Utz Brands, Inc. (UTZ) To Go Ex-Dividend on June 16th

Utz Brands, Inc. (NYSE:UTZ) announced a quarterly dividend on Thursday, June 5th, RTT News reports. Shareholders of record on Monday, June 16th will be paid a dividend of 0.061 per share on Thursday, July 3rd. This represents a $0.24 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Monday, June 16th. This is a 454.5% increase from Utz Brands’s previous quarterly dividend of $0.01.

Utz Brands has raised its dividend payment by an average of 5.3% per year over the last three years and has raised its dividend annually for the last 3 consecutive years. Utz Brands has a payout ratio of 25.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Utz Brands to earn $0.92 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 26.1%.

Utz Brands Stock Down 0.1%

Shares of NYSE UTZ opened at $13.69 on Friday. Utz Brands has a 12-month low of $11.53 and a 12-month high of $18.89. The company has a market capitalization of $1.94 billion, a PE ratio of 76.03, a price-to-earnings-growth ratio of 0.86 and a beta of 1.18. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.21 and a quick ratio of 0.85. The firm’s 50-day moving average is $13.05 and its two-hundred day moving average is $14.14.

Utz Brands (NYSE:UTZ) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.16. The business had revenue of $352.08 million for the quarter, compared to the consensus estimate of $345.44 million. Utz Brands had a net margin of 1.13% and a return on equity of 7.92%. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.14 earnings per share. Equities analysts anticipate that Utz Brands will post 0.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

UTZ has been the topic of a number of recent analyst reports. DA Davidson 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 research note on Thursday, April 24th. UBS Group cut their price target on shares of Utz Brands from $15.00 to $13.50 and set a “neutral” rating on the stock in a research note on Friday, May 2nd. Royal Bank of Canada cut their price target on shares of Utz Brands from $23.00 to $20.00 and set an “outperform” rating on the stock in a research note on Monday, February 24th. Mizuho cut their price target on shares of Utz Brands from $21.00 to $19.00 and set an “outperform” rating on the stock in a research note on Monday, February 10th. Finally, TD Cowen downgraded shares of Utz Brands from a “buy” rating to a “hold” rating and cut their price target for the stock from $17.00 to $15.00 in a research note on Tuesday, April 22nd. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $17.81.

Insider Activity

In other Utz Brands news, Director Timothy Brown bought 5,000 shares of the business’s stock in a transaction dated Monday, May 5th. The shares were acquired at an average price of $11.96 per share, with a total value of $59,800.00. Following the purchase, the director now owns 67,573 shares in the company, valued at approximately $808,173.08. The trade was a 7.99% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director William Jr. Werzyn bought 8,000 shares of the business’s stock in a transaction dated Wednesday, May 7th. The stock was acquired at an average cost of $11.81 per share, for a total transaction of $94,480.00. Following the purchase, the director now owns 22,970 shares in the company, valued at approximately $271,275.70. This trade represents a 53.44% increase in their position. The disclosure for this purchase can be found here. Insiders own 16.32% of the company’s stock.

Hedge Funds Weigh In On Utz Brands

A number of hedge funds have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Utz Brands by 5.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,470 shares of the company’s stock valued at $556,000 after purchasing an additional 2,190 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Utz Brands by 36.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 196,013 shares of the company’s stock valued at $2,760,000 after purchasing an additional 52,285 shares in the last quarter. Royal Bank of Canada grew its holdings in Utz Brands by 39.7% during the 1st quarter. Royal Bank of Canada now owns 248,912 shares of the company’s stock valued at $3,504,000 after purchasing an additional 70,739 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Utz Brands by 40.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,022,709 shares of the company’s stock valued at $28,480,000 after purchasing an additional 585,952 shares in the last quarter. Hedge funds and other institutional investors own 95.97% of the company’s stock.

Utz Brands Company Profile

Utz Brands, Inc engages in manufacture, marketing, and distribution of snack foods. It offers a range of salty snacks, including salty snacks, including potato chips, tortilla chips, pretzels, cheese snacks, pork skins, veggie snacks, pub/party mixes, tortilla chips, salsa and dips, ready-to-eat popcorn, and other snacks under the Utz, Zapp’s, ON THE BORDER, Golden Flake, Boulder Canyon, Hawaiian, TORTIYAHS!, etc.