Utz Brands (NYSE:UTZ) Hits New 12-Month High – What’s Next?

Utz Brands, Inc. (NYSE:UTZ)’s share price reached a new 52-week high on Thursday. The stock traded as high as $14.33 and last traded at $14.3150, with a volume of 1631766 shares changing hands. The stock had previously closed at $14.29.

Analysts Set New Price Targets

UTZ has been the subject of several research reports. Wall Street Zen lowered shares of Utz Brands from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. BTIG Research lowered Utz Brands from a “buy” rating to a “hold” rating in a research note on Monday, July 27th. Piper Sandler reiterated a “neutral” rating and issued a $14.25 price objective (up from $10.00) on shares of Utz Brands in a report on Thursday, July 23rd. Stephens set a $14.25 price objective on Utz Brands in a research report on Tuesday, July 21st. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Utz Brands in a report on Monday, September 21st. One equities research analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $13.39.

Utz Brands Stock Performance

The company has a market cap of $2.06 billion, a PE ratio of -43.32 and a beta of 0.72. The business’s 50-day moving average is $14.21 and its 200 day moving average is $10.20. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.69 and a current ratio of 1.06.

Utz Brands (NYSE:UTZ) last issued its earnings results on Wednesday, August 5th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.01. Utz Brands had a positive return on equity of 8.97% and a negative net margin of 2.00%.The company had revenue of $371.80 million during the quarter, compared to analysts’ expectations of $374.18 million. During the same period in the prior year, the business posted $0.17 EPS. Utz Brands’s quarterly revenue was up 1.4% compared to the same quarter last year. On average, equities research analysts predict that Utz Brands, Inc. will post 0.8 EPS for the current fiscal year.

Utz Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Monday, September 21st were paid a dividend of $0.0630 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Monday, September 21st. Utz Brands’s dividend payout ratio is -75.76%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Diamond Hill Capital Management LLC Investment Advisor bought a new position in Utz Brands in the 2nd quarter worth $14,462,000. Copeland Capital Management LLC increased its position in shares of Utz Brands by 17.8% during the first quarter. Copeland Capital Management LLC now owns 4,063,561 shares of the company’s stock valued at $32,183,000 after buying an additional 613,699 shares during the period. Systematic Financial Management LP raised its stake in Utz Brands by 195.5% in the first quarter. Systematic Financial Management LP now owns 849,461 shares of the company’s stock worth $6,728,000 after buying an additional 561,961 shares in the last quarter. Royal Bank of Canada lifted its holdings in Utz Brands by 61.4% in the first quarter. Royal Bank of Canada now owns 937,060 shares of the company’s stock worth $7,421,000 after buying an additional 356,428 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Utz Brands by 21.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,998,089 shares of the company’s stock valued at $15,824,000 after acquiring an additional 355,460 shares in the last quarter. 95.97% of the stock is owned by hedge funds and other institutional investors.

Utz Brands Company Profile

Utz Brands, Inc is a U.S.-based manufacturer and distributor of branded snack foods. The company produces and markets potato chips, tortilla chips, cheese snacks, pretzels, popcorn, pork snacks, and other salty snacks through a portfolio of brands that includes Utz, Zapp’s, Boulder Canyon, Golden Flake, Bachman, and Tim’s Cascade Snacks.

Utz products are sold through grocery stores, mass merchants, club stores, convenience stores, drugstores, and e-commerce channels. The company serves consumers primarily in the United States and distributes its snacks through a combination of direct-store delivery, warehouse distribution, and third-party arrangements.

Founded in 1921 by William and Salie Utz in Hanover, Pennsylvania, the company has expanded through organic growth and acquisitions of established regional snack businesses.