Utz Brands (NYSE:UTZ) Sets New 1-Year Low Following Analyst Downgrade

Utz Brands, Inc. (NYSE:UTZ) shares reached a new 52-week low during mid-day trading on Wednesday after TD Cowen lowered their price target on the stock from $21.00 to $17.00. TD Cowen currently has a buy rating on the stock. Utz Brands traded as low as $13.46 and last traded at $13.57, with a volume of 84318 shares. The stock had previously closed at $14.49.

Other equities research analysts have also issued research reports about the stock. Mizuho cut their target price on shares of Utz Brands from $24.00 to $21.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. Piper Sandler lifted their target price on Utz Brands from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.80.

Insider Buying and Selling at Utz Brands

In other Utz Brands news, insider Cc Collier Holdings, Llc sold 2,815,404 shares of Utz Brands stock in a transaction that occurred 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 transaction, the insider now directly owns 496,038 shares in the company, valued at approximately $8,576,497.02. The trade was a 85.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Cary Devore sold 30,000 shares of the company’s stock in a transaction 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 transaction, the executive vice president now directly owns 451,117 shares in the company, valued at $7,813,346.44. The trade was a 6.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Utz Brands

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp raised its stake in shares of Utz Brands by 9.5% in the 3rd quarter. State Street Corp now owns 1,758,961 shares of the company’s stock valued at $31,256,000 after acquiring an additional 152,868 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Utz Brands by 3.2% in the third quarter. Geode Capital Management LLC now owns 1,548,231 shares of the company’s stock valued at $27,409,000 after acquiring an additional 47,320 shares during the period. Victory Capital Management Inc. boosted its position in shares of Utz Brands by 19.0% in the third quarter. Victory Capital Management Inc. now owns 1,474,047 shares of the company’s stock valued at $26,091,000 after acquiring an additional 235,622 shares during the period. Envestnet Asset Management Inc. increased its position in Utz Brands by 2.1% during the second quarter. Envestnet Asset Management Inc. now owns 696,019 shares of the company’s stock worth $11,582,000 after acquiring an additional 14,647 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Utz Brands by 5.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 571,161 shares of the company’s stock valued at $10,110,000 after purchasing an additional 28,484 shares during the last quarter. 95.97% of the stock is owned by hedge funds and other institutional investors.

Utz Brands Trading Down 4.2 %

The company has a current ratio of 1.21, a quick ratio of 0.85 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $1.91 billion, a P/E ratio of -71.37, a P/E/G ratio of 1.18 and a beta of 1.03. The business’s fifty day simple moving average is $16.51 and its two-hundred day simple moving average is $16.66.

Utz Brands (NYSE:UTZ) last issued its earnings results on Thursday, October 31st. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. Utz Brands had a positive return on equity of 7.25% and a negative net margin of 0.99%. The business had revenue of $365.50 million during the quarter, compared to analyst estimates of $363.98 million. During the same period in the prior year, the company posted $0.17 earnings per share. Utz Brands’s revenue was down 1.7% on a year-over-year basis. As a group, analysts forecast that Utz Brands, Inc. will post 0.74 earnings per share for the current year.

Utz Brands Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 16th were paid a $0.061 dividend. This is a positive change from Utz Brands’s previous quarterly dividend of $0.06. The ex-dividend date was Monday, December 16th. This represents a $0.24 annualized dividend and a yield of 1.80%. Utz Brands’s payout ratio is currently -126.32%.

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.