Utz Brands (NYSE:UTZ) Announces Earnings Results

Utz Brands (NYSE:UTZGet Rating) released its quarterly earnings results on Thursday. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.09 by $0.02, MarketWatch Earnings reports. The firm had revenue of $340.80 million for the quarter, compared to analyst estimates of $311.08 million. Utz Brands had a net margin of 1.74% and a return on equity of 5.40%. The business’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.13 EPS. Utz Brands updated its FY 2022 guidance to EPS.

Shares of Utz Brands stock traded up $0.90 during trading on Friday, hitting $14.28. 846,756 shares of the stock were exchanged, compared to its average volume of 444,035. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of 49.24 and a beta of 0.64. The firm’s 50-day moving average price is $14.53 and its 200 day moving average price is $15.48. Utz Brands has a 12-month low of $12.06 and a 12-month high of $25.42. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.48 and a quick ratio of 1.06.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 28th. Stockholders of record on Monday, April 18th were given a dividend of $0.054 per share. The ex-dividend date was Thursday, April 14th. This represents a $0.22 annualized dividend and a dividend yield of 1.51%. Utz Brands’s dividend payout ratio (DPR) is currently 75.86%.

Several research firms recently weighed in on UTZ. Stephens downgraded shares of Utz Brands from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $23.00 to $18.00 in a report on Wednesday, January 19th. Oppenheimer downgraded shares of Utz Brands from an “outperform” rating to a “market perform” rating in a report on Tuesday, February 8th. Zacks Investment Research downgraded shares of Utz Brands from a “hold” rating to a “sell” rating in a report on Wednesday, May 4th. Finally, Credit Suisse Group downgraded shares of Utz Brands from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $20.00 to $16.50 in a report on Tuesday, April 12th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $20.43.

In related news, Director Antonio F. Fernandez purchased 25,700 shares of Utz Brands stock in a transaction that occurred on Monday, March 7th. The stock was purchased at an average cost of $13.76 per share, with a total value of $353,632.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Ajay Kataria purchased 7,000 shares of Utz Brands stock in a transaction that occurred on Monday, March 7th. The stock was bought at an average cost of $13.79 per share, with a total value of $96,530.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 48,399 shares of company stock valued at $666,617. Corporate insiders own 17.32% of the company’s stock.

Several large investors have recently made changes to their positions in UTZ. Invesco Ltd. raised its holdings in shares of Utz Brands by 21.1% in the third quarter. Invesco Ltd. now owns 28,731 shares of the company’s stock valued at $492,000 after buying an additional 5,007 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Utz Brands by 58.7% during the third quarter. Royal Bank of Canada now owns 25,587 shares of the company’s stock worth $439,000 after acquiring an additional 9,468 shares during the period. Millennium Management LLC increased its stake in shares of Utz Brands by 5.6% during the third quarter. Millennium Management LLC now owns 39,255 shares of the company’s stock worth $672,000 after acquiring an additional 2,065 shares during the period. LPL Financial LLC increased its stake in shares of Utz Brands by 3.8% during the third quarter. LPL Financial LLC now owns 30,633 shares of the company’s stock worth $525,000 after acquiring an additional 1,129 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Utz Brands by 7.0% during the third quarter. Bank of New York Mellon Corp now owns 290,288 shares of the company’s stock worth $4,973,000 after acquiring an additional 18,907 shares during the period. 44.28% of the stock is owned by institutional investors and hedge funds.

Utz Brands Company Profile (Get Rating)

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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