Utz Brands (UTZ) Set to Announce Earnings on Thursday

Utz Brands (NYSE:UTZGet Rating) is scheduled to post its quarterly earnings results before the market opens on Thursday, August 11th. Analysts expect Utz Brands to post earnings of $0.11 per share for the quarter. Utz Brands has set its FY 2022 guidance at EPS.Investors that are interested in participating in the company’s conference call can do so using this link.

Utz Brands (NYSE:UTZGet Rating) last announced its earnings results on Thursday, May 12th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.02. The company had revenue of $340.80 million during the quarter, compared to analyst estimates of $311.08 million. Utz Brands had a net margin of 2.04% and a return on equity of 5.20%. The firm’s quarterly revenue was up 26.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.13 earnings per share. On average, analysts expect Utz Brands to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Utz Brands Stock Performance

Shares of NYSE UTZ opened at $17.58 on Thursday. The firm has a 50 day moving average of $14.48 and a 200 day moving average of $14.71. The company has a current ratio of 1.53, a quick ratio of 1.02 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $2.46 billion, a price-to-earnings ratio of 60.62, a price-to-earnings-growth ratio of 5.51 and a beta of 0.71. Utz Brands has a 12-month low of $12.06 and a 12-month high of $22.43.

Utz Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 7th. Shareholders of record on Monday, June 20th were issued a dividend of $0.054 per share. This represents a $0.22 annualized dividend and a yield of 1.23%. The ex-dividend date was Thursday, June 16th. Utz Brands’s dividend payout ratio is currently 75.86%.

Wall Street Analysts Forecast Growth

UTZ has been the topic of several analyst reports. The Goldman Sachs Group raised 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, June 16th. Credit Suisse Group downgraded shares of Utz Brands from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $20.00 to $16.50 in a report on Tuesday, April 12th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Utz Brands currently has an average rating of “Hold” and a consensus target price of $18.42.

Insider Transactions at Utz Brands

In related news, COO Cary Devore purchased 4,000 shares of the business’s stock in a transaction dated Friday, May 20th. The shares were purchased at an average cost of $12.68 per share, for a total transaction of $50,720.00. Following the completion of the acquisition, the chief operating officer now owns 278,573 shares in the company, valued at approximately $3,532,305.64. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 17.26% of the company’s stock.

Institutional Trading of Utz Brands

Hedge funds have recently modified their holdings of the company. Baltimore Washington Financial Advisors Inc. purchased a new stake in shares of Utz Brands during the first quarter valued at about $2,333,000. First Trust Advisors LP purchased a new stake in shares of Utz Brands during the first quarter valued at about $1,737,000. Rhumbline Advisers raised its position in shares of Utz Brands by 9.4% in the 1st quarter. Rhumbline Advisers now owns 58,172 shares of the company’s stock valued at $860,000 after purchasing an additional 5,014 shares during the last quarter. Guggenheim Capital LLC raised its position in shares of Utz Brands by 25.8% in the 1st quarter. Guggenheim Capital LLC now owns 56,697 shares of the company’s stock valued at $838,000 after purchasing an additional 11,615 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Utz Brands by 120.6% in the 1st quarter. Invesco Ltd. now owns 56,671 shares of the company’s stock valued at $837,000 after purchasing an additional 30,980 shares during the last quarter. 44.28% of the stock is owned by hedge funds and other institutional investors.

About Utz Brands

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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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Earnings History for Utz Brands (NYSE:UTZ)

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