Utz Brands (NYSE:UTZ – Get 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%.
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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