Utz Brands, Inc. (NYSE:UTZ) to Issue $0.06 Quarterly Dividend

Utz Brands, Inc. (NYSE:UTZ) announced a quarterly dividend on Thursday, September 10th. Shareholders of record on Monday, September 21st will be paid a dividend of 0.063 per share on Thursday, October 1st. This represents a c) annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Monday, September 21st.

Utz Brands has raised its dividend by an average of 0.2%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 26.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Utz Brands to earn $0.86 per share next year, which means the company should continue to be able to cover its $0.25 annual dividend with an expected future payout ratio of 29.1%.

Utz Brands Trading Up 0.1%

Shares of NYSE UTZ opened at $14.23 on Friday. Utz Brands has a 1-year low of $6.78 and a 1-year high of $14.27. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.06 and a quick ratio of 0.69. The business’s 50 day moving average is $12.62 and its two-hundred day moving average is $9.42. The stock has a market capitalization of $2.05 billion, a P/E ratio of -43.14 and a beta of 0.76.

Utz Brands (NYSE:UTZ) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.01. The business had revenue of $371.80 million during the quarter, compared to analyst estimates of $374.18 million. Utz Brands had a positive return on equity of 8.97% and a negative net margin of 2.00%.The company’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period last year, the company earned $0.17 EPS. As a group, research analysts expect that Utz Brands will post 0.8 EPS for the current year.

Hedge Funds Weigh In On Utz Brands

Several hedge funds have recently bought and sold shares of the business. Royal Bank of Canada lifted its position in shares of Utz Brands by 39.7% during the first quarter. Royal Bank of Canada now owns 248,912 shares of the company’s stock worth $3,504,000 after purchasing an additional 70,739 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Utz Brands by 5.9% during the first 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 during the period. Goldman Sachs Group Inc. grew its holdings in shares of Utz Brands by 40.8% in the first quarter. Goldman Sachs Group Inc. now owns 2,022,709 shares of the company’s stock worth $28,480,000 after purchasing an additional 585,952 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Utz Brands by 36.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 196,013 shares of the company’s stock worth $2,760,000 after purchasing an additional 52,285 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of Utz Brands by 10.0% in the second quarter. Legal & General Group Plc now owns 77,578 shares of the company’s stock worth $974,000 after purchasing an additional 7,073 shares during the last quarter. Institutional investors own 95.97% of the company’s stock.

About Utz Brands

Utz Brands, Inc is a leading U.S. manufacturer and distributor of salty snack foods, offering a wide range of products including potato chips, pretzels, cheese snacks, popcorn and tortilla chips. Headquartered in Hanover, Pennsylvania, the company markets its snacks under several well-known brands and serves grocery, mass merchandise, club, convenience and online retailers throughout the United States.

Founded in 1921 by Bill and Salie Utz as a small country store operation, the business expanded gradually through direct delivery to local customers and sales to regional grocers.