Utz Brands (NYSE:UTZ) Issues Quarterly Earnings Results

Utz Brands (NYSE:UTZ) announced its quarterly earnings results on Thursday. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.13 by $0.01, Briefing.com reports. Utz Brands had a positive return on equity of 6.13% and a negative net margin of 1.38%. The company had revenue of $346.50 million for the quarter, compared to the consensus estimate of $346.99 million. During the same quarter last year, the company posted $0.11 earnings per share. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year.

Utz Brands Price Performance

Shares of NYSE:UTZ traded down $0.31 during midday trading on Friday, reaching $19.24. The company’s stock had a trading volume of 1,167,470 shares, compared to its average volume of 745,232. The business’s fifty day simple moving average is $18.01 and its 200-day simple moving average is $16.16. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.42 and a quick ratio of 0.97. The company has a market capitalization of $2.71 billion, a P/E ratio of -76.96, a P/E/G ratio of 1.72 and a beta of 0.97. Utz Brands has a fifty-two week low of $11.17 and a fifty-two week high of $20.04.

Utz Brands Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 2nd. Stockholders of record on Monday, April 15th were paid a $0.059 dividend. The ex-dividend date was Friday, April 12th. This is a positive change from Utz Brands’s previous quarterly dividend of $0.06. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.23%. Utz Brands’s dividend payout ratio (DPR) is -96.00%.

Analyst Upgrades and Downgrades

Several brokerages have commented on UTZ. Needham & Company LLC increased their price target on Utz Brands from $20.50 to $22.00 and gave the company a “buy” rating in a report on Friday. Bank of America raised Utz Brands from a “neutral” rating to a “buy” rating and increased their price objective for the company from $19.00 to $22.00 in a research report on Thursday, March 14th. Stephens increased their price objective on Utz Brands from $21.00 to $23.00 and gave the company an “overweight” rating in a research report on Friday. Mizuho raised their target price on Utz Brands from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Truist Financial raised their target price on Utz Brands from $13.00 to $17.00 and gave the stock a “hold” rating in a research report on Monday, March 4th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.83.

Insider Buying and Selling

In related news, Director Roger K. Deromedi sold 3,785 shares of Utz Brands stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $19.13, for a total value of $72,407.05. Following the completion of the sale, the director now directly owns 3,399,470 shares in the company, valued at $65,031,861.10. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Roger K. Deromedi sold 3,785 shares of Utz Brands stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $19.13, for a total value of $72,407.05. Following the completion of the sale, the director now directly owns 3,399,470 shares in the company, valued at $65,031,861.10. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Roger K. Deromedi sold 32,052 shares of Utz Brands stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $19.10, for a total value of $612,193.20. Following the completion of the sale, the director now owns 3,516,652 shares of the company’s stock, valued at $67,168,053.20. The disclosure for this sale can be found here. Insiders sold a total of 609,181 shares of company stock worth $10,754,925 over the last three months. 17.00% of the stock is currently owned by company insiders.

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.