Utz Brands (NYSE:UTZ) Reaches New 52-Week High – What’s Next?

Utz Brands, Inc. (NYSE:UTZ)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $14.25 and last traded at $14.2150, with a volume of 5153831 shares changing hands. The stock had previously closed at $14.04.

Analyst Ratings Changes

Several research firms recently weighed in on UTZ. Wall Street Zen cut shares of Utz Brands from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. Weiss Ratings reiterated a “sell (d)” rating on shares of Utz Brands in a report on Wednesday, June 24th. UBS Group reiterated a “neutral” rating and issued a $14.25 price target on shares of Utz Brands in a research note on Wednesday, July 22nd. BTIG Research downgraded shares of Utz Brands from a “buy” rating to a “hold” rating in a report on Monday, July 27th. Finally, Stephens set a $14.25 price objective on Utz Brands in a research report on Tuesday, July 21st. One investment analyst has rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Utz Brands has a consensus rating of “Hold” and an average target price of $13.39.

Utz Brands Stock Down 0.3%

The company has a quick ratio of 0.69, a current ratio of 1.06 and a debt-to-equity ratio of 0.62. The company has a 50 day simple moving average of $11.13 and a two-hundred day simple moving average of $9.08. The company has a market capitalization of $2.05 billion, a P/E ratio of -43.06 and a beta of 0.74.

Utz Brands (NYSE:UTZ) last released its earnings results on Wednesday, August 5th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.01. Utz Brands had a negative net margin of 2.00% and a positive return on equity of 8.97%. The firm had revenue of $371.80 million during the quarter, compared to analyst estimates of $374.18 million. During the same quarter last year, the business earned $0.17 EPS. The business’s revenue was up 1.4% on a year-over-year basis. As a group, equities analysts predict that Utz Brands, Inc. will post 0.8 EPS for the current year.

Utz Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Monday, June 22nd were issued a dividend of $0.063 per share. This represents a $0.25 annualized dividend and a yield of 1.8%. The ex-dividend date was Monday, June 22nd. Utz Brands’s dividend payout ratio (DPR) is presently -75.76%.

Institutional Investors Weigh In On Utz Brands

A number of institutional investors and hedge funds have recently bought and sold shares of the company. NewEdge Advisors LLC bought a new position in shares of Utz Brands during the 2nd quarter worth $25,000. Global Retirement Partners LLC raised its holdings in shares of Utz Brands by 431.5% in the fourth quarter. Global Retirement Partners LLC now owns 3,343 shares of the company’s stock valued at $35,000 after acquiring an additional 2,714 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Utz Brands by 118.5% in the fourth quarter. Farther Finance Advisors LLC now owns 4,356 shares of the company’s stock valued at $45,000 after acquiring an additional 2,362 shares in the last quarter. Versant Capital Management Inc lifted its stake in Utz Brands by 363.5% in the second quarter. Versant Capital Management Inc now owns 6,086 shares of the company’s stock worth $47,000 after acquiring an additional 4,773 shares during the period. Finally, Osaic Holdings Inc. lifted its stake in Utz Brands by 76.1% in the second quarter. Osaic Holdings Inc. now owns 3,756 shares of the company’s stock worth $47,000 after acquiring an additional 1,623 shares during the period. 95.97% of the stock is owned by institutional investors.

About Utz Brands

Utz Brands, Inc is a leading U.S. manufacturer and distributor of salty snack foods, offering a wide range of products including potato chips, pretzels, cheese snacks, popcorn and tortilla chips. Headquartered in Hanover, Pennsylvania, the company markets its snacks under several well-known brands and serves grocery, mass merchandise, club, convenience and online retailers throughout the United States.

Founded in 1921 by Bill and Salie Utz as a small country store operation, the business expanded gradually through direct delivery to local customers and sales to regional grocers.