Utz Brands (NYSE:UTZ) Shares Gap Up to $12.34

Posted by on Jun 17th, 2022

Utz Brands, Inc. (NYSE:UTZ – Get Rating)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $12.34, but opened at $13.32. Utz Brands shares last traded at $12.79, with a volume of 7,154 shares changing hands.

UTZ has been the topic of several research analyst reports. Credit Suisse Group cut shares of Utz Brands from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $20.00 to $16.50 in a report on Tuesday, April 12th. The Goldman Sachs Group upgraded shares of Utz Brands from a “neutral” rating to a “buy” rating and set a $16.00 price target on the stock in a report on Thursday. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $18.42.

The stock has a market capitalization of $1.78 billion, a P/E ratio of 43.69, a PEG ratio of 4.15 and a beta of 0.64. The stock’s fifty day moving average is $13.84 and its 200-day moving average is $15.03. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.53 and a quick ratio of 1.02.

Utz Brands (NYSE:UTZ – Get Rating) last issued its quarterly earnings data on Thursday, May 12th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. The firm had revenue of $340.80 million during the quarter, compared to analysts’ expectations of $311.08 million. Utz Brands had a net margin of 2.04% and a return on equity of 5.20%. Utz Brands’s revenue for the quarter was up 26.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.13 earnings per share. On average, research analysts expect that Utz Brands, Inc. will post 0.5 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 7th. Investors of record on Monday, June 20th will be issued a $0.054 dividend. This represents a $0.22 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend is Thursday, June 16th. Utz Brands’s dividend payout ratio is presently 75.86%.

In other news, COO Cary Devore bought 4,000 shares of the business’s stock in a transaction on Friday, May 20th. The stock was purchased at an average price of $12.68 per share, with a total value of $50,720.00. Following the transaction, the chief operating officer now directly owns 278,573 shares in the company, valued at $3,532,305.64. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 17.32% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in UTZ. Newton One Investments LLC acquired a new position in shares of Utz Brands during the first quarter valued at about $30,000. Nisa Investment Advisors LLC acquired a new position in Utz Brands in the fourth quarter worth about $31,000. Harbor Investment Advisory LLC raised its position in Utz Brands by 918.1% in the fourth quarter. Harbor Investment Advisory LLC now owns 2,749 shares of the company’s stock worth $44,000 after purchasing an additional 2,479 shares in the last quarter. Moors & Cabot Inc. acquired a new position in Utz Brands in the third quarter worth about $51,000. Finally, KB Financial Partners LLC acquired a new position in Utz Brands in the fourth quarter worth about $55,000. 44.28% of the stock is owned by institutional investors and hedge funds.

Utz Brands Company Profile (NYSE:UTZ)

Utz Brands, Inc operates as a snack food manufacturing company. It offers a range of salty snacks, including potato chips, kettle chips, tortilla chips, pretzels, cheese snacks, veggie snacks, pork skins, pub/party mixes, salsa and queso, ready-to-eat popcorn, and other snacks under the Utz, Zapp's, ON THE BORDER, Golden Flake, Good Health, Boulder Canyon, Hawaiian, TGIF, TORTIYAHS!, and other brand names.

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