Utz Brands, Inc. Announces Quarterly Dividend of $0.06 (NYSE:UTZ)

Utz Brands, Inc. (NYSE:UTZ) declared a quarterly dividend on Thursday, September 7th, Wall Street Journal reports. Shareholders of record on Monday, September 18th will be paid a dividend of 0.057 per share on Thursday, October 5th. This represents a $0.23 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend is Friday, September 15th.

Utz Brands has a payout ratio of 36.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Utz Brands to earn $0.64 per share next year, which means the company should continue to be able to cover its $0.23 annual dividend with an expected future payout ratio of 35.9%.

Utz Brands Stock Down 2.7 %

Shares of NYSE:UTZ opened at $14.11 on Friday. The company has a current ratio of 1.82, a quick ratio of 1.24 and a debt-to-equity ratio of 0.68. Utz Brands has a 12-month low of $13.85 and a 12-month high of $19.15. The stock’s 50-day moving average price is $15.84 and its two-hundred day moving average price is $16.61. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of 1,410.50, a PEG ratio of 2.31 and a beta of 0.81.

Utz Brands (NYSE:UTZ) last released its quarterly earnings data on Thursday, August 10th. The company reported $0.13 EPS for the quarter, meeting the consensus estimate of $0.13. Utz Brands had a return on equity of 5.77% and a net margin of 0.05%. The company had revenue of $362.90 million for the quarter, compared to analyst estimates of $360.59 million. During the same period last year, the company posted $0.13 earnings per share. The firm’s revenue was up 3.7% compared to the same quarter last year. On average, research analysts forecast that Utz Brands will post 0.55 EPS for the current year.

Institutional Trading of Utz Brands

Several large investors have recently modified their holdings of the business. Legal & General Group Plc increased its holdings in Utz Brands by 2.6% during the 4th quarter. Legal & General Group Plc now owns 25,214 shares of the company’s stock worth $400,000 after purchasing an additional 638 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Utz Brands by 7.7% in the first quarter. Principal Financial Group Inc. now owns 10,808 shares of the company’s stock valued at $160,000 after acquiring an additional 769 shares in the last quarter. Ameritas Investment Partners Inc. boosted its stake in Utz Brands by 17.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,950 shares of the company’s stock valued at $97,000 after acquiring an additional 877 shares during the last quarter. HighTower Advisors LLC grew its holdings in Utz Brands by 5.1% during the 1st quarter. HighTower Advisors LLC now owns 17,984 shares of the company’s stock worth $295,000 after acquiring an additional 877 shares in the last quarter. Finally, Captrust Financial Advisors increased its position in shares of Utz Brands by 10.9% in the 2nd quarter. Captrust Financial Advisors now owns 9,146 shares of the company’s stock worth $126,000 after purchasing an additional 899 shares during the last quarter. 49.01% of the stock is currently owned by institutional investors and hedge funds.

Utz Brands Company Profile

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, pork skins, pub/party mixes, salsa and queso, ready-to-eat popcorn, veggies, and other snacks under the Utz, Zapp's, ON THE BORDER, Golden Flake, Good Health, Boulder Canyon, Hawaiian, TGI Fridays, TORTIYAHS!, and other brand names.