Brands to earn $0.83 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 28.9%.

Utz Brands Trading Up 2.8 %

UTZ opened at $17.74 on Friday. 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 stock’s 50 day moving average price is $17.06 and its 200-day moving average price is $16.99. Utz Brands has a one year low of $14.17 and a one year high of $20.04. The stock has a market cap of $2.50 billion, a price-to-earnings ratio of -93.37, a P/E/G ratio of 1.18 and a beta of 1.01.

Utz Brands (NYSE:UTZ) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.21 EPS for the quarter, topping 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 firm 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 business posted $0.17 earnings per share. The business’s revenue for the quarter was down 1.7% on a year-over-year basis. On average, equities analysts forecast that Utz Brands will post 0.74 EPS for the current year.

Insiders Place Their Bets

In other Utz Brands news, insider Cc Collier Holdings, Llc sold 2,815,404 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $17.29, for a total transaction of $48,678,335.16. Following the completion of the transaction, the insider now directly owns 496,038 shares in the company, valued at approximately $8,576,497.02. This represents a 85.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Cary Devore sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $17.32, for a total value of $519,600.00. Following the completion of the transaction, the executive vice president now owns 451,117 shares in the company, valued at approximately $7,813,346.44. This trade represents a 6.24 % decrease in their position. The disclosure for this sale can be found here. 17.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

UTZ has been the topic of several research analyst reports. Piper Sandler increased their price objective on Utz Brands from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Mizuho lowered their price objective on shares of Utz Brands from $24.00 to $21.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.22.

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.