Utz Brands (NYSE:UTZ) PT Lowered to $19.00 at Barclays

Utz Brands (NYSE:UTZ) had its price target lowered by Barclays from $23.00 to $19.00 in a research note issued to investors on Friday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

Other analysts also recently issued reports about the stock. Royal Bank of Canada boosted their target price on shares of Utz Brands from $19.00 to $23.00 and gave the stock an outperform rating in a research report on Friday, May 3rd. Stephens upped their price objective on shares of Utz Brands from $21.00 to $23.00 and gave the stock an overweight rating in a report on Friday, May 3rd. Needham & Company LLC increased their target price on shares of Utz Brands from $20.50 to $22.00 and gave the stock a buy rating in a research report on Friday, May 3rd. Finally, Mizuho boosted their price target on Utz Brands from $22.00 to $24.00 and gave the stock a buy rating in a research report on Friday, May 3rd. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Utz Brands has a consensus rating of Moderate Buy and a consensus price target of $20.08.

Utz Brands Trading Down 2.1 %

NYSE UTZ opened at $15.62 on Friday. The company has a current ratio of 1.40, a quick ratio of 0.95 and a debt-to-equity ratio of 0.54. Utz Brands has a 1-year low of $11.17 and a 1-year high of $20.04. The firm’s fifty day simple moving average is $17.32 and its 200-day simple moving average is $17.70. The company has a market capitalization of $2.20 billion, a PE ratio of -62.48, a price-to-earnings-growth ratio of 1.08 and a beta of 1.00.

Utz Brands (NYSE:UTZ) last issued its earnings results on Thursday, May 2nd. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.01. Utz Brands had a positive return on equity of 6.16% and a negative net margin of 1.38%. The company had revenue of $346.50 million for the quarter, compared to analyst estimates of $346.99 million. During the same period in the prior year, the firm posted $0.11 EPS. The business’s revenue was down 1.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Utz Brands will post 0.72 earnings per share for the current fiscal year.

Utz Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 3rd. Investors of record on Monday, June 17th were given a dividend of $0.059 per share. The ex-dividend date of this dividend was Monday, June 17th. This represents a $0.24 annualized dividend and a dividend yield of 1.51%. Utz Brands’s dividend payout ratio is presently -96.00%.

Insider Activity at Utz Brands

In other Utz Brands news, Director Roger K. Deromedi sold 66,027 shares of Utz Brands stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $19.45, for a total value of $1,284,225.15. Following the transaction, the director now directly owns 2,315,693 shares of the company’s stock, valued at approximately $45,040,228.85. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Utz Brands news, Director Roger K. Deromedi sold 66,027 shares of the stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $19.45, for a total value of $1,284,225.15. Following the completion of the sale, the director now directly owns 2,315,693 shares of the company’s stock, valued at approximately $45,040,228.85. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Dylan Lissette sold 10,003 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $19.11, for a total transaction of $191,157.33. Following the completion of the sale, the director now owns 118,222 shares in the company, valued at $2,259,222.42. The disclosure for this sale can be found here. Insiders sold a total of 497,178 shares of company stock worth $9,387,927 in the last 90 days. 17.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Utz Brands

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Utz Brands by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 6,780,350 shares of the company’s stock worth $110,113,000 after acquiring an additional 22,908 shares during the period. Copeland Capital Management LLC lifted its position in Utz Brands by 7.2% in the fourth quarter. Copeland Capital Management LLC now owns 2,952,337 shares of the company’s stock worth $47,946,000 after purchasing an additional 199,472 shares during the period. Jennison Associates LLC lifted its position in Utz Brands by 15.2% in the first quarter. Jennison Associates LLC now owns 1,331,581 shares of the company’s stock worth $24,554,000 after purchasing an additional 175,956 shares during the period. Dimensional Fund Advisors LP boosted its stake in Utz Brands by 26.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,212,493 shares of the company’s stock worth $19,691,000 after buying an additional 250,557 shares in the last quarter. Finally, Clearbridge Investments LLC increased its holdings in Utz Brands by 2.2% in the 1st quarter. Clearbridge Investments LLC now owns 874,124 shares of the company’s stock valued at $16,119,000 after buying an additional 18,786 shares during the period. 95.97% of the stock is currently owned by institutional investors.

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.